Rs. 20 b Support Fund for KSE formed

Aiming to revive investors' confidence in the country's ailing stock market, Finance Minister Syed Naveed Qamar has announced the formation of a Support Fund worth 20 billion rupees. After meeting with members of Karachi Stock Exchange (KSE), Finance Minister told media that government would extend its full support to the equities market. He announced the formation of a market Support Fund with an initial capital of 20 billion rupees. Naveed Qamar hoped that the equities market would stabilize soon and would help the government achieve it's own privatization targets. NIT Chairman Tariq Iqbal Khan also expressed optimism that improved investor confidence will support the faltering indices.