Under Companies Ordinance 1984: PDFL to be made functional

byMati ur Rehman

18/03/2015

in Business

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ISLAMABAD: Federal Finance Minister Ishaq Dar, during the second meeting of Pakistan Development Fund Ltd (PDFL), has been told that all requirements have been completed to make the Fund functional and fully compliant with the Companies Ordinance 1984.

The documents were under submission to the Securities and Exchange Commission of Pakistan (SECP) for grant of licence as Non-Bank Finance Companies (NBFCs), according to a finance ministry statement.

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The Board of directors also authorised the chief executive officer (secretary finance) and the company secretary (additional secretary) to manage, operate and draw amounts from the PDFL account to comply with the requirements of SECP.

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