SIFC, SECP to Revise Venture Capital Bill

The Special Investment Facilitation Council (SIFC) and Securities and Exchange Commission of Pakistan (SECP) have been instructed to revise the draft Venture Capital Bill following a consultation with private-sector representatives. This decision was made during the 16th meeting of the Cabinet Committee on Regulatory Reforms (CCoRR), which reviewed regulations affecting Pakistan’s venture capital industry.

Key issues identified by the committee include uncertainty surrounding licensing requirements, high taxation, difficulties in transferring foreign investors' funds out of the country, and double taxation at both the venture capital fund and investor levels. The committee has directed SIFC and SECP to jointly review the proposed legislation, consult relevant industry stakeholders, and incorporate the feedback before finalizing the revised draft.

The updated bill will be presented at the committee’s subsequent meeting for further consideration. Additionally, the committee assessed the progress on seven approved regulatory reform packages and directed SIFC to ensure that pending reforms are implemented within the specified timelines.