Business plans: Govt to launch ‘Sindh Modaraba’

Sindh government to set-up three separate companies in leasing, Modaraba and insurance sectors.

KARACHI: The registrar, Modaraba Companies and Modarabas, Securities and Exchange Commission of Pakistan, (SECP) Islamabad has approved the registration of Sindh Modaraba Management Limited, the management company on February 24, 2014 for the floatation and listing of Sindh Modaraba.  The Sindh government, in a bid to strengthen its footprint in the financial sector, announced in its budget speech in June, 2013 to set-up three separate companies in leasing, Modaraba and insurance sectors. This decision was largely conceived on the successful launch of the Sindh Bank Limited three years ago, registering a phenomenal growth over a short period. The business plan of Sindh Modaraba, reviewed by the registrar, Modaraba Companies and Modarabas, SECP was developed with the guidance of board of directors.

Published in The Express Tribune, March 18^th, 2014.

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