LAHORE: Lahore High Court (LHC) on Tuesday gave the last opportunity to Securities and Exchange Commission of Pakistan (SECP) for filing reply in a petition, challenging functioning of 12 MPAs as directors of the public sector companies, owned by the Punjab government.
Justice Ali Akbar Qureshi heard the petition, filed by Mian Mehmood ur Rasheed, leader of the opposition in the Punjab Assembly.
Earlier, the petitioner's counsel, Shiraz Zaka, submitted that the respondent lawmakers were not only receiving perks and privileges as the MPAs but also as directors of the public sector companies.
However, the local government and public sector companies' counsel submitted that although the MPAs were functioning as directors in these companies, they were getting no perks and allowances. They further pointed out that the SECP had not submitted a reply in the case yet.
At this, the court adjourning the hearing till May 13 gave the last opportunity to the SECP for filing the reply.
The petitioner had submitted that 12 MPAs including Ramzan Siddique Bhatti, Hussain Jahania Gardezi, Nasreen Nawaz, Kiran Dar, Aman Ullah Khan, Qazi Adnan Fareed, Rana Baber Hussain, Ch Lal Hussain, Mahmood Qadir Khan, Qamar-ul- Islam, Waheed Gull and Majid Zahoor were working as directors on the boards of Lahore Transport Company, Punjab Agriculture and Meat Company, Lahore Parking Company, Punjab Saaf Pani Company and Lahore Waste Management Company.
He submitted that these companies were being regulated by the Public Sector Companies Corporate Governance Rules 2013 and under Section 3(7) of rules, no person having a political or legislative role could become a director of such company.
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