Fenaka Corporation has announced a series of reform measures in response to the corruption cases highlighted in the audit report covering the company’s operations between 2021 and 2023.
The report, released last Thursday by Auditor General Hussain Niyazi, pointed to major irregularities during the period, particularly involving former Managing Director Ahmed Saeed.
In a statement issued last night, Fenaka said immediate steps are being taken to strengthen oversight and prevent a recurrence of such issues. Measures include the establishment of a monitoring system to ensure procurement and operational policies comply with regulations, improved communication with stakeholders, and enhanced mechanisms for reporting and information sharing.
The company further stated that breaches of law, regulatory violations, or neglect of duty will now be reported directly to relevant State authorities. According to Fenaka, the current management is operating fully within legal and regulatory frameworks.
