The Securities and Exchange Commission of Pakistan (SECP) has announced a regularization scheme in a bid to address the issue of defaulting companies failing to file returns for extended periods. Effective from June 15, 2024, to September 15, 2024, the scheme allows defaulting companies to rectify their status by filing overdue annual returns, documents, and accounts. However, to avail of this opportunity, companies are required to pay the requisite filing fee. The initiative aims to streamline corporate compliance and encourage timely submission of financial records, ensuring transparency and accountability within the business sector.

Credit: Independent News Pakistan