ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) on Wednesday decided to conduct appellate bench hearings through video conferencing to facilitate companies and ensure health and safety.

The appellate bench of the SECP is a quasi-judicial forum, legally mandated to hear either appeals filed against the orders passed by a commissioner or any other authorised officer.

To this effect, the commission approved major adjustments in standard operating procedures and internal guidelines including transmission of hearing notices to the parties through email.

Shell incurs Rs4.33bn loss

Shell Pakistan on Wednesday reported loss-after-tax of Rs4.33 billion for the quarter ending March against a profit of Rs256.89 million last year. The company’s loss per share amounted to Rs40.48 against earnings per share of Rs2.40 reported in the 1Q2019.

Bank of Punjab profits fall

The Bank of Panjab on Wednesday reported profit-after-tax of Rs1.49 billion for the Jan-March quarter. The bank’s profits fell 21.51 per cent from Rs1.89bn during the same quarter last year.

The bank’s earnings per share for the quarter fell to Rs0.56 against Rs0.72 in the same period last year.

Published in Dawn, May 21st, 2020

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