Amid the tough economic conditions of the country, the Securities and Exchange Commission of Pakistan (SECP), in an attempt to attract more investments in the capital market of the country, has decide to relax several tariffs being charged by the National Clearing Company of Pakistan Limited (NCCPL) and the Central Depository Company of Pakistan Limited (CDC). According to a press released by the SECP issued on Monday, September 23, 2019, the tariff structure of the NCCPL and the CDC have been changed to develop the capital markets of the country. The tariffs that have been revised are as follows:
- Sub-accounts maintenance fee of sub-account holders maintaining Investor Accounts with CDC has been waived off.
- Tariffs on annual redeemable securities fee has been reduced by almost 70%.
- Custody fee for 2020 and 2021 has been reduced by 14%.
- Fresh issuance fee for issuers has been reduced by Rs15 million.
- Charges for Collective Investment Schemes (CIS) have been reduced.
- UIN maintenance fee has been reduced by 50%.
- IDS transaction fee for CISs and Institutional Delivery System (IDS) fee has been reduced by 20%.
- Annual capital gain tax fee has been reduced for small local investors.
The press release said that, “The SECP is continuously striving to introduce measures for simplifying and reducing the cost of doing business to facilitate investors and bringing confidence in “the capital market of Pakistan.”