Securities and Exchange Commission of Pakistan (SECP) on Tuesday held a stakeholders conference on the Fertiliser Industry Cost Accounting Records Order, 2011 which was participated by representatives of the Fertiliser industry and Competition Commission of Pakistan. SECP reiterated that the cost audit mechanism should be taken up both in letter and spirit as it is not punitive in nature. After thorough deliberation, the participants decided that the order may be published in the official gazette with certain amendments in the annexed schedules. The suggestions made during the conference were noted and the final order, which would be applicable for the financial year commencing on or after July 1, 2012, will be placed before the commission for its approval.
