SECP triples Sahulat Account limit to Rs3m

March 14, 2026 (MLN): The Securities and Exchange Commission of Pakistan (SECP) has significantly expanded access to the stock market for small investors by raising the investment limit for Sahulat Accounts from Rs1 million to Rs3 million.

This move aims to simplify participation in the capital market and encourage retail investment.

According to a press release issued on Saturday, the enhanced limit brings the Sahulat Account framework closer to investment thresholds available in the banking sector, which made it easier for individuals to begin investing through a simplified brokerage account structure.

The Sahulat Account was originally introduced to facilitate small retail investors and first-time market participants through a streamlined onboarding process.

Under this framework, individuals can open a trading account with a licensed securities broker by submitting only their Computerised National Identity Card (CNIC), significantly reducing documentation requirements.

In another key reform, the SECP has now allowed investors to open Sahulat Accounts with multiple licensed securities brokers, offering greater flexibility in choosing brokerage services. ]

However, investors may maintain only one Sahulat Account with each broker.

The regulator said the initiative is particularly suitable for low-risk retail investors who may have been discouraged from entering the stock market because of complex account-opening procedures.

Currently, all licensed securities brokers offer Sahulat Accounts, which can also be opened online, thereby expanding accessibility for investors nationwide.

Individuals categorised as low risk by the broker’s risk assessment process may open such accounts, with brokers applying simplified due diligence.

Market data show 542,748 individual sub-accounts, of which 144,634 are classified as Investor Accounts (Individual). These also include investors operating through the Roshan Digital Account (RDA) framework.

The SECP said it will continue to introduce reforms to simplify investment processes, enabling young investors to participate confidently in Pakistan’s formal capital markets rather than using unregulated and unauthorised foreign investment platforms.

Comparison with India’s Small Investor Account Model

The revised Sahulat Account structure now closely resembles the Basic Services Demat Account (BSDA), introduced by the Securities and Exchange Board of India (SEBI), to encourage participation by small retail investors in India’s capital markets.

Like Pakistan’s Sahulat Account, the BSDA is designed to lower barriers to entry for retail investors by reducing account maintenance costs and simplifying account opening procedures.

Under India’s framework, the BSDA allows investors to maintain securities holdings with reduced annual maintenance charges, provided the total value of securities does not exceed ₹10 lakh.

The limit was raised in 2024 to promote wider participation among smaller investors.

Both the Sahulat Account and BSDA share several structural similarities:

Pakistan’s simplified Sahulat Account investment cap of Rs3 million is now more comparable to India’s BSDA framework in terms of encouraging broader retail participation and lowering entry barriers in capital markets.

Expanding the Sahulat Account limit could help attract a larger base of young and first-time investors, supporting deeper participation in the country’s equity market.

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