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LSE condemns harassment of member by police

RECORDER REPORT

LAHORE: The Governing Board of Directors of Lahore Stock Exchange in an emergency meeting on Sunday passed a resolution condemning harassment by police of LSE member Shahid Mahmood and his family members.

The resolution said that the LSE member was harassed by the police on the basis of absolutely false and baseless complaint of an investor, Saif-ud-Din Qazi, as determined by the investors' complaint settlement committee of the LSE.

The investor had lodged a complaint against Shahid Mehmood following a quarrel between the two on a business matter.

The Defence police called him in the police station and harassed him on the pretext of checking documents of his car. According to the police, he had false documents of his vehicle.

The meeting resolved that for the protection of Shahid Mahmood, the copy of the resolution condemning the attitude and actions of police against him would be sent to the Chief Executive of Pakistan, Punjab governor, corps commander lahore, federal finance minister, Punjab home secretary, IGP, DIG, SSP, SECP chairman and chairmen of KSE and LSE.

The meeting urged these authorities to take serious note of this "unfortunate police action" and ensure protection of all the members of the stock exchanges against police excesses in future, which might otherwise affect the healthy investment environment.

The board also decided to appeal to the government for taking legislative measures by promulgating a law for the protection of the members where it may be provided that no FIR should be registered against any member of any stock exchange in respect of 'stock exchange transactions' without the prior approval of the board of directors of stock exchanges.

The board also hinted at discontinuing work, in case of the failure of the authorities regarding protection of the members from police actions.