The Securities and Exchange Commission of Pakistan on Tuesday sent the draft of the proposed ''Private Equity and Venture Capital Fund Rules'' to its parent ministry--Ministry of Finance--for review and vetting.
The rules will be notified under the regulatory framework of Part VIII-A of the Companies Ordinance, 1984 that governs the non-banking finance companies (NBFCs) sector.
However, in order to expedite stakeholders'' feedback from financial community, the Commission has placed the draft rules on its website. The Commission looks forward to constructive comments from all relevant stakeholders. These comments will play a vital role in preparing a regulatory framework that fosters the growth of the Private Equity and Venture Capital Business in Pakistan, a press release by SECP said.
The full draft of these rules has been placed on the website of SECP (www.secp.gov.pk). Comments and suggestions on the draft rules may be forwarded to: Muhammad Imran Sajid, Assistant Director, Non-banking Finance Companies Department, Securities and Exchange Commission of Pakistan, 5th Floor, NIC Building, Blue Area, Islamabad. Fax (092)(051) 9218590-E-mail: imran.sajid @secp.gov.pk.-PR
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