The Karachi Stock Exchange (Guarantee) Limited’s the express tribune news Item ‘KAPCO Profit Soars’; September 07, 2011

Karachi: We write with reference to the news item titled ‘KAPCO profit soars’ appearing on page 11 of the Express Tribune on even-data (September 7, 2011). Some factual incorrections in the said news item require our response as follows:

“An incorrect impression has been given in the news item that KAPCO has given legal notice to GOP along with other 9 IPPs for recovery of its dues. It is clarified that no such notice has been issued by KAPCO for a call under the sovereign guarantee; and thus there is no pressure on KAPCO to withdraw the same (as reported). Additionally, routine dues to KAPCO are not being withheld on the pretext stated in the said news item.”

“KAPCO conducts its affairs independently in a professional and diligent manner. KAPCO has not appointed any third party or forum (including the referred 9 IPPs) to act on its behalf or to represent it before any competent Governmental authority, regulator or other forum.”

Since the reporting is of a serious nature it will be in the fitness of things that an appropriate corrigendum is primed in your next publication on the lines stated hereinabove.

For more information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136
Email: info@kse.com.pk
Web: www.kse.com.pk