A.   Background

1.  This refer to the related QCs in trial, blue, italic and double Line (a) BFIC 323 of 9.9.25 about PSX & CDC Enhancing Shariah-Compliant Market Services – SECP (b)  This refer to BFIC 322 of 7.9.25 about Summary of Shariat Court Decision against Interest & Insurance - Implementation Deadlines and related Booklet with proper content (Attachment 329.1)  (c) BFIC 313 of 21.5.25 about Promoting Shariah-Compliant Intermediaries Consultation Paper 

2.  We also refer to several Other QCs including (a) BFQC 70 of 24.2.21 about Free Webinar on Shariah-Compliant Shares, Sukuk, etc – MBL (b) BFQC 53 of 3.11.20 about Shariah compliant matter including tax credit (c) CoQC 278 of 6.11.18 about Shariah Governance Regulations & related tax matters vide SRO 1318

B. Updated Commentary

1. Further to KQU 3614, being an important matter, we would inform you about SECP approved Amendments to PSX Rulebook for Holding and Conduct of Corporate Briefing Sessions (Attachment 657.1) in the ensuing paragraph, with emphasis in bold & Underline for quick reading.

2.  The SECP has approved amendments to the PSX regulations, making it mandatory for listed companies to hold Corporate Briefing Sessions (CBS) on their annual audited financial accounts. The reforms are designed to enhance the overall conduct of these sessions by improving investor engagement, reducing information asymmetry, and ensuring the timely dissemination of information.

3.  Under the new framework, listed companies must hold a CBS for their annual audited financial statements within 30 days of their Annual General Meeting. Both the Chief Executive Officer and the Chief Financial Officer, who are well-versed in company affairs, are required to be present at these sessions.

4.  To support this initiative, PSX will maintain a dedicated CBS calendar on its website, featuring notices and presentations for upcoming sessions. Additionally, PSX will launch a video channel to host recordings of CBS sessions conducted by listed companies, providing investors with a centralized facility to access comprehensive information.

5.  Investors and analysts will benefit from the timely availability of information, as session presentations will be published in advance of each CBS. Video recordings will be uploaded to the PSX channel shortly after each session concludes. To further encourage engagement, a mechanism will be introduced allowing participants to submit questions in advance, with adequate time reserved during the sessions to address these queries.

6.  Collectively, these reforms contribute to a more transparent and inclusive capital market environment, helping to build investor confidence and strengthen the relationship between listed companies and their stakeholders.

C.   Further Details & Services

Should you require any clarification or explanations in respect of the above or otherwise, please feel free to email Mr Amsal at amsal@kasbati.co with CC to info.kasbati@professional-excellence.com.

Managing Partner 

Kasbati & Co (1400+ Tax, Levies, Companies, Economy, Inflation, HR, Banking, Finance, etc

Quick Commentary Service Provider and High Level 440+ Tax & Levies Laws Consultants) 

Head of Tax & Professional Excellence Services (Symbols of High Quality Practical Tax, Levies & Corporate Training for Beginners to High Levels' Professionals) 

PTCL: 92-21-34329108 Mobile: 0334 322 3161 Website: kasbati.co Facebook:  https://www.facebook.com/taxexcellence

Google Map link: Tax Excellence  YouTube Channel Tax Excellence