Govt drops member caps for companies
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MG News | August 12, 2025 at 10:00 AM GMT+05:00
August 12, 2025 (MLN): The Government is set to
overhaul the Companies Act 2017 by removing limits on the number of members in
private and public companies, introducing greater flexibility in corporate
forms, and eliminating unnecessary restrictions to align corporate laws with
international best practices.
The reforms were discussed at a high-level meeting of the
Sub-Committee on Regulatory Reforms, chaired by the Special Assistant to the
Prime Minister, Mr. Haroon Akhtar Khan, on Industries and Production, and
attended by representatives from the Board of Investment (BOI), the Securities
and Exchange Commission of Pakistan (SECP), the State Bank of Pakistan (SBP),
and regulatory expert Scott Jacobs.
The SECP and BOI jointly presented the recommendations and highlighted their potential to reduce excessive regulations, cut procedural
delays, and boost ease of doing business.
Mr. Khan urged swift drafting of the agreed changes, noting that outdated provisions in the current Act obstruct innovation in corporate structures.
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