Briefs

SECP holds interactive session

By our correspondent

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) on Thursday organised an interactive workshop at its headquarters to get feedback from the industry over practical difficulties being faced by the nonbank microfinance companies (NBMFCs) during their registration or licensing and their concerns on the post-licensing requirements.

According to SECP statement, the commission has undertaken a thorough revamping of the regulatory framework for nonbank microfinance companies.

The commission has taken various measures with specific objectives of improving ease of doing business by NBMFCs, which include reduction in fees, exemption of ancillary operators from requirements of certain rules and amendments in Fit & Proper criteria, etc. Under the current regulatory framework, micro-financing has become a regulated activity and all the entities other than microfinance banks undertaking micro-financing will have to get a licence from the SECP to undertake the same. 

SBP injects Rs40bln

By our correspondent

KARACHI: The State Bank of Pakistan on Thursday injected Rs40 billion in the money market for one-day through its open market operation. The rate of return accepted is 5.80 per annum,  a statement issued by the central bank said.

Atlas Honda celebrates expansion

By our correspondent

KARACHI: Atlas Honda Ltd (AHL), Honda’s motorcycle production and sales joint venture in Pakistan, on Thursday celebrated the completion of a new second production line at its existing plant, a statement said.  With the newly added second line, the assembly capacity of the plant now reaches 1.2 million units, which is double from its original 600,000 units, it said.

AHL plans to carry out its production enhancement in machining and other fields at its plants during the next three years in stages to accommodate the expected expansion of the motorcycle market in Pakistan.