ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) deleted more than 3,000 inactive companies from its books between December 2018 to December 2021 to streamline the working of registered companies, the regulator said on Tuesday.

Responding to a query posted by the Ministry of Finance, the SECP said the number of incorporations increased significantly in the past three years.

“There were 95,621 registered companies in Pakistan by December 2018, which reached 158,537 at the end of December 2021, indicating a growth of 67 per cent,” the regulator said.

“This is the first time the SECP removed such a significant number of inactive companies from its register,” the commission said.

The number of registered companies is on the rise following the ease of doing business introduced by the SECP. This also gives flexibility to the regulator to strike-off inactive companies from its books, the commission maintained.

The SECP said the government’s pro-real estate policies gave impetus for newer businesses to start and expand. The policies geared towards improving ease of doing business and investor confidence also proved beneficial for the corporate industry, it added.

Published in Dawn, March 23rd, 2022