This is with reference to the report titled "SECP issues two orders against PPPFTCL, PPL bigwig" carried by Business Recorder on December 12. The report refers to orders issued by the Securities and Exchange Commission of Pakistan against Pakistan Petroleum Provident Fund Trust Company (Private) Limited and senior officials of Pakistan Petroleum Limited (PPL) under Sections 15E and 15E (3) of the Securities and Exchange Ordinance 1969, respectively.

For a company recognised for good governance practices, financial transparency and the confidence reposed by stakeholders, PPL's management and board of directors are most concerned about the development and will consider appropriate redress.

(The writer is Manager Corporate Communications Pakistan Petroleum Limited)

Copyright Business Recorder, 2012