Amendments in the Companies Regulations, 2020 Reform ID F155 Reform Description Before: Earlier, companies were required to seek Commission’s approval while issuing shares with different rights (under section 6(iv) of the regulations). Only preference shares were permitted to convert into ordinary shares (section 6 (ii)(g) of the Regulations). Mechanism for valuation of immovable property, intangible…
Amendments in Companies Act 2017 Reform ID F154 Reform Description Before: Earlier, the Companies Act, 2017 had complex regulatory requirements and was not up to date with the new business terms, such as the definition for “Startup company” was not defined. Companies were required to report subscription money to the registrar on a specified form…
Pakistan Authorized Economic Operator (AEO) Program Reform ID F153 Reform Description Before: For the security protection and facilitation a high level of compliance system was missing. After: AEO program is World Customs Organizations (WCO) flagship program this is administered by Customs authority to provide security and facilitation benefits to businesses that demonstrate a high level…
Pakistan single Window (PSW) Subscription in Just 15 Minutes Now Reform ID F152 Reform Description Before: Earlier, the traders had to submit Twenty-two (22) documents by visiting the office, physically. This usually took up to 15-20 days for the process to be completed. After: For PSW subscription now neither submission of hard copies of the…
A meeting of the Committee to analyze regional / provincial regulatory mapping was held on 19-05-2023 and attended by focal persons from all Regional / Provinces. Participants shared their data and experience regarding regulatory mapping and Government digital transformation to improve business climate. Participants agreed to work closely to remove inconsistencies and harmonize the data…