Former SECP Chairman condemns media ‘campaign’
Karachi: Former Chairman Securities and Exchange Commission of Pakistan, (SECP) Muhammad Ali, has strongly denied the contents of a report about his non filing of wealth tax and non-disclosure of any investment. These reports seem to be a continuation of a planned media campaign against him by a media group because during his tenure, the SECP took action against certain brokerage house. It is strange that notice of an FBR enquiry has reached a journalist before the persons against whom the enquiry has allegedly been initiated.
Copies of a 35-page order by FBR confirming the sale of Ali’s stake in R. I. Enterprises in 2006 are attached, proving the contents of the news item is false and baseless, and part of a malafide campaign to malign him. It is also categorically stated that Ali’s wealth tax for 2011 and 2012 were filed with FBR and all of his investments declared to the Federal Government, as reported in SECP’s annual reports for 2011 and 2012. Last month, the former Chairman SECP wrote a detailed letter to the Prime Minister informing him of the pressure and black mailing tactics used by certain business and media groups to malign him and to stop him from coming back in SECP.