SEPL takes legal stand against SECP's public sector label

MG News | January 31, 2024 at 03:31 PM GMT+05:00

0:00

January 31, 2024 (MLN): Security Papers Limited (PSX: SEPL) intends to challenge the Securities and Exchange Commission of Pakistan (SECP)'s classification of the company as a Public Sector Company, SEPL’s notice to the local bourse disclosed this today.

The reason why the company disagrees with this classification is that it overlooks SEPL's corporate structure as a publicly listed company.

As a result, SEPL intends to challenge this determination through legal avenues, asserting that the decision goes against the international agreement between Pakistan, Iran, and Turkey regarding its status.

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