SECP 2020-21 report: 51% increase in company registrations
- By Web Desk -
- May 21, 2022
The Securities and Exchange Commission of Pakistan (SECP) has issued its reports for the fiscal year 2020-21, ARY News reported.
According to the SECP report, several improvements and easements were made to encourage ease of business and the capital market.
A total of 22 fraud companies were shut down in the fiscal year 2022-21, while an amount of Rs5 billion was accumulated as fines for different violations.
The report added that fulfilling FATF’s recommendations and the formation of a regulatory framework for the real-estate sector led to better performance in the 2020-21 fiscal year.
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Moreover, three housing finance schemes, one microfinance company and two investment finance companies were registered in the fiscal year 2020-21.
The country’s first collateral management company, the addition of 10 IPOs on the stock exchange and four exchange-traded funds were also registered.
SECP added that account opening in the stock exchange and company registration were also digitalized in the same year. There was a 51% increase in company registration in 2020-21 with 25,533 companies registered.