Islamabad, June 11: The Securities and Exchange Commission of Pakistan (SECP) has submitted draft amendments to the Companies Act, 2017, to the Finance Division for consideration. The proposed amendments incorporate measures under the Board of Investment’s (BoI) Ultra-Fast Track Package and Regulatory Reform Packages for listed and unlisted companies, aimed at improving ease of doing business, digitization and strengthening Pakistan’s investment climate an official handout said on Thursday.
The update was shared by SECP Chairman Dr. Kabir Ahmed Sidhu during a meeting with a delegation of the Board of Investment (BoI) at the SECP Head Office. The meeting was attended by Dr. Waqar Ahmad, Director Reforms, BoI; Mr. Scott Jacobs, Regulatory Reforms Consultant to BoI; Mr. Mubasher Saeed Saddozai, Executive Director, Licensing and Registration Division, SECP; and other officials from both organizations.
The two sides reviewed progress on ongoing reform initiatives and discussed measures to facilitate investment, improve the business environment, and enhance Pakistan’s competitiveness under international business and investment benchmarks.
The meeting also reviewed progress on several multi-agency reform initiatives being coordinated by BoI. Under the Tax Reform Package, discussions focused on issues affecting investment and business growth, including legal and regulatory framework of Venture Capital and Private Equity Funds, inter-corporate dividends, Limited Liability Partnerships (LLPs), and bonus shares.
It is pertinent to mention that the Cabinet Committee on Regulatory Reforms (CCoRR) has constituted committees comprising representatives from FBR, SECP, and Tax Policy Office (TPO) to address taxation issues relating to venture capital and LLP structures.
Recognizing the growing importance of Pakistan’s startup ecosystem, the meeting also discussed the need for a harmonized definition of startups across regulatory and development institutions, including SECP, the State Bank of Pakistan, SMEDA, and other relevant stakeholders.
BoI briefed participants on progress under the World Bank’s Business Ready (B-READY) framework and highlighted reforms being undertaken to improve Pakistan’s performance under the Business Entry indicator. BoI informed the meeting that 14 priority reform areas have been identified, while noting that SECP has already implemented most of the proposed measures, reforms completed by September 1, 2026, will be considered for inclusion in the World Bank’s next assessment cycle.
Both organizations agreed to continue close collaboration to strengthen regulatory cooperation, remove regulatory bottlenecks, facilitate investment, and promote a more efficient, transparent, and investor-friendly business environment in Pakistan.