Ten months might not seem like a long time but in terms of director turnover at the Pakistan Mercantile Exchange (PMEX), it seems like a lifetime. In May 2022, elections were carried out and ten directors were elected who would, in an ideal world, have seen their terms end in May of 2025. However, a quick glance at the website of the exchange shows that it lists only five members who are active currently.
What happened to half of the board? If reports are to be believed, they state that directors resigned or more appropriately that they were made to resign. With no notifications, no announcements or disclosures, it seems that the matter is being kept hush hush. What exactly took place? Profit tries to piece together the puzzle. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
looks like Exaggeration