SECP starts examination of Bahria Town accounts

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has started examination and sought further details of accounts from the Bahria Town for examination after concerns were raised about the operations of the company. An official source at SECP informed the commission planned to scrutinise accounts of all the real estate companies and process would be started with the Bahria Town, largest housing construction concern in the country. He said an examination letter seeking details of accounts was already sent to the Bahria Town. Bahria Town being un-listed company is also required to submit details of it’s accounts to ensure transparency in business transactions, explained the sources. He said examination of accounts of selected companies is under taken by SECP but due to lack of staff all the companies could not be covered every year. staff report

Source: http://www.dailytimes.com.pk/default.asp?page=2012%5C06%5C29%5Cstory_29-6-2012_pg5_8