Islamabad:The Securities and Exchange Commission of Pakistan (SECP) has proposed raising the maximum loan limit for microenterprise and housing finance loans from non-banking microfinance companies to Rs 5 million and increasing the income threshold for individual borrowers from Rs 1.2 million to Rs 1.5 million.
‘The proposals are part of draft amendments to the Non-Banking Finance Companies and Notified Entities Regulations, 2008, issued for public consultation,’ the commission said in a news release.
The SECP has also proposed revising the annual turnover ranges used to classify small and medium enterprises (SMEs) to enable non-banking finance companies to better respond to the growing financing needs of SMEs.
Under the proposed amendments, the annual turnover range for small enterprises would be revised to Rs 30 million to Rs 400 million, compared with the current limit of up to Rs 150 million.
For medium enterprises, the proposed turnover range would be Rs 400 million to Rs 2 billion, against the current range of Rs 150 million to Rs 800 million.
The SECP said the proposed changes would help non-banking finance companies serve more borrowers and respond to the financing needs of businesses, households and individuals.
The draft amendments are available on the SECP’s website, while stakeholders may submit their comments within 14 days to [email protected].