Glint of Cleared Securities

Glint of Cleared Securities Nishtar the new issue market will intrigue many observers. The point made by some of the leading spokesmen of the private sector that, entrepreneurs have been scared away by political and economic uncertainties cannot carry much conviction because the stock market also has had to reckon with all these uncertainties. Unless one is to dismiss as purely speculative the 1960 boom which carried the market to the highest level for more than a decade, it must be admitted that small investors and speculators are more enterprising than entrepreneurs. Now Delhi's democratic socialism has enough room for private initiative and enterprise, and no viable project need suffer for want of requisite finance as financial institutions are reasonably well supplied with funds to support entrepreneurial activity. Rut how can one expect a marked revival in the capital market when big business continues to use the language of crisis accusing New Delhi of ideological attitudes of hostility and mistrust towards the private sector?