CCP IMPOSES PKR 150 MILLION PENALTY ON RECKITT BENCKISER

ISLAMABAD: The Competition Commission of Pakistan (CCP) has passed an order imposing a total penalty of PKR 150 Million on Reckitt Benckiser Pakistan Limited (Respondent) for violation of Section 10 of the Competition Act, 2010 for making advertising/marketing claims about its product ‘Strepsils’, which have been found capable of misleading… Continue reading

SBP Modernizes Foreign Exchange Regulations to facilitate Start-ups, Fintechs and Exports

State Bank of Pakistan (SBP) has notified revisions in chapter 20 of the Foreign Exchange Manual to facilitate Start-ups, Fintechs and Exports. The new policy for equity investment abroad will attract foreign direct investment through the establishment of holding companies by Pakistani fintechs and startups;  support exports by facilitating exporters… Continue reading

OPTION OF GENERATING ELECTRICITY FROM WASTE SHOULD ALSO BE CONSIDERED Mian Nasser Hyatt Maggo, President FPCCI

Karachi (PR) Mian Nasser Hyatt Maggo, President of Federation of Pakistan Chambers of Commerce and Industry, while discussing with the visiting delegation from Pakistan Plastic Manufacturers Association said that the concept to utilize waste to generate energy may be introduced and the concerned ministries educate on this option.   He said… Continue reading

Murtaza Wahab directs formation of liaison/consultative committee with KCCI

LEGISLATIONS FOR SOLID WASTE MANAGEMENT. KARACHI: In response to a suggestion by Chairman Businessmen Group (BMG) Zubair Motiwala, the Advisor to Chief Minister Sindh on Law, Environment, Climate Change and Coastal Development Barrister Murtaza Wahab directed the Secretary Environment to immediately notify a liaison/ consultative committee so that the Sindh… Continue reading

SECP Issues Draft Amendments to NBFC Regulations for Public Consultation

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP), to safeguard the interest of investors and prevent miss-selling, has proposed amendments to the Non-Banking Finance Companies and Notified Entities Regulations, 2008. The amendments have been made available on the SECP website https://www.secp.gov.pk/document/sro-107-i-2021-2nd-draft-amendments-in-the-non-banking-finance-companies-and-notified-entities-regulations-2008/?wpdmdl=41497&refresh=601935ded4e301612264926 for public consultation. The proposed amendments focus on training, disciplining… Continue reading

Irfan Siddiqui elected President of OICCI – the largest business Chamber in Pakistan, based on economic contribution

Karachi: Mr Irfan Siddiqui, President and CEO, Meezan Bank Limited has taken over as the President of the Overseas Investors Chamber of Commerce and Industry (OICCI) for the 2021 term. This was announced at the 161st Annual General Meeting of the OICCI held at the Chamber on Monday, February 1, 2021…. Continue reading

Mian Nasser Hyatt Maggo, President, FPCCI meeting with Mr. Farman Ullah Zarkoon, CEO, Baluchistan Board of Investment and Trade

Karachi: (PR) Mian Nasser Hyatt Maggo, President FPCCI was pleased to receive Mr. Farman ullah Zarkoon CEO Baluchistan Board of Investment and Trade (BBIT) along with his team at FPCCI Head Office to discuss the related matters of trade bodies as to how the FPCCI can act as a bridge… Continue reading

PSX Holds Gong Ceremony for Onboarding of Meezan Bank as Market Maker on PSX

Karachi: A Gong Ceremony was held at Pakistan Stock Exchange (PSX) to welcome Meezan Bank Limited  on-board as a Market Maker for Shariah-compliant debt securities on PSX.  An agreement was signed between PSX and Meezan Bank today at PSX Trading Hall whereby Meezan Bank becomes the first Islamic bank to… Continue reading

SECP highlights investment opportunities in ETFs

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) successfully organized a seminar to increase awareness regarding Exchange Traded Funds (ETFs), a new investment product, launched recently in Pakistan’s capital market. ETFs are index tracking funds, which because of their passive investment nature offer lower cost to the investors along… Continue reading

Frequent hike in energy rates to appease IPPs will dent PM vision of reducing production cost

The Federation of Pakistan Chambers of Commerce and Industry’s ruling group has resented the frequent jump in electricity tariff and petroleum products’ prices, which is made on behest of the IMF, besides appeasing the Independent Power Producers, stating the move will dent the Prime Minister’s vision of lowering cost of… Continue reading