The ongoing privatization of Pakistan International Airlines (PIA) has sent ripples through the stock market, culminating in significant turbulence for investors. The process, which began in August 2023, reached a critical juncture in May 2024, leading to widespread investor panic and substantial financial losses. This chain of events has raised serious questions about the mechanisms and safeguards in place at the Pakistan Stock Exchange (PSX).
While the PSX maintains that all actions were in accordance with the law and that they had no other options, investors argue that the situation has left them reeling with heavy losses. Critics suggest that the chaos could have been mitigated or even avoided with better foresight and regulatory flexibility. The episode represents a confluence of adverse factors, leaving many to ponder where the true accountability lies.
Profit delves into the complexities of this ordeal, unpacking the sequence of events and exploring the possible missteps.
Please put your tray tables in an upright position and fasten your seatbelts as we navigate through this financial turbulence.
