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Karachi, An executive at Pakistan Petroleum Limited, identified as Mr. Faisal Bin Ahmad, conducted undisclosed stock transactions, According to information available from the Pakistan Stock Exchange (PSX). The transactions involved the purchase and subsequent sale of company shares within two days.
Mr. Ahmad purchased 500 shares of Pakistan Petroleum Limited at Rs. 121.98 per share on May 13, 2024, and sold the same number of shares at Rs. 124.51 per share on May 14, 2024. Both transactions were carried out electronically within the Central Depository System (CDS).
The failure to disclose these transactions was reportedly inadvertent, as stated by Mr. Ahmad, who expressed regret over the oversight and assured future compliance with PSX regulations, specifically clause 5.6.4. He has been cautioned by the company to adhere strictly to these requirements going forward.