Forensic Audit of past Chairmen, Presidents of SITE Association demanded

KARACHI: “There is an imperative demand by many SITE Karachi industrialists to conduct a forensic audit of all former Chairmen and Presidents of SITE Association of Industry from 1990 to 2020 in order to ascertain whether any of them took undue advantage during their tenure. The audit should be done by any reputed Chartered Accountants firm and monitored by NAB”. This proposal was made by Former Chairman Majyd Aziz, on behalf of himself and many past Chairmen/Presidents, at the AGM of SITE Association of Industry.

Elaborating further, Majyd Aziz said that there have been unconfirmed allegations and innuendos against some past leaders and therefore, he demanded that the Managing Director of SITE Ltd must take into his custody the complete files of companies owned by these Chairmen, Presidents.

“The forensic audit may reveal the names of those officials of SITE Ltd who were hand in glove with these leaders if any allegations are proved correct. He said the audit should investigate whether any of the past Chairmen/Presidents got allotment on open drains (Nullahs), got extra water connections, or received waiver on Non-Utilization Fees by circumventing approvals by the Board of Directors of SITE Ltd”, he opined.

He further added that since he was first elected Chairman in 1990, the audit should begin with him. Siraj Kassam Teli, former Chairman and also Patron-in-Chief of SITE Association, also endorsed this demand and also offered himself for such forensic audit and stated that office bearers, especially belonging to Businessmen Group, are all elected to serve members.

Majyd Aziz disclosed that there was no opposition to his proposal at the AGM. This indicated that the SITE industrialists are keen to introduce accountability, transparency, and equality in the SITE Association of Industry. He advised the industrialists who are on the Board of Directors of SITE Ltd as well as the newly elected office bearers to ensure that the modalities of the forensic audit are decided on top priority in the larger interest of nearly 5,000 industrialists of SITE Karachi.

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