SECP Urges Builders and Developers to Register as Formal Companies

The Securities and Exchange Commission of Pakistan (SECP) has urged members of the Association of Builders and Developers (ABAD) to register their businesses as formal companies, according to a briefing held recently. SECP Commissioner Muzaffar Ahmed Mirza addressed the ABAD office bearers, emphasizing the advantages of corporate reforms and company registration, such as enhanced access to financing.

During the session, SECP officials demonstrated the eZfile portal, a digital platform that streamlines the company registration process for businesses. ABAD members are considering converting their enterprises into formally registered companies and exploring the registration of Real Estate Investment Trusts. The SECP believes that company registration can bolster businesses' financial capabilities and reinforce their corporate structure. ABAD has also pledged to submit sector-specific proposals to the SECP for review.