The Securities and Exchange Commission of Pakistan (SECP) has issued a list of 20,566 inactive companies in order to update the registration data of companies that are no longer in operation.
For inactive companies, the SECP has issued names, registration numbers, cities, incorporation dates/registration dates, and the relevant SECP regional offices.
The updated list includes information on inactive companies (up to July 1, 2022) compiled by the SECP in February 2023.
According to the list, the SECP has designated 20,566 companies as inactive in order to remove inactive companies from its records.
According to SECP data, the number of incorporations has nearly doubled in the last two years. This expansion has occurred despite the fact that inactive companies have been removed from its books in order to streamline the operation of registered companies.
The removal of companies from the SECP’s records would have an effect on the overall numbers of corporate registration data, but these inactive companies were not required to be included in the SECP’s database of active companies.
Furthermore, many inactive companies that requested de-registration or delisting were granted after complying with the relevant rules and regulations.