Pakistan News

    Deposit Taking Nbfc Pakistan

  • Amendments notified in NBFC rules

    ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) notified amendments in Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003...

    The concept of small and mid-sized non-deposit taking NBFCs has been introduced with significantly reduced equity requirements of Rs50 million only...

  • Gas utilities want 50pc more in security deposit from domestic consumers

    ISLAMABAD: Struggling to cope with increasing system losses and theft, two gas utilities — the SNGPL and SSGCL — have sought a 50 per cent increase in security deposit for all domestic consumers to generate Rs9 billion and partially offset revenue shortfalls...

    The move, if approved, will affect around seven million consumers of the two utilities, as they will be charged Rs4,500 each as security deposit instead of the existing...

  • 13 candidates forfeited security deposit in NA-246 by-poll: RO

    KARACHI: Except the candidate of the Pakistan Tehreek-i-Insaf, the remaining 13 candidates who lost the NA-246 by-election forfeited their security deposit under the election rules, it emerged on Friday...

    According to the rules, a candidate has to secure one-eighth of the total votes polled in a constituency, otherwise he or she loses the security deposit of Rs4,000...

  • Govt asked to deposit compensation in SHC for accident victims

    KARACHI: The Sindh High Court on Friday directed the provincial government to deposit the amount of compensation for families of victims of the Superhighway traffic accident tragedy with the SHC Nazir within seven days...

    He said there were fire engines of the Pakistan Steel Mills near the place of the accident, but the PSM administration declined to give any assistance...

  • 41 candidates of NA-120 to forfeit security deposit with ECP over low votes

    Out of the 43 candidates that contested NA-120 by-elections on Sunday, 41 will have to forego the security deposit submitted with the Election Commission of Pakistan (ECP) as they all failed to secure the required votes from the total ballots cast in the constituency...

    5 per cent) of the total votes cast in a constituency from where they contested the polls, would have to forego the security deposit...

  • PTI candidate told to deposit voters verification fees

    ISLAMABAD: The Supreme Court ordered on Tuesday that PTI candidate Hamid Khan, who lost the 2013 general elections from NA-125 Lahore constituency, to deposit the expenses for verifying thumb impressions by Nadra...

    On Tuesday, the court took up the Feb 15 application of Mr Khan seeking a direction that the cost of verification of thumb impressions be borne by the Election Commission of Pakistan (ECP)...

  • SC asks three oil exploration companies to deposit Rs100m

    ISLAMABAD: The Supreme Court on Tuesday asked three oil exploration companies from Sindh to deposit a total of Rs100 million — a contribution towards the Workers Welfare Fund (WWF) for the period 2015 — in the office of the court’s registrar until it decides finally whether the federal or the provincial government should collect the funds after the subject of labour welfare has been devolved to provinces under the 18th Amendment to the...

  • 1,500 citizens voluntarily ‘deposit’ weapons

    RAHIM YAR KHAN: Around 200 candidates for local polls are among 1,500 citizens who have ‘deposited’ their licensed arms with the local police stations to ensure law and order during election...

    In a press release issued here on Tuesday, District Police Officer Zahid Nawaz Marwat said police collected 3,215 surety bonds from candidates to ensure peace
  • Currency dealers deposit record $192m in banks

    “Exchange companies at times deposit up to 70 per cent of their dollars stock in banks due to surplus supply and low demand,” Forex Association of Pakistan’s President Malik Bostan, who finalised the data for September, said on Tuesday...

    “On average, they deposit $30m to $40m per month in banks...

  • Withholding tax slows down bank deposit growth: State Bank

    KARACHI: Withholding tax (WHT) on financial transactions is acting against the goal of achieving financial depth, a State Bank of Pakistan’s (SBP) report said on Friday, highlighting that for the first time since 2009-10 the monetary expansion came more from currency in circulation than the bank deposit growth...

    However, all these moves resulted in the slowdown of bank deposit growth, and forced medium- and small-sized banks to offer...

  • Metro train project: LDA to deposit Rs13.17bn after property assessment

    LAHORE: The District Price Assessment Committee (DPAC) has almost worked out the total cost of private residential and commercial land/property to be acquired for the Lahore Orange Line Metro Train project, urging the Lahore Development Authority (LDA) to deposit over Rs13...

    17 billion with the government treasury under head of “Revenue Deposit 3500/3501”...

  • SBP launches deposit protection mechanism

    KARACHI: The State Bank of Pakistan (SBP) on Friday launched the Deposit Protection Corporation (DPC) to provide protection for the depositors in the event of a bank failure...

    The DPC is a wholly-owned subsidiary of SBP and is a deposit protection mechanism for depositors...

  • ECP withholds security deposit submitted by 120 NA candidates contesting from Lahore

    The security deposit submitted by 120 candidates contesting from 14 National Assembly constituencies in Lahore has been withheld by the Election Commission of Pakistan (ECP) because the contestants failed to procure one-fourth of the votes polled in their respective constituencies...

    Under Clause 61 of the Election Act 2017, contestants for NA seats need to submit Rs30,000 while provincial assembly contestants need to submit Rs20,000...

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