President Mamnoon Hussain has signed the Companies Act 2017 on Tuesday, marking the dawn of a new era that promises great opportunities for the corporate sector to thrive in a challenging global environment.
After thorough public consultation and legal vetting by the Ministry of Law and Justice, the bill was introduced in the National Assembly on November 18, 2016.
On February 6, the National Assembly passed the Companies Bill, 2017. Finally, the Senate approved it on May 15.
The level of stakeholder consultation by the Security Exchange Commission of Pakistan (SECP) during the drafting and approval stages was unprecedented in the history of company law in Pakistan, according to a statement issued here by the SECP.
