SECP Publishes Guidance Paper on Convertible Debt Securities

ISLAMABAD: In light of SECP’s commitment to promote capital formation and educate potential issuers and investors about different modes of financing and investment avenues, a Guidance Paper detailing mechanics and elements for issuance of Convertible Debt Securities (CDS) has been published. The said paper is available on SECP’s website and… Continue reading

Govt must convince IMF to soften loan terms as further taxes to ruin economy, Mian Anjum backs PM stance to approach IMF for relaxation in loan conditions

The Federation of Pakistan Chambers of Commerce and Industry’s Businessmen Panel Chairman Mian Anjum Nisar has opposed the government commitment with the IMF to increase taxes by a Rs1.27 trillion in the coming budget, suggesting the economic team to convince the lender for softening its conditions so that government could… Continue reading

Pakistan’s Liquid Foreign Reserves Position

The total liquid foreign reserves held by the country stood at US$ 23,220.3 million on 09-April-2021. The break-up of the foreign reserves position is as under: – Foreign reserves held by the State Bank of Pakistan: US$ 16,106.4 million Net foreign reserves held by commercial banks : US$ 7,113.9 million… Continue reading

SECP automates Ultimate Beneficial Ownership Form for companies

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has launched a facility on its eService portal for online submission of statutory Form-45, required to submit the declaration of ultimate beneficial ownership (UBO), under section 123A of the Companies Act, 2017. This is another forward step to promote the beneficial… Continue reading

Carrefour Pakistan reinforces stricter hygiene measures for Ramadan

Lahore: Carrefour, owned and operated in by Majid Al Futtaim in Pakistan, has reinforced its strict hygiene and safety protocols across all its stores in the country this Ramadan. The additional measures will help protect customers and colleagues during an aggressive third wave of coronavirus while serving customers’ needs during… Continue reading

Chief Commissioner CRTO assures to analyze possibility of restoring tax back to 0.1pc in next budget

KARACHI: Chief Commissioner Corporate Regional Tax Office (CRTO) Karachi Federal Board of Revenue (FBR) Dr. Aftab Imam, after listening to the viewpoint of business community, assured to analyze the issue of higher turnover tax on yarn traders as compared to the profit margin and look into the possibility of restoring… Continue reading

FPCCI participates in D-8 CCI Business Forum

Karachi (PR): The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) in collaboration with D-8 Chamber of Commerce and Industry (D-8 CCI) and The Union of Chambers and Commodity Exchanges of Turkey (TOBB) organized D-8 Business Forum on the sideline of 10th D-8 Summit Dhaka. The D-8 CCI Business… Continue reading

SECP Amends Murabaha Share Financing Regulations

ISLAMABAD: In an endeavour to promote Islamic finance products in the capital market, the Securities and Exchange Commission of Pakistan (SECP) has introduced amendments in Murabaha Share Financing Regulations. Murabaha Share Finance (MSF) is a Shariah compliant leveraged product, a viable alternate avenue for the capital market investors who prefer… Continue reading

Joint Press Release of State Bank of Pakistan and Pakistan Stock Exchange

Governor SBP announces important measures for deepening the debt and capital markets at the Gong Ceremony held by PSX: Karachi: Pakistan Stock Exchange (PSX) hosted Governor State Bank of Pakistan (SBP), Dr Reza Baqir at its Gong Ceremony to mark the beginning of a new chapter of cooperation between SBP… Continue reading

FBR liaison with businessmen must to widen tax base as active taxpayers decline Mian Anjum says new measures inadequate to convince people to file tax returns

The Federation of Pakistan Chambers of Commerce and Industry’s Businessmen Panel Chairman and FPCCI ex-president Mian Anjum Nisar has asked the government to enhance liaison with the business community, who are the real stakeholders, with a view to broaden tax base and enhancing tax-to-GDP ratio, as the number of active… Continue reading