08/05/2021 1

Securities and Exchange

Commission of Pakistan
Functions and Role 08/05/2021 2

 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

SECP Timeline 08/05/2021 3

• SECP Act Promulgated

1997
• Establishment of SECP
• Regulation of corporate entities and administration of the corporate laws
1999 • Regulation of the capital market

• Regulation of insurance sector

• Regulation of Non-Banking Financial Companies
2000

• Regulation of private pensions

2005

• Securities Act, 2015

2015
• Securities and Exchange Commission of Pakistan (Amendment) Act, 2016
• Futures Market Act, 2016
2016 • Corporate Restructuring Companies Act, 2016

• Limited Liability Partnership Act, 2017

• Companies Act, 2017
2017

• Corporate Rehabilitation Act 2018

2018
SECP Offices 08/05/2021 4

CRO Karachi CRO Lahore CRO Islamabad

CRO Faisalabad CRO Peshawar CRO Multan

CRO Quetta CRO Sukkur CRO Gilgit

Facilitation Centre,
Gwadar
Corporate Sector Growth 08/05/2021 5

Total No. of Companies

120,000

101,325
100,000
86,863
80,000 75,508
67,231
61,039
60,000

40,000

20,000

-
30-Jun-15 30-Jun-16 30-Jun-17 30-Jun-18 30-Jun-19
Sectoral Distribution 08/05/2021 6

No of companies
SECTOR
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
 08/05/2021 7

Starting a Business
Made Easy
 08/05/2021 8
Doing Business Report
2019

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:

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.
 08/05/2021 9

Major Reforms
Major Reforms 08/05/2021 10

 Company Incorporation procedure simplified

 Several Forms merged into one Form;

Old Forms Replaced By

Form 1 (Declaration of Applicant for Inc. Form-II (Application for

Incorporation) 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.)
Major Reforms 08/05/2021 11

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 08/05/2021 12

 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 08/05/2021 13

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.

Reduction in Cost 08/05/2021 14

Fee Schedule i.e. Seventh Schedule is available at SECP website.

One Window Facility for Company Registration 08/05/2021 15

Continued……..
SECP e-Services 08/05/2021 16
SECP e-Services 08/05/2021 17
SECP e-Services
08/05/2021 18
 08/05/2021 19

Impact of Reforms
Impact of Reforms 08/05/2021 20

Same day Company Incorporation %age 54%

Integration with FBR- effective from March 2018

NTN issued through SECP-FBR integrated system in 13,325

one year (March 2018-2019)

NTN issued in corresponding period last year (March 4,093

2017-2018)

Integration with Employees Old Age Benefits Institution (EOBI)-

effective from Jan 29, 2019

No. of Companies registered with EOBI as of Jun 30, 77

2019

Continued……..
Impact of Reforms 08/05/2021 21

Integration with Punjab Business Registration Portal -effective from

Dec 31, 2018

No. of Companies registered with Punjab Employees 33

Social Security Institution (PESSI) as of Jun 30, 2019

No. of Companies registered with Labor Department, 24

Punjab as of Jun 30, 2019

No. of Companies registered with Excise & Taxation 20

Department, Punjab as of Jun 30, 2019

Continued……..
Impact of Reforms 08/05/2021 22

Integration with Sindh Business Registration Portal –effective from

Feb 20, 2019

No. of Companies registered with Sindh Employees Social 15

Security Institution (SESSI) as of Jun 30, 2019

No. of Companies registered with Labor Department, Sindh as 10

of Jun 30, 2019

No. of Companies registered with Excise & Taxation 13

Department, Sindh as of Jun 30, 2019

Continued……..
 08/05/2021 23

Future Agenda
Future Agenda 08/05/2021 24

 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.