The Securities and Exchange Commission of Pakistan (SECP) has issued a list of 20,566 inactive companies to update the registration data of companies not involved in any business activities.
The SECP has issued names, registration numbers, cities, incorporation dates/registration dates, and concerned SECP regional offices for inactive companies.
The updated list contains details of the inactive companies (up to July 1, 2022) compiled by the SECP during Feb 2023.
According to the list, the SECP has given the status of inactive to 20,566 companies in order to strike off inactive companies from its records.
As per the data released by the SECP, the number of incorporations has almost doubled during the last two years. This growth has been witnessed despite the fact that inactive companies have been removed from its books to streamline the working of registered companies.
The removal of companies from the records of the SECP would have an impact on the overall numbers of the corporate registration data, but these inactive companies were required not to be part of the SECP’s database of active companies.
Moreover, many inactive companies, which requested de-registration or delisting, have been facilitated after fulfillment of the concerned rules and regulations.
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