Islamabad, Aug 27: Two Pakistani citizens have been granted permission by the Competition Commission of Pakistan (CCP) to purchase an 8.33 percent stake in National Investment Trust Limited (NITL). Adamjee Foundation will no longer be a shareholder in NITL after the deal.
A key factor in the launch of the investment management industry in Pakistan has been National Investment Trust Limited, which was founded as a Trust on November 12, 1962, by means of a strategic agreement between NITL, acting as the Management Company, and the National Bank of Pakistan, acting as the Trustee.
A broad range of fixed income, equity, and hybrid investment products tailored to investors’ different needs, NITL has been providing comprehensive investment management services throughout the nation for many years.
The relevant market, according to the CCP’s study, is “Asset Management Services,” with a limited geographic reach of Pakistan. Notably, the acquisition won’t change NITL’s nominal market share, maintaining the sector’s competitive balance in asset management.The CCP’s endorsement of this transaction demonstrates its steadfast dedication to enforcing competition law, an essential component of preserving a robust and competitive economic landscape.
