SUBJECT: BUSINESS AND CORPORATE LAW

Submitted to: Ms. Zunaira Saddam

Submitted by: Aiza Abbas (BBA-2020-39)
 Securities & Exchange Commission of Pakistan (SECP)

The Securities & Exchange Commission of Pakistan (SECP) is the financial regulatory agency in

Pakistan. Its purpose is to develop a modern and efficient corporate sector and a capital market,
in order to encourage investment. This will in return contribute to economic growth and
prosperity in Pakistan. Another objective is supervision and regulation of insurance companies,
non-banking finance companies and private pensions. The SECP also manage various external
service providers to the corporate and financial sectors. This includes chartered accountants,
credit rating agencies, corporate secretaries, brokers, surveyors etc.

The Securities and Exchange Commission of Pakistan (SECP) is the successor to the former
Corporate Law Authority (CLA). The Securities and Exchange Commission of Pakistan Act was
promulgated in December 1997 and became operational on January 1, 1999.

Markets & Businesses Regulated:

 Stock & Commodity Exchanges

 Depository and Clearing Institutions
 Stock & Commodity Brokerage Business
 Asset Management Business
 Investment Advisory Business
 Investment Banking Business
 Insurance Companies

Ministry of Commerce

The Ministry of Commerce is mandated to formulate and implement the national trade policies
aiming to contribute to the national economy by safeguarding and promoting Pakistan’s trade
interests at national and internal level. It aims to achieve higher market access for Pakistani
products in existing markets as well as exploring new markets with the ultimate aim of creating
employment opportunities for the youth to reduce the incidence of poverty in the country and
raise the living standards of the people of Pakistan.

As per Rules of Business, 1973 functions of the Ministry of Commerce are as under:

1. Imports and exports across custom frontiers including

2. Inter-Provincial trade.

3. Commercial intelligence and statistics.

4. Organization and control of chambers and associations of commerce and industry.

5. Tariff (protection) policy and its implementation.

6. Law of insurance; regulation and control of insurance companies.

7. Export promotion.

8. Special Selection Board for selection of Commercial Officers for posting in Pakistan Missions
abroad.

Ministry of Finance

The Ministry of Finance and Revenue is a ministry of the Government of Pakistan tasked to

ensure a strong Pakistani economy by developing policies of sound economic management and
providing expert advice to the government. To provide the most effective and efficient services
to the federal government, provincial governments and the citizen of Pakistan is also its function.
Each head of a department is responsible for enforcing financial order and strict economy at
every step.