KARACHI, Feb 25: Central Depository Company Limited (CDC) has slashed annual fee for individual investor account holders from Rs1,500 to Rs500 per account, showing a decline of 66.6 per cent.

According to CDC here on Friday, the revised rates would be effective from March 1, 2005. The transaction fee on investor's account has also been clipped by 11.11 per cent, down from Re0.0054 to Re0.0024 per share. Similarly, the transaction fee on participants/account holders has been reduced from Re0.0027 to Re0.0024 per share, marking a reduction of 11.11pc.

An executive of CDC said that the rates had been slashed keeping in view the objective to make this service highly cost effective and convenient to attract more individual investors to open their accounts with the company. He said that CDC has been regularly reducing tariff for its clients.

Investors' accounts have crossed 18,200-mark, while the total number of securities with CDC investors account services is estimated at more than 4.3 billion shares. -APP