Parliamentary Subcommittee Reviews Companies Act to Meet Global Standards

Islamabad: A meeting of the Parliamentary Subcommittee on Regulatory Reforms, chaired by Haroon Akhtar Khan, was held in Islamabad.

The session was attended by Scott Jacobs, members of the Board of Investment, and representatives from the State Bank of Pakistan.

During the meeting, proposals for amendments to the Companies Act 2017 were presented. The Securities and Exchange Commission of Pakistan (SECP) and the Board of Investment submitted a package of recommendations aimed at aligning the law with global standards.

Key proposals included removing the minimum and maximum limits on the number of members in private and public companies, as well as eliminating unnecessary restrictions to facilitate ease of doing business in corporate forms.

The committee emphasized that these reforms are intended to make corporate operations more efficient and investor-friendly. Haroon Akhtar Khan directed that a draft of the agreed recommendations be prepared soon for further review.