PID

PR No. 272 CHAIRMAN SECP PRESENTS A COPY OF COMPANIES BILL 2017 TO FINANCE MINISTER Islamabad

The Chairman SECP Mr. Zafar Hijazi presented a copy of the Companies Bill-2017 to Finance Minister, Senator Mohammad Ishaq Dar at the Ministry of Finance. The National Assembly passed the bill on Wednesday.

The Bill it may be mentioned was earlier passed by the National Assembly and was referred to Senate where it was passed with certain amendments. Thereafter the Bill was sent back to National Assembly where it has now been passed with the changes made by Senate.

The Companies Bill envisages to improve corporate governance in the country besides providing maximum facilitation to the sector and encouraging use of modern technology in line with international best practices.

Finance Minister lauded the hard work and efforts of the Chairman SECP and his team for the comprehensive consultations they had with different stake holders while formulating the bill. He said the new bill which replaces the old Companies Law of 1984 would go a long way in qualitative changes in the corporate sector.

The new Companies law will come into force after assent by the President.

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