SECP proposes Rs5m housing loan limit

The Securities and Exchange Commission of Pakistan has put forward a plan to lift the ceiling on microfinance and housing loans to Rs5 million, according to The Express Tribune. The regulator released the proposal in a notification and framed the changes as amendments open to consultation with stakeholders. The income cap for microfinance borrowers would move up from Rs1.2 million a year to Rs1.5 million.

Turnover limits for small and medium enterprises also feature in the package, with the small business ceiling suggested at Rs400 million, up from Rs30 million. Medium-sized firms could have their cap lifted, going from Rs800 million to Rs2 billion. According to the SECP, the SME figures match recent changes made by the State Bank of Pakistan.

Affected parties have been invited to weigh in on the draft changes and send their comments. The amendments remain proposals while the consultation runs.