Money Games




Corruption is the sieve in the Pakistan economy. Despite of the fact that Pakistan has great potential for investment and business, government fails to protect investor's rights and sometimes it feels government lacks ability to understand how important transparency is to achieve highest growth rates. Frequently we see the news regarding frauds, scams and incompetence in government budget allocations in the capital projects. 


The latest one is Rs. 1 billion fraud by Mazhar Rafique, the owner of the Lahore-based M.R. Securities brokerage house run under a private limited company with most of the directors from one family. This brokerage house had been issuing fake share certificates to investors for years and now he has defaulted. investors had registered Rs. 160 million claims against it and more than 1200 investors invested through this brokerage house. Loopholes are everywhere in the present system of the stock market, law or taxation system. The easiest way is to commit crime and run away to other countries. The authorities mostly come to know about these incidence once they happened.

Today due to CPEC the situation is many big investors are interested in putting huge money in Pakistan but it seems there is no planning from government regarding how will they protect the interest of the potential investors. Government is happy because huge investment is coming in their tenure but this will be gone if investors will not be protected. There is no mechanism to detect fraud immediately or if the system is available then government staff supports criminal activities.

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