Karachi: The National Clearing Company of Pakistan Limited (NCCPL) has announced a significant waiver of the Unique Identification Number (UIN) and Know Your Customer Officer (CKO) Annual Maintenance Fee for retail investors who have remained inactive throughout the year. The decision, which aims to reduce the financial burden on market participants, was disclosed in a letter dated October 22, 2025.

The waiver is part of NCCPL's and the Securities and Exchange Commission of Pakistan's (SECP) broader initiative to create a more investor-friendly environment, promoting increased participation in the capital markets. The revised fee schedule stipulates that while the UIN and CKO fees will continue to be charged upon induction, inactive retail investors will not incur these fees if no trades were executed during the preceding year. The waiver takes immediate effect.

According to information available from the Pakistan Stock Exchange (PSX), this move is expected to alleviate ongoing maintenance costs for investors who have not participated in trading activities over the year. The SECP has granted approval for these amendments without seeking public comments, highlighting the urgency and importance of the reform.

The amendments pertain to the NCCPL Regulations, 2015, and the Centralized Know Your Customer (KYC) Organization (CKO) Regulations, 2017. The proposed changes include maintaining the UIN and CKO fees at the initial registration stage but waiving them for subsequent years if an investor remains inactive.

Additionally, NCCPL has been advised to resubmit proposals regarding other fees and charges, such as those related to Capital Gains Tax (CGT) fees, IDS Facility Fee, and Trade Fee on Cash Settled Future (CSF) Contracts, after conducting an impact analysis and soliciting public feedback.

The ongoing efforts reflect NCCPL's commitment to easing the cost burden on market participants and fostering a more conducive investment landscape. The approved changes are effective as of the date of the letter.