SECP has launched a Licensing Facilitation Desk at its Head Office. This initiative is a key component of SECP’s broader commitment to regulatory facilitation, ease of doing business, and the development of Pakistan’s corporate and not-for-profit sectors.
The Licensing Facilitation Desk is designed to assist applicants seeking licenses under Section 42 of the Companies Act, 2017, which pertains to the establishment of not-for-profit associations. By offering hands-on guidance, the desk enables applicants to ensure their submissions are complete at the point of application, thereby significantly reducing processing delays. This face-to-face assistance aims to simplify complex regulatory procedures, remove common bottlenecks, and improve stakeholder engagement.
In tandem with the new facilitation desk, SECP has introduced a standardized email address to serve as the central point of contact for all correspondence and applications related to Section 42 licenses. This streamlined approach is expected to improve communication between the Commission and applicants, allowing for timely updates and more efficient resolution of queries. It also represents a shift towards greater transparency and responsiveness in the licensing process.
In a progressive step towards gender-inclusive governance, the SECP has mandated that all medium and large-sized Section 42 companies must appoint at least one female director on their Boards. This requirement will take effect from the next election of directors following the enactment of the Companies Regulations, 2024. Small-sized Section 42 companies are also encouraged to adopt this policy, reinforcing the Commission’s commitment to promoting diversity in corporate leadership structures. The move aligns with global best practices and highlights SECP’s role in encouraging socially responsible corporate behavior.
To further assist applicants, SECP has made a suite of comprehensive resources available on its official website. These include a detailed checklist of necessary documents and an in-depth guide on obtaining a license for associations established with charitable or not-for-profit objectives. These resources aim to demystify the application process and empower organizations with the knowledge needed to meet regulatory requirements effectively.
The establishment of the Licensing Facilitation Desk and the accompanying reforms reflect SECP’s strategic efforts to modernize its regulatory infrastructure, reduce red tape, and encourage the growth of a vibrant, transparent, and well-regulated not-for-profit sector in Pakistan. The Commission’s proactive approach underscores its ongoing mission to create an investor-friendly corporate environment that supports both commercial enterprises and public service organizations.
With these steps, SECP continues to demonstrate its commitment to institutional reforms that balance regulatory oversight with stakeholder facilitation. The introduction of structured communication channels, on-ground support for license applicants, and emphasis on inclusive governance sets a benchmark for regulatory bodies seeking to support sustainable growth and development within their jurisdictions.
