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Tag Archives: SECP

QICT, Maersk arm twist Customs Today to hush up alleged 100s of billions worth of mega scandals

KARACHI: Qasim International Container Terminal (QICT) and Maersk Pakistan (Pvt) Ltd are pressurising Customs Today to stop coverage of alleged 100s of billions worth of mega scandals. According to details, QICT and Maersk Pakistan are using pressure tactics by submitting various fake applications at multiple forums against Customs Today. They are also sending different people including unscrupulous elements to pressurise ... Read More »

‘Govt must take action against PQA’s Asad Chandna & QICT’s Junaid Zamir for collecting exorbitant charges’

MULTAN: Illegal Clearance of contraband items and collection of exorbitant demurrage and detention charges from importers with the active connivance of corrupt officials like Port Qasim Authority’s chairman Asad Rafi Chandna and QICT CEO Junaid Zamir is a big question mark on the integrity of maritime affairs ministry. Federal Government must take stern action against these officials to protect the ... Read More »

SECP proposes amendments in Single Member Companies Rules

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has proposed certain amendments in the Single Member Companies (SMC) Rules, 2003. A statement issued by the Commission here on Thursday said that, to facilitate the corporate sector, the requirements of nominee and alternate nominee directors as well as particulars and documents of the legal heirs of the Single Member have ... Read More »

SECP registers 414 companies in January

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has registered 414 new companies during the month of January. A statement issued by the Commission here Wednesday said that around 91 percent of these were registered as private limited companies, while around 5 percent registered as single member companies, 4 percent of the companies were registered as public unlisted, non-profit ... Read More »

SECP modifies circular for renewal of NGOs licenses

ISLAMABAD: For the facilitation of Non-Governmental Organizations, the Securities and Exchange Commission of Pakistan (SECP) has modified earlier circulars dealing with the renewal of licenses for NGOs registered under Section 42 of the 1984 Companies Ordinance. The last date for submission of application for renewal has already been extended to February 16. All the associations set up in pursuance of ... Read More »

75pc companies fail to file income tax returns with FBR: SECP chief Hijazi

ISLAMABAD: The Federal Board of Revenue (FBR) has shared a list of 10,000 corporate companies with Securities and Exchange Commission of Pakistan (SECP) to check out their current status. According to SECP Chairman Zafar Hijazi, these companies had not filed their income tax returns. Out of 10,000, around 7000 to 7500 companies are still operational with the SECP but are ... Read More »

SECP declares 2308 companies tax defaulter

ISLAMABAD: Security Exchange Commission of Pakistan has revealed the names of tax evading companies. According to SECP report the information has been shared with FBR after complete investigation. SECP has investigated 7444 companies till now, out of which 2308 companies have not filed their tax returns. Read More »

SCEP reveals 4641 companies cheating FBR by playing dead

ISLAMABAD: Securities and Exchange Commission of Pakistan revealed that more than 4600 companies have not filed income tax report while they are still doing business. By avoiding the procedure of filing income tax returns they are cheating the tax authorities. SECP highlights the need to strengthen the enforcement wing of FBR to counter these cheating cases and catch these tax ... Read More »

SBP 6-month moratorium on KASB Bank: SECP allows KSL trading on 100% cash

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has allowed KASB Securities Limited (KSL) to start business again after it has lifted ban on trading imposed on Nov 18 following the imposition of a six-month moratorium on KASB Bank by the SBP for failing to meet capital adequacy requirements. The bank is the parent company of the brokerage house and ... Read More »

24, 921, 101 worth Rs1b securities transferred: CDC committed to facilitating KASB accountholders

KARACHI: Central Depository Company of Pakistan handled 126 Transfer of Holding Cases (THC) while 24,921,101 securities worth around Rs1 billion have been transferred from KASB Securities into respective accounts besides other additional measures to facilitate account holders of KASB Securities. Since the announcement by SECP, CDC has set up dedicated help desks and extensive support has been made available through ... Read More »

SECP registeres 350 companies in Oct, shows 7% growth

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) registered 350 new companies in October. Compared with corresponding month last year, a 7% growth has been witnessed. Around 89% companies registered as private limited companies, while around 7% companies registered as single member companies. Two percent of the companies have been registered as non-profit associations and one percent each as ... Read More »

SECP steps up efforts to introduce much-needed reforms: Mian Ibrahim

  SIALKOT: Securities and Exchange Commission of Pakistan (SECP) Joint Director Mian Ahmad Ibrahim on Monday said that the commission has intensified efforts to introduce much-needed reforms. Ibrahim was speaking at a session held in collaboration with USAID to introduce the concept of limited liability partnership (LLP) in Pakistan at the Sialkot Chamber of Commerce and Industry (SCCI). The session ... Read More »

SECP: Registration of 405 companies depicts 22% increase

KARACHI: As many as 405 new companies were registered with the Securities and Exchange Commission of Pakistan (SECP) in September, depicting a 22 percent increase over the same month last year. Around 91 percent of them have been registered as private limited companies while six percent and three percent of them were registered as single-member and public limited companies respectively. ... Read More »

SBP to incorporate MRC with SECP to steer housing finance

KARACHI: SBP Deputy Governor Saeed Ahmed while chairing first meeting of the Steering Committee of Mortgage Refinance Company (MRC) held at State Bank of Pakistan said a number of facts are halting growth in housing finance including legal and operational obstacles and non-availability of long-term liquidity. The meeting was also attended by other members of the Committee including executives of ... Read More »

SECP registers 18898 companies in five years

ISLAMABAD: Out of total 64,322 companies 18898 including 848 foreign companies have been registered during last five years with the Securities and Exchange Commission of Pakistan (SECP). The year wise incorporation of companies stands as 3041, 3385, 3925, 3960 and 4587 companies in financial year 2009-10, 2010-11, 2011-12, 2012-13 and 2013-14. Available documents reveal that out of total 64,322 companies, ... Read More »

Exchange Commission fines KSE violators

ISLAMABAD: Inspection was done and action was taken by the Securities and Exchange Commission of Pakistan (SECP) on various participants of Karachi Stock Exchange for violating the rules. The SECP conducted on-site inspection and fined the participants on account of regulatory non-compliances as failure to maintain segregation of clients’ assets; improper books of accounts; imposing late payment charges to clients ... Read More »

FBR, SECP, LCCI, & EOBI ink MOU to facilitate traders

LAHORE: Taking a giant leap forward in terms of building a world class facilitation business community, Federal Board of Revenue (FBR), Securities & Exchange Commission of Pakistan (SECP), Employees Old Age Benefits Institution (EOBI) and Lahore Chamber of Commerce & Industry (LCCI) signed a Memorandum of Understanding (MOU) to establish Physical One-Stop Shop at the LCCI premises to facilitate business ... Read More »

SECP assures LTBA of resolving shareholders’ issues

LAHORE: Security and Exchange Commission of Pakistan (SECP) Additional registrar of Companies Liaqat Ali Dola has assured Lahore Tax Bar Association of early resolution of the issues confronted by the shareholders, directors and their representatives. Dola was addressing lawyers at the Lahore Tax Bar Association at a seminar arranged by the Bar here. He said that all the issues including digital ... Read More »