SECP Seeks to Align Companies Act to Promote Business Growth

In order to align the company law with international best practices and promote business growth and development in Pakistan, the Securities and Exchange Commission of Pakistan (SECP) has initiated a comprehensive review of the Companies Act, 2017.

To that end, SECP Chairman Akif Saeed has established a special committee tasked with reviewing the Act, recommending amendments, and organizing an extensive consultation with stakeholders.

In a statement, SECP said that it believes that expert opinions and insights can play a vital role in ensuring that any proposed changes in the Act align with international best practices.

The statement added that all stakeholders, including industry experts, business owners, investors, lawyers, accountants, corporate consultants, experts, and other stakeholders are welcome to share their thoughts that could improve the Companies Act, 2017.

The stakeholders are urged to provide their feedback and suggestions on areas such as governance, compliance, financial reporting, stakeholder facilitation, and any other critical aspect of the Act, it added.