National Investment Trust (NIT) announced on Saturday the resumption of dealing in its units with effect from January 5. “The removal of suspension has been duly intimated to the Trustee (NBP-Trustee) and notified to the Securities & Exchange Commission of Pakistan,” a press statement said. Earlier, managers of equity funds had suspended pricing, issuance and redemption of their respective units with the approval of SECP, as they were running short of money and the imposition of floor at stock markets hampered calculation of accurate issuance and redemption prices of the units.
The SECP’s Enforcement Department— while enforcing compliance of corporate and allied laws— initiated 86 show-cause proceedings and concluded 54 proceedings against chief executives, directors and auditors of companies in February and March. While facilitating companies to strengthen their capital base, the department allowed three listed companies to issue shares by way of otherwise than right at a discount and at par. In order to strengthen the existing regime of Corporate Social Responsibility (CSR) reporting, the SECP has joined hands with the ICAP for the external assurances of the CSR reports. CSR reports assist organizations in understanding and communicating their vision of combining a company’s profitability with social responsibility and environmental care. Both the SECP and the ICAP have reaffirmed their commitment to developing a framework for external assurance in accordance with prominent international assurance standards, and within a mutually agreed time f
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