You can now open investment accounts online without agent, middleman
ISLAMABAD: In its bid to pan out ease of doing business for entrepreneurs and enterprises, the government has rolled out another policy Thursday allowing investors to open capital market accounts online, ARY News reported.
This is a key step towards market growth and investment volume surge as it will allow the market to accommodate more investors, the notification read today.
Securities and Exchange Commission of Pakistan (SECP) released this notification today allowing capital market investors to open their accounts online without hassle from any agents and middlemen.
This development will ensure transparency in the system and will allow more investors to turn towards capital markets as they will be facilitated swiftly without any suspicions as to the credibility of the system, SECP notification added.
Separately, it may be noted that federal revenue board shared earlier its monthly report on tax revenue collections across Pakistan noting Rs1.688 trillion in the July-Nov period claiming a jump of Rs19 billion above target, ARY News reported.
According to the FBR press statement released today, set target for Jul to Nov period was Rs1.669 trillion, however, the total collections marked Rs19 billion above target, and added that on year-on-year comparison, this year translated in a surge of Rs65 billion.
In its revenue break up, the tax body said it earned Rs577 billion on account of income-tax, while Rs743 billion under sales-tax head.