Frequent “crashes” of the stock market reported during the year 1994 suggest that the Karachi bourse is rapidly converting into a volatile market. This cannot be viewed as a positive sign for this developing market of South Asia. Though heavy fluctuations in stock prices are not an unusual...

Pakistan is today, a case study in ethnic strife. Carved out of pre- Independence India in 1947, the country is home to five broad ethnic groups: Punjabis (the dominant segment of the population), Balochis, Pathans and Sindhis. Each has a distinctive culture and language. In spite of broad...