KARACHI  -   Consultant, Karachi Chamber of Commerce & Industry and HoD Greenwich University, Dr Athar Ahmed pointed out that industrial misconduct not only harm the Industry or a country but also provide a give way for international power to intervene in the national affairs.

This he stated while he was delivering a lecture on the topic of “Industrial Frauds in Pakistan and ways to prevent” at a seminar on Corporate Frauds in South Asia” as Guest Speaker. The seminar was organized by Head of Department , Management Sciences & and Director, QEC, Mohammad Ali Jinnah University, Karachi Dr Munir Hussain for three batches of  the course of Corporate Governance and  faculty of the department.

Dean, Karachi School of Business and Leadership, Dr Zeeshan Ahmed and CSR activist, Eesar Khan also addressed to the seminar. Addressing to the seminar, Dr Athar Ahmed discussed in detail about industrial frauds in Pakistan and illustrated the ways of prevent. He also mentioned few case studies from different countries where industrial frauds led to national losses.

He stated that CEPC is a great opportunity for the country for growing the national economics. 

He emphasized upon policy makers and industrialists to keep in mind this fact that we may avail this great opportunity effectively, if we will be in a position to control our industrial frauds that is a common phenomena in Pakistan. Dr Ather also pointed out that international investment is also an opportunity as well as a challenge where international investors demands security, rule of law and transparency in the country.

Dr Zeeshan Ahmed in his speech discussed the role of Corporate Boards in preventing corporate frauds. He elaborated some tips which can help to save the business from chances of corporate scams.

He emphasized upon transparency of disclosures, accountability, professional integrity and business ethics. CSR activist Eesar Khan said that people who are sitting in Board of Directors are human being first then the Director.

He asked them to understand that corporate frauds and scams are related to Corporate Boards and advised them to focus on making themselves positive and well mannered. He said that Corporate Social Responsibility (CSR) is an act that should help our organizations and industry to be remained ethical and socially acceptable.  

Dr Munir Hussain in his vote of thanks mentioned that frauds are occurred due to lack of vision, determination, ignoring the compliance of regulatory bodies, avoiding social responsibilities, loose system of control, lack of transparency and hiding disclosures and increased conflicts of interest among the stakeholders.