The Securities and Exchange Commission of Pakistan has withdrawn its press release of 21 May 2025 that publicised a direction requiring United Insurance Company of Pakistan Limited to cease its fresh guarantee business, following the suspension of that direction by the Islamabad High Court. SECP had issued the underlying direction on 20 May 2025. The withdrawal follows a petition filed by United Insurance before the Islamabad High Court, after which the court suspended SECP’s 20 May 2025 direction and the regulator withdrew the associated press release.
Securites & Exchange Commission of Pakistan 2025-09-04
Securities and Exchange Commission of Pakistan withdraws May 2025 press release on United Insurance guarantee business cessation after Islamabad High Court suspension
The Securities and Exchange Commission of Pakistan has retracted its 21 May 2025 press release directing United Insurance Company of Pakistan Limited to halt its fresh guarantee business. This follows the Islamabad High Court's suspension of the SECP's 20 May 2025 directive after a petition by United Insurance.