2. 2
3/6/2023
Set up under the Securities and Exchange Commission of
Pakistan Act, 1997.
Became operational on January 1, 1999.
Our responsibilities are :
◦ Regulation of corporate sector and capital market;
◦ Supervision and regulation of Insurance companies;
◦ Supervision and regulation of non-banking finance companies and
private pensions schemes;
◦ Oversight of various external service providers to the corporate and
financial sectors, including chartered accountants, credit rating agencies,
brokers, surveyors etc.
◦ See our website at www.secp.gov.pk
Functions and Role
3. 3
3/6/2023
1997
•SECP Act Promulgated
1999
•Establishment of SECP
•Regulation of corporate entities and administration of the corporate laws
•Regulation of the capital market
2000
•Regulation of insurance sector
•Regulation of Non-Banking Financial Companies
2005
•Regulation of private pensions
2015
•Securities Act, 2015
2016
•Securities and Exchange Commission of Pakistan (Amendment) Act, 2016
•Futures Market Act, 2016
•Corporate Restructuring Companies Act, 2016
2017
•Limited Liability Partnership Act, 2017
•Companies Act, 2017
2018
•Corporate Rehabilitation Act 2018
SECP Timeline
6. 6
3/6/2023
SECTOR
No of companies
as of Jun 30, 2019
TRADING
12,895
SERVICES
12,191
TOURISM
8,788
CONSTRUCTION
7,907
INFORMATION TECHNOLOGY
7,269
MISCELLANEOUS / OTHERS
6,752
TEXTILE
5,266
FOOD AND BEVERAGES
3,620
COMMUNICATIONS
3,075
Others 33,562
Total 101,325
Sectoral Distribution
8. 8
3/6/2023
In World Bank Doing Business Report 2019 Pakistan’s overall
ranking improved by 11 notches (from 147 to 136).
In “Starting a Business” indicator our ranking improved from
142 to 130;
The relevant extract of World Bank Report:
Doing Business Report
2019
Starting a Business: Pakistan made starting
a business easier by enhancing the online
one-stop registration system, replacing
several
forms for incorporation with a single
application and establishing information
exchange between the registry and the tax
authority.
10. 10
3/6/2023
Company Incorporation procedure simplified
Several Forms merged into one Form;
Major Reforms
Old Forms Replaced By
Form 1 (Declaration of Applicant for
Incorporation)
Inc. Form-II (Application for
Company Incorporation);
Form 21 (Notice of Situation of Registered
Office )
Form 27 (List of Persons Consenting to
Act as Directors)
Form 28 (Consent to Act as Director/Chief
Executive)
Form 29 (Particulars of Directors and
Officers Including the Chief Executive etc.)
11. 11
3/6/2023
Single Form for Company Incorporation i.e. Inc.
Form-II (Application for Company Incorporation);
Registered office address of the company;
Principle line of business;
Company’s Capital Structure;
Particulars of subscribers, directors and chief
executive officer of the company.
Major Reforms
12. 12
3/6/2023
Company Incorporation procedure simplified;
Name reservation and incorporation procedure merged;
Facility provided for online payment of fee through mobile
and internet banking;
Scanned Copy of Certificate of Incorporation being sent
through e-mail;
Company incorporation time reduced to four working hours.
Major Reforms
13. 13
3/6/2023
Facilitation Measures: No need to hire a consultant
for registration of a company;
Complete guidance material including fee schedule,
standard Memorandum and Articles of Association for
more than 80 sectors available at SECP website;
Facilitation desks at Company Registration Offices
provide complete assistance for company registration;
Application can be submitted online as well as offline;
More than 90% companies being incorporated online.
Major Reforms
20. 20
3/6/2023
Continued……..
Impact of Reforms
Same day Company Incorporation %age 54%
Integration with FBR- effective from March 2018
NTN issued through SECP-FBR integrated
system in one year (March 2018-2019)
13,325
NTN issued in corresponding period last year
(March 2017-2018)
4,093
Integration with Employees Old Age Benefits Institution
(EOBI)-effective from Jan 29, 2019
No. of Companies registered with EOBI as of Jun
30, 2019
77
21. 21
3/6/2023
Continued……..
Integration with Punjab Business Registration Portal -
effective from Dec 31, 2018
No. of Companies registered with Punjab Employees
Social Security Institution (PESSI) as of Jun 30, 2019
33
No. of Companies registered with Labor Department,
Punjab as of Jun 30, 2019
24
No. of Companies registered with Excise & Taxation
Department, Punjab as of Jun 30, 2019
20
Impact of Reforms
22. 22
3/6/2023
Continued……..
Integration with Sindh Business Registration Portal –effective
from Feb 20, 2019
No. of Companies registered with Sindh Employees
Social Security Institution (SESSI) as of Jun 30, 2019
15
No. of Companies registered with Labor Department,
Sindh as of Jun 30, 2019
10
No. of Companies registered with Excise & Taxation
Department, Sindh as of Jun 30, 2019
13
Impact of Reforms
24. 24
3/6/2023
Establishment of State of the Art Business Centers in
Karachi Lahore and Islamabad;
Introduction of digitally signed certificates of
incorporation/registeration in line with international
jurisdictions.
Future Agenda
Editor's Notes
Every company which is registered with SECP is issued NTN through new integrated system instantly.
Companies may opt to register with PESSI/SESSI, Labor Department & Excise and Taxation Department of Punjab and Sindh at the time of company incorporation.
Data of all companies is shared with EOBI and Business Registration Portal of Punjab and Sindh (dealing registrations with PESSI/SESSI, Labor Department & Excise and Taxation Department) for use when a company apply for registration subsequently.
Every company which is registered with SECP is issued NTN through the new integrated system instantly.
Companies may opt to register with PESSI/SESSI, Labor, Excise and Taxation Department of Punjab and Sindh at the time of company incorporation.
Data of all companies is shared with EOBI and Business Registration portal of Punjab and Sindh (PESSI/SESSI, Labor, Excise and Taxation Department) for use when a company apply for registration subsequently.
Every company which is registered with SECP is issued NTN through the new integrated system instantly.
Companies may opt to register with PESSI/SESSI, Labor, Excise and Taxation Department of Punjab and Sindh at the time of company incorporation.
Data of all companies is shared with EOBI and Business Registration portal of Punjab and Sindh (PESSI/SESSI, Labor, Excise and Taxation Department) for use when a company apply for registration subsequently.
