NCCPL issues final notice to four brokers

The National Clearing Company of Pakistan Limited (NCCPL) has served Final Loss Notice to four members on Monday owing to their disability of paying cumulatively Rs160 million dues to the Company on account of Continuous Funding System (CFS).

“Finally four members (three members of Karachi Stock Exchange and one member from Lahore Stock Exchange) are still unable to meet their final aggregate demand of approximately Rs160 million. Consequently they have been served Final Loss Notice by NCCPL of one business day to settle their outstanding demand,” said NCCPL handout.

Earlier, NCCPL has introduced a voluntary CFS MK-II Square-up Scheme to settle the disputed open position of Rs9.8 billion. All the CFS participants have paid their dues through availing one-time voluntary scheme or otherwise, but four of members failed to do so and they have been served the loss notice, it was learnt.

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