Government stalled Privatisation Process once again

What is seen as utter surprising by bulls is the call the privatisation board to stall the privatisation process for OGDC, PPL and Mari Petroleum once again.

The Government decision to divest through stock exchange becomes a victim of downplaying by market forces contemplating a bear-run for at the edge of a rollover period having over billions of open positions to be either squared-up or rolled-over in august

The Privatisation Ministry’s decision to call-off the process requires an investigation as to whether any market participant knew the fact beforehand.

This needs to be seen as to whether bears would now be able to install a sustained bearish run which could last for weeks during the month of august and evaporates four to six thousand points.

Syed Zaki Hussain

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