Rumors, Sensationalism, and the Stock Market

Amid mixed signals coming from the coalition government in Islamabad, the Pakistan Army and the President’s office regarding President Pervez Musharraf’s plan to ‘call it a day’, Pakistani stocks have suffered a hard blow as they plunged to their lowest in almost 14 months.

The forbes website had this report to share on its website:

Thursday morning, the Karachi Stock Exchange’s 100-share index fell 4.2 percent to 11,742.83. The index hasn’t touched that level since early April, 2007

Owing to the hyped news about a possible resignation by the president in the next 48 hours, coupled with an air of uncertainty over the future of Pakistan’s fragile economy in the hands of a government already swamped with internal problems, investors were having ‘jitters’ according the Forbes report.

The Pakistan Army and the President’s office spokesperson were quick to dismiss this news as ‘nonsense’ and ‘baseless’ stating that there were no such plans under consideration. However, there has been a lot of buzz about the meeting between Army Chief Gen Kiyani and the President last night that went on till after midnight.

What was it about?

What was discussed?

Was the President given any options or timelines?

Or was the chief just dropping by to check on the Army House he is to occupy as soon as President Musharraf vacates it?  

Although the ISPR has termed this meeting to be a ‘routine matter’, there is certainly something in the air to raise our eye-brows about. We could very well be shooting blanks about this whole scenario but one can’t deny that the change in the command of the 111 Brigade, responsible for the security of the President, the capital and its adjoining city of Rawalpindi at such a crucial and tender point in time makes one think that ‘where there is smoke, there must be fire’! ISPR said Brigadier Aasim Salim Bajwa’s (commander 111 Brigade) relocation to the United States for a professional course is nothing abrupt and was scheduled for quite some time.

Adding fuel to the rumor was Nawaz Sharif’s address last night at Aiwan-e-Iqbal on the occasion that marked 10 years of Pakistan becoming a nulcear power and the first Islamic state to do so. Sharif’s speech centralized on Musharraf and Musharraf only as he slammed down the recent demands by some to give the President ‘safe passage’.

…’this man’ was a lair who backed out of all commitments he had made. He did not quit when the people gave a verdict against him in the elections, and earlier he did not honour his commitment of taking off his military uniform by the end of December 2004.

It is not a hidden fact that Nawaz and Musharraf do not see eye to eye. The heights of hatred they have for each other has been witnessed on various occasions esp when Nawaz Sharif made a failed attempt to come back to Pakistan last year and was sent away from the Islamabad airport and so forth. But politicians and dictators alike should weigh their words and personal grudges when in public. There is an entire nation that hangs on their every word.  

Personally, the President had several ‘ideal’ chances in the recent past to step down and hand over the reigns to a suitable candidate. The most recent one being the general elections. It was expected by a majority of Pakistanis and several nations around the world that perhaps Musharraf would step down after one of the most successful elections held in the country for decades. That announcement never came. The President stayed on for reasons known only to him or his closest circle. Now the people want him out. Out of the President’s chair, out of the Army House, and perhaps out of Pakistan (if he is that lucky).

One can only hope for a stable and progressive Pakistan in times to come…

The circus continues ladies and gentlemen.


11 Responses to “Rumors, Sensationalism, and the Stock Market”

  1. May 30, 2008 at 10:12 am

    so now when Mush is on run and beggi here and there for not chargin him for his lal masjid massacre, Kargil massacre and 12th May Massacre, what will you remenants do after him? start licking other COAS or will hibernate for good?

  2. 2 Kermit
    May 30, 2008 at 10:43 am

    Adnan it is you who has been licking the a** of the politicians and the lawyers. Tell me, do you get paid for your boring spam on this site or you doing it for free like an old h.o.o.k.e.r with sagging b00bs scared and broke because no one wants her any more?

  3. 3 Amber
    May 30, 2008 at 11:26 am

    Same politicians, same scenarios, same dramas. It is not politics and democracy any more in Pakistan. It’s vengance. Pure and sweet revenge. We should take a look at our own conduct before we blame the Army, the generals, or the politicians for that matter. When we have a DEMOCRATIC ruler we cry and pray for assemblies to be dissolved and Army to intervene. Remember how we celebrated the coup back in 99? And when we have a general on the seat we remember democracy and all that. The problem is that we are never satisfied. Now a deposed judge and his panel is being ‘used’ by people who perhaps did not get to enjoy the benefits from mush’s rule to get back at him. Didn’t this judge approve what happened back in 99? Try him too if you want true justice and democracy but of course… that is not how it is suppose to be staged.

  4. 4 Khalid
    May 30, 2008 at 11:57 am

    anyone who thinks things will be normal after musharaf is gone and the judge is restored on his chair is living in fools’ paradise!

  5. May 30, 2008 at 11:57 am

    kermi.LOL seems you slept on other side of bed. Why r u pissing in pants? when would you learn to realize reality and most important you lil kid, who gave you impression that i am a PRO politicians like ppp,zardari or even black coats?

    come out of ignorance and getrid of “either with us or against” policy and learn to use brain to figure out things happening in your surrounding. You guys don’t learn fro history so your dictator.

  6. May 30, 2008 at 12:02 pm

    Kermit, infact i should nothave asked you. I know yo would be also reading papers these days so if the general could be frustrated then why not his future remenants?

    as far as your cursing to politicians, Isn’t mush asking them to give him a safe passage so that he could safe his bloody ass and run out of country and dont face charges of killing of thousands of Pakistanis?

  7. 7 Kermit
    May 30, 2008 at 2:45 pm

    well you may not be a pro-kanjars supporter (or you just fake it all too well) but if you look at the bulk of your messages on wecite you will know that its actually you who has been getting up on the wrong side of the bed and whining about it. i am only replying to what you rant on and on about. and who said that i am pro-mushism myself but then you are an ignorant lamer just like any common man who cares shit about thinking before opening their mouth.

  8. 8 Zujaaja Karim
    May 30, 2008 at 5:11 pm

    Please stop fighting over who is pro what here. Hamari baddqismatti yehi hai keh hum as a nation kabhi eik baat par unite hi nahi ho sakay aaj tak…

  9. May 31, 2008 at 1:09 pm

    i ain’t whining, i just reply what fauzan had been going thru these days. 😉

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