May 30, 2019: The Central Depository Company of Pakistan (CDC) Limited has lowered its tariff structure as a gesture of support for the browbeaten stock market of Pakistan, reports local media.
In order to lay off burden from the already discouraged investors, CDC has reduced the annual fee on long term redeemable securities by nearly 65%.
As part of the recent reduction, CDC has provided 100% waiver on Maintenance fee for such Sub-Account holders who also have Investor Accounts.
Moreover, they have revised down their tariff structure for the next five years along with reduction in custody fee for the year 2019-20 and 2020-21 by 14% and 16% respectively.
Commenting on this market supporting endeavor, Mr. Badiuddin Akber, CEO-CDC said that “This initiative was taken by CDC to give much needed relief and support to the market, especially the investing public. While CDC continues to reduce its tariff since its inception, we are targeting our efforts towards helping reduce the cost of doing business for market participants. This is our ongoing contribution towards the development of Pakistan Capital Market.”
