ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) on Friday approved some amendments to the Modaraba Regulations, 2021, aiming to improve doing business climate in the country.
The amendments have created transitional provisions for Modarabas to comply with the minimum equity requirement such as increased per party house finance limit, SECP said.
The regulator allowed Modarabas to engage in real-estate business, simplified requirements for reserve funds following the withdrawal of tax incentives, aligned the time period for filling casual vacancies with the Companies Act, 2017, and created an enabling provision to impose penalties for violations of provisions of the Modaraba Regulations, 2021.
The amendments, approved after the required public consultation, were notified through publication in the official gazette vide SRO No. S.R.O. 1547 (I)/2022, which is available at SECP website.
In addition, SECP also notified a circular for real estate investments, setting conditions for Modarbas to invest in real estate projects.
Sheikh argued that the government should have maintained stable petroleum prices
MARI has successfully drilled and tested the third appraisal well in the Ghazij formation in the Mari D&PL
Gold rates decreased by $17 to $2,395 per ounce in the international market
Company's revenue saw a 13.9% year-on-year increase, reaching Rs49.2 billion, up from Rs43.19 billion in the same...
A man counts US dollars in a money exchange shop in Dhaka. — AFP/FileLAHORE: The first thing that the government...
Power generation stood at 8,741 gigawatt-hours or 11,749 megawatts in March
