The Securities and Exchange Commission of Pakistan (SECP) has sought comments from leading mobile phone company, Telenor on a complaint filed by the chairman of the Central Election Monitoring Cell of the Pakistan Muslim League-Nawaz (PML-N), Senator Ishaq Dar that its funds have been allocated for promoting and funding the poll campaign of a specific political party.
The PML-N made the complaint over a song by pop singer Shahzad Roy calling for “change” in the country through vote. According to a letter sent to the chief executive of Telenor Pakistan (Private) Limited, the SECP director (Enforcement), Additional Registrar of Companies Bilal Rasul stated that “it has been alleged that company funds have been deployed for promoting and funding the election campaign of a political party”. The name of the political party was not mentioned in the SECP letter. The letter said, “Your attention is invited to the provisions of Section 197 of the Companies Ordinance, 1984 which prohibits a company to contribute from its funds any amount for political purposes. In this regard, you are advised to furnish your comments on the above within two (02) days of the date of this letter.”
SECP questions Telenor over support to specific political party
