The Pakistan Stock Exchange and the Sindh High Court should take immediate notice of the fact that the price of a privately run petroleum company’s shares has dropped from Rs17 to Rs5.
Initial investigations have found that the company is guilty of manipulating its financial statements for the year 2019. False purchase orders were created and entered. It is surprising that auditors weren’t able to detect this misrepresentation, which ultimately led to investors losing a lot of money. The government should look into this matter on an urgent basis.
Ashfaq Sharif
Karachi
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