SECP amends REIT regulations to boost investment in real estate sector | Graana.com Blog


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ISLAMABAD: Security Exchange Commission of Pakistan (SECP) today (Tuesday) has amended the Real Estate Investment Trusts Regulations 2015 and has introduced a new framework for Public-Private Partnership (PPP) under REIT.

According to the details, the new amendments have made changes to the existing regulatory framework in which disclosure-based issuance has replaced approval-based issuance.

Furthermore, the new regulatory framework is designed to lessen the entry barriers for new REITs and to increase foreign investment in the real estate sector.

As per the notification, the documentation and system of approvals have also been made easier for the new REITs. A REIT Scheme has been made eligible to invest directly or by acquiring the shares of the company.

Simultaneously, SECP has also made changes to the SPV model in which the condition of transfer of title has been omitted.

The commission has also allowed PPP REITs to develop new infrastructure projects in consortium with the government.

 

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Govt to take measures in next budget to boost exports


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ISLAMABAD: The Government of Pakistan is set to draft major tax-related measures to facilitate exporters in the budget (2021-22) in a move to increase exports of Pakistan. 

As per top government representatives, the government will draft a simplified scheme for exporters namely Finance Bill 2021 that will highlight the new facilitative measures. 

Presently, different export schemes are utilised by the exporters. Under the new scheme, all export schemes will be integrated into a single scheme under the Federal Board of Revenue (FBR). 

The scheme has been further sent to leading exporter associations for reviews. 

Integrated schemes proposed by FBR include simplification of export schemes, reduction in import duties to zero for basic raw materials, automated system for redressals etc.  

The FBR revised upwards the duty drawback rates in eight sectors under the “Make in Pakistan” initiative. 

 

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