Consultation on badla issue concludes

A five-member Karachi Stock Exchange committee left for Karachi after concluding dialogues here on stringent conditions from Securities and Exchange Commission and prolonging badla trading for few more months. Badla phase-out, which had been given soft schedule, is still in higher preference for Karachi market traders, while the SECP considers it a real source of recent crisis and over-speculation in the market. The SECP officials asked the delegation in two-day talks to limit the powers of brokers in time and value of their exposure if they use badla, to avoid over-speculation.