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Govt decides to cancel visa of foreigners linked with ARK Infotech

ISLAMABAD: The government has decided to cancel visas of all foreigners, who are linked with A.R.K Infotech, and deport them. The decision was taken by Interior Minister Chaudhry Nisar Ali Khan after reviewing the JIT report on abduction of Chinese nationals from Quetta. He also decided to immediately cancel registration of such companies. The Interior…

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July 26, 2017


Watch: Dar reveals why SECP chief wasn’t suspended earlier

Finance Minister Ishaq Dar disclosed why Securities & Exchange Commission of Pakistan (SECP) chairman Zafar Hijazi was not suspended earlier.

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July 22, 2017


Video: Hijazi denies knowledge about female reporter held hostage

ISLAMABAD: Inside PIMS hospital, SECP Chairman Zafar Hijazi claimed that he knew nothing about the female reporter who was kept hostage by FIA personnel.  A person can be heard asking Zafar Hijazi about the female reporter Saba who was allegedly held hostage by FIA personnel for taking Hijazi’s picture. “I do not know anything. I…

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July 21, 2017


Chairman SECP Zafar Hijazi falls ill following arrest

ISLAMABAD: Chairman of the Securities and Exchange Commission (SECP) Zafar Hijazi fell ill on Friday, hours after he was arrested when a local court rejected his bail request.  According to details, Zafar Hijazi stated that he’d undergone a kidney transplant hence it was of utmost importance that he be hospitalized. “If I am not hospitalized,…

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July 21, 2017


FIA lodges case against SECP chief

ISLAMABAD: Acting on the order of the Supreme Court, Federal Investigation Agency (FIA) on Monday registered a case against Securities and Exchange Commission of Pakistan (SECP) Chairman Zafar Hijazi for misconduct. According to sources, a two-member FIA’s team comprising Tanvir and Farooq Latif has been set up to arrest Hijazi. The SECP chairman has been…

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July 10, 2017


Documents were tampered on instructions of Zafar Hijazi: SECP Director

NEWS DESK Director of Securities & Exchange Commission of Pakistan (SECP) Maheen Fatima has confessed that the records sought by joint investigation team were tampered on the directions of its Chairman Zafar Hijazi. In a confession statement to Federal Investigation Agency, SECP Director Maheen revealed that Zafar Hijazi told them to tamper the records. She…

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July 3, 2017


SECP chairman pressured to temper record, reveals director

ISLAMABAD: A director of Securities and Exchange Commission of Pakistan (SECP) has revealed that the SECP record on Sharif family’s business details was changed at the behest of chairman Zafar Hijazi. Samaa has received the copy of the statement which SECP Director Maheen Fatima got recorded with Federal Investigation Agency (FIA) and confessed to having…

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July 3, 2017


In report to SC, JIT says state institutions obstructing its functioning

ISLAMABAD: Some state institutions are creating hurdles in functioning of Joint Investigation Team (JIT) sanctioned by Supreme Court of Pakistan to probe London flats and Hudaibia Papers Mills, according to the report presented to the apex court. The JIT report submitted to the apex court plainly stated that some government institutions are wholly indisposed for…

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June 14, 2017


SECP submits offshore companies record of PM’s sons to JIT

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) submitted the record in connection with the offshore companies of Hussain and Hassan Nawaz to the Joint Investigation Team (JIT) probing the Panama case charges. Meantime, the SECP constituted a team to assist Bilal Rasool. The team consists of Hamid Javed, Khurram Husain, Haroon Abdullah and Anwar…

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June 1, 2017


Curious case of the WhatsApp messages to the SECP chief

ISLAMABAD: Chairman of Securities and Exchange Commission of Pakistan (SECP) claimed he received a Whatsapp call from an unknown caller who stressed on him to recommend Bilal Rasool to be on the panel of the Joint Investigation Team (JIT) carrying out inquiry against Sharif family. The SECP boss wrote a letter to Registrar Supreme Court…

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May 31, 2017


SECP files fourth criminal case on insider trading by bank employees

ISLAMABAD: In continuation of its recent crackdown on banks’ employees conducting insider trading, the Securities and Exchange Commission of Pakistan (SECP) has filed its fourth such criminal complaint in the Karachi sessions court against three employees of bank and their accomplices. The employees accused of this grave offense were holding key positions as head of…

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May 17, 2017


Detained stock market guru identified as Mir Muhammad Ali

A day after Securities and Exchange Commission of Pakistan (SECP) said it had caught a “self-styled stock market guru”, Chairman Zafar Hijazi noted that Mir Muhammad Ali Khan has been encouraging his followers through Facebook by giving self-serving investment tips. Addressing a press conference at the SECP head office on Tuesday, Hijazi shared the details…

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May 9, 2017


Panama Case: SC expresses no-confidence with SBP, SECP names

ISLAMABAD: Supreme Court of Pakistan (SC) will decide the names for the joint investigation team which will probe the Panama Papers Case against the Sharif family, Samaa reported. A three-member special bench led by Justice Ijaz Afzal Khan heard the implementation of Panama papers case. The top court has summoned the heads of Security and…

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May 3, 2017


Well-being of general public will be on priority in budget: Dar

ISLAMABAD: Federal Minister for Finance Ishaq Dar Sunday said that ensuring well-being of the general public would be accorded the utmost priority while preparing the budget for the fiscal year 2017-18. The Minister said that, keeping in line with the past four years’ tradition, the present PML-N Government will take all opinion, proposals and constructive…

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April 9, 2017


Ishaq Dar urges SECP to continue measures to facilitate corporate sector

ISLAMABAD: Federal Finance Minister Ishaq Dar has urged Securities and Exchange Commission of Pakistan (SECP) to continue undertaking measures to further facilitate the corporate sector. He was chairing a meeting in Islamabad to review matters related to the Commission. Chairman SECP briefed the Finance Minister on the legislative and reforms measures being taken by the…

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December 26, 2016


Ishaq Dar takes notice of Panama-like Leaks

ISLAMABAD: Federal Finance Minister Ishaq Dar Thursday took notice of yet another spate of revelations regarding offshore companies owned by Pakistani nationals—this time round, Bahamas Leaks. Dar directed State Bank of Pakistan (SBP) and Securities, Federal Board of Revenue (FBR) and Exchange Commission of Pakistan (SECP) to immediately conduct inquiry into the fresh revelations. He called…

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September 22, 2016


Pakistan grants tax neutrality for sukuk deals

ISLAMABAD: Federal Board of Revenue has granted sukuk transactions similar tax treatment to conventional bonds, the latest government incentive aimed at developing the country’s Islamic finance sector. In a statement late on Saturday, Pakistan’s capital market regulator – which recommended the change – described the move as a landmark decision, because previous tax treatments had…

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September 4, 2016


SECP places mutual funds returns on its website

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has uploaded returns of mutual funds as of June 30, 2016, on its official website. The SECP took this initiative to facilitate and encourage investors in making informed investment decisions. The summary report contains information about all the categories of mutual funds. The objective is to…

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August 18, 2016


Dr Asim case: NAB report opens new pandora box

KARACHI: The National Accountability Court on Tuesday produced before Accountability Court a preliminary investigation report into Dr Asim case, revealing huge financial favours were granted to a local businessman during PPP government. The report presented by NAB officer Zameer Abbasi reveals that Dr Asim Hussain had arranged a meeting between Jahangir Siddiqui, a local businessman,…

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January 5, 2016


KSE, LSE, ISE integrated into Pakistan Stock Exchange

ISLAMABAD: The government has integrated Karachi Stock Exchange (KSE), Lahore Stock Exchange (LSE) Islamabad Stock Exchange (ISE) to form national stock exchange to be called as “Pakistan Stock Exchange” (PSE). In this regard, a Memorandum of Understanding (MoU) was signed at Securities and Exchange Commission of Pakistan (SECP) on Thursday by the chairmen of respective…

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August 27, 2015


Pakistan merging its stock exchanges into one

ISLAMABAD: The demutualization committees of Karachi  Stock Exchange (KSE), Lahore Stock Exchange (LSE) and Islamabad Stock Exchange (ISE) have agreed in principle to integrate the three stock exchanges to form one national stock exchange. “In this regard, a formal MoU would be signed on August 27, in the  presence of the Federal Finance Minister, Senator…

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August 25, 2015