SECP questions mobile company after complaint by PML-N
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has sought comments from a leading mobile phone company on a complaint filed by the chairman of the Central Election Monitoring Cell of the Pakistan Muslim League-Nawaz (PML-N, Senator Ishaq Dar that its funds have been allocated for promoting and funding the poll campaign of a political party.It is learnt that a song by a renowned singer talking about change has prompted the PML-N to lodge the complaint.
The letter sent to the Chief Executive of Telenor Pakistan (Private) Limited, bearing number EMD/242/1/07/09-809 dated May 6, 2013, was signed by Bilal Rasul, Director (Enforcement), Additional Registrar of Companies.
A copy of it, which is available with The News, was also forwarded to the complainant.Bilal Rasul referred to “complaint” of Senator Dar addressed to the Election Commission of Pakistan (ECP) and copy (enclosed) “endorsed to his office wherein it has been alleged that company funds have been deployed for promoting and funding the election campaign of a political party,” which was not named in the SECP letter.
The letter said, “Your attention is invited to the provisions of Section 197 of the Companies Ordinance, 1984 which prohibits a company to contribute from its funds any amount for political purposes. In this regard, you are advised to furnish your comments on the above within two (02) days of the date of this letter.”
Source: The News
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