Stocks Observer. com

By Dilawar Hussain KARACHI, Feb 8: The stakeholders in the stock market who attended a meeting on Saturday to deliberate on the accounting treatment of decline in fair value of “available for sale investments” in quoted companies held the consensus view that the regulator be asked to suspend the implementation of International Accounting Standard (IAS) 39 for one year, several participants of the meeting confirmed on Sunday. The meeting called by the Securities and Exchange Commission of Pakistan (SECP) was held between the Institute of Chartered Accountants of Pakistan (ICAP) and an entire spectrum of stakeholders. Those included about 30 representatives of Pakistan Bankers’ Association; Investment Banks Association; Insurance Companies Association; Leasing Companies Association; the Stock Exchange and two former heads of KSE. Stock broker-turned industrialist Arif Habib, who was among the participants, affirmed that there was no difference of opinion on that account. And chairman of ...