The SECP has made it mandatory for the listed companies to have a functional website by April 1, 2012 to facilitate minority shareholder to have prompt access to various information. Having a website costs huge initially on its establishment and then its maintenance including special staff on large salaries as webmaster, programmers etc. SECP has since long established its own website and has a webmaster drawing a good salary but perhaps nothing to do. It is about now three weeks I am trying repeatedly to contact SECP as a minority shareholder through its email address complaints@secp.gov.pk, enquiries@secop.gov.pk which all come back to me undelivered.
Keeping intentionally or unintentionally a website non-functional, a webmaster’s despite getting salaries not keeping the website approachable by the minority shareholders tantamounts to “mal-administration” taking cognizance of which is the domain of the Federal Ombudsman on which the nation is spending huge too. This joke can happen only in our beloved land of the pure that the communication sent to him on his website also is coming back perhaps for the same reason as with the SECP website.
JAVED
Karachi