KARACHI: The Board National Clearing Company of Pakistan Limited (NCCPL) has re-elected Humayun Bashir as its Chairman from amongst the independent directors.

NCCPL is an infrastructure institution of Pakistan’s capital market, acting as a central counterparty and the only licensed entity providing clearing and settlement services for trades and transactions executed at the securities exchange.

In additional to clearing and settlement services, NCCPL also computes, determines, collects and deposits Capital Gain Tax (CGT) on disposal of listed securities, units of open ended mutual funds and trading of future commodity contracts as per CGT regime implemented by Federal Board of Revenue (FBR).

Humayun Bashir has over 40 years of diversified experience with IBM in Pakistan, Afghanistan, Iran and MEA Headquarters. He served as country head at IBM Pakistan for more than 16 years.

The NCCPL’s Board now comprise of 11 directors including 7 shareholder’s representatives, two independent directors, nominee from Federal Board of Revenue (FBR) and the CEO Muhamad Lukman. www.nccpl.com.pk