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No SECP official under investigation in Ogra case.

ISLAMABAD -- The Securities and Exchange Commission of Pakistan (SECP) has strictly rebutted the news, attributed to its report that the 'Ogra scam involves over Rs100 billion'.

According to SECP spokesperson, the SECP has nothing to do with the OGRA scam and the news item, published in a section of press, attributing the news to SECP is fabricated and facetious, unfounded and baseless.

It is to explain that the SECP as apex regulator of corporate sector is only providing the National Accountability Bureau with data that was desired by the investigating agency which is investigating this case.

The SECP is a regulatory body and investigating a crime is not its mandate, therefore, any information and statement attributed to the SECP in this regard is incorrect and false. Moreover, the statement that the SECP officials are hampering the investigations and putting obstacles in the way to inquiry was totally baseless and without grounds. It is hereby reiterated that the SECP has been fully cooperative with the investigators which the NAB also appreciates.

It is also clarified that no SECP official has been remained under investigation by the NAB authorities in the case and SECP has no concern with the main case. The SECP officials in routine meet the investigators to furnish prerequisite data and information as when required.
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Publication:The Frontier Star (Northwest Frontier Province, Pakistan)
Date:Jul 9, 2013
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