In a landmark move to align Pakistan’s corporate regulations with global standards, a high-level government panel has proposed sweeping amendments to the Companies Act 2017. The initiative, led by the Securities and Exchange Commission of Pakistan (SECP) and the Board of Investment (BOI), aims to modernize outdated provisions and foster a more business-friendly environment.
The proposals were unveiled during a regulatory reform meeting chaired by Haroon Akhtar Khan, Special Assistant to the Prime Minister on Industries and Production. Key recommendations include:
•     Removing member limits for private and public companies
•     Introducing flexible corporate structures
•     Eliminating restrictive clauses that hinder innovation and growth
“These reforms are long overdue,” said Haroon Akhtar Khan. “Excessive regulations and procedural delays continue to obstruct enterprise development. We must act swiftly to enable modern corporate frameworks.”
The session was attended by prominent stakeholders, including Scott Jacobs, representatives from SECP, BOI, and the State Bank of Pakistan (SBP). Officials expressed optimism that the reforms will enhance Pakistan’s global competitiveness and attract increased foreign investment.
The proposed amendments are expected to be finalized and submitted for approval in the coming months.