Securities and Exchange Commission of Pakistan has recommended the federal government to introduce mandatory health insurance for private sector employees. According to SECP, the compulsory occupational health insurance scheme can be introduced by amending the 1968 West Pakistan Industrial and Commercial Employment Ordinance. As part of the reforms related to the development of the insurance […]

The Securities and Exchange Commission of Pakistan (SECP) is embarking on digital transformation, end-to-end process automation and enabling user environment for all its regulated companies, said the SECP Chief on Wednesday. Sabazwari said the SECP’s digital transformation would improve service quality, promote transparency and enable efficient interaction for its customers. The SECP’s project for end-to-end […]

The Pakistani government has decided to put together a fund with contributions from banks and insurance firms to buy stocks through a state-owned asset management company, according to the SECP. The fund, proposed by brokers this month, will be similar to the one that helped stabilize the Karachi market after the 2008 financial crisis reported […]

ISLAMABAD: There is a need for the development of the derivatives market, which will enhance access to finance and improve price risk management, according to the annual report issued by the Securities andEXCHANGE  Commission of Pakistan (SECP) on Friday. In his message, SECP’s acting chairman Zafar Abdullah said a strong link needs to be established […]

ISLAMABAD – The Securities and Exchange Commission of Pakistan (SECP) has passed regulations concerning capital market, insurance and corporate governance in its meeting. In this regard, the commission approved the proposed amendments to the Motor Vehicles Act, 1939, for public consultation and to be disseminated by posting them on the SECP’s website as well as […]

ISLAMABAD: Interior Minister Chaudhry Nisar Ali Khan on Tuesday ordered the Securities and Exchange Commission of Pakistan (SECP) to carry out an audit of all foreign companies operating in Pakistan. The directives were issued following the receipt of the report of a joint investigation team (JIT) formed to probe the kidnapping of a Chinese couple […]

MULTAN: The government has failed to achieve the tax targets fixed for 2016-17 despite employing all tactics and delaying the issuance of refunds describing it concerning and discouraging. The parliament had approved unrealistic revenue targets in the previous budget, which could not be achieved even after realising advance taxes from corporate sector and delaying payment of […]

ISLAMABAD: Despite a legal provision under the SECP Act, 2016, the finance ministry has decided not to suspend or remove the chairman of the Securities and Exchange Commission of Pakistan, Zafar Hijazi, who addressed the SECP employees here on Wednesday, asking them to abide by the Commission’s code of conduct. An email was circulated late […]

KARACHI: In its proposals for the upcoming budget, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) demanded steep cut in the rate of sales tax – standard 7 per cent, non-adjustable and non-refundable both for local and imported goods. The FPCCI stressed that high rate of sales tax is the root cause of […]

ISLAMABAD – In continuation of its recent crackdown on banks’ employees conducting insider trading, the Securities and Exchange Commission of Pakistan (SECP) has filed its fourth such criminal complaint in the Karachi sessions court against three employees of the bank and their accomplices. The employees accused of this grave offense were holding key positions as […]