| Updated at: 1418 PST, Monday, October 11, 2010|
KARACHI: Massive changes are expected in the administration of Karachi Stock Exchange (KSE) this week, Geo News reported Monday.
Talking to Geo News, the KSE officials said the office term of KSE’s MD Adnan Afridi is coming to and end this week and the board has dismissed the likelihood of him being extended.
Haroon Askari will fill in as acting MD until the new candidate is scoured out; however, a decision has been made to tap into the services of former MD Yaqub Memon to steer the Exchange matter in professional manner.
Impacted by end of Adnan Afridi’s term, his close circles including the head of marketing department also tendered resignation.
The KSE Board also voiced concerns over the lavish expenditures in the former era.