SECP orders: PPL response

Published Dec 12, 2012 01:04am

THIS refers to the report ‘SECP detects insider trading’ (‘Business’ section, Dec 5).

The report refers to two orders issued by the Securities and Exchange Commission of Pakistan against Pakistan Petroleum Provident Fund Trust Company (Private) Limited and its directors under Sections 15E and 15E (3) of the Securities and Exchange Ordinance 1969, respectively.

For a company that prides itself on good corporate governance, financial transparency and the resultant confidence reposed by its valued stakeholders, the Management and Board of Directors of Pakistan Petroleum Limited (PPL) are seriously concerned about the development and will consider appropriate redress.

SAQUIB HANIF Manager, Corporate Communications, PPL Karachi

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