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Karachi Jalwa

The KSE was voted "best performing" for four years. Is it ready for the big league?

Karachi Jalwa
Karachi Jalwa
outlookindia.com
-0001-11-30T00:00:00+05:53
The name sounded deceptively familiar, except it seemed to be in the wrong country. No, it wasn't Chandigarh, but Chundrigar. The reference was to Ibrahim Ismail Chundrigar, the minister for trade and commerce in the first Cabinet of the newly-constituted government of Pakistan headed by Mohammed Ali Jinnah, and prime minister for a brief two months in 1957. And the road that bears his name is busier than most major thoroughfares in Karachi on working days, hardly surprising since it happens to be the equivalent of Pakistan's Wall Street or Dalal Street.

On the road where two of Karachi's tallest skyscrapers—the 26-storied Muslim Commercial Bank Towers and the 23-storied Habib Bank Plaza—are situated, adjoining the imposing headquarters of the city's police department and Pakistan's apex monetary authority, is a building that could pass off as a nondescript office. Except that this yellowish eight-floors-tall structure houses one of the fastest growing stock exchanges in the world. Every year, between 2002 and 2005, the Karachi stock...
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