ISLAMABAD: In accordance with the Securities and Exchange Commission of Pakistan's (SECP) directive, 88% of unlisted licensed companies are now publicly disclosing their annual audited financial statements via the Pakistan Stock Exchange's (PSX) Financial Portal for Unlisted Companies (FPUC). This move marks a significant increase in transparency within the sector.

According to Securities and Exchange Commission of Pakistan, the directive issued in January of the previous year required all unlisted licensed companies to upload and publicly disseminate their audited financial statements on the dedicated PSX portal. This measure also mandated companies to sign an agreement with PSX to gain access to the FPUC and ensure disclosures were made within prescribed deadlines.

The initiative aims to enhance transparency, improve disclosure standards, and strengthen governance among entities operating in areas of significant public interest. The public availability of these financial statements allows investors and stakeholders to better evaluate the performance and financial health of these companies.

To oversee compliance, SECP embarked on a comprehensive sector-wide compliance drive involving brokers, insurance companies, Non-Banking Finance Companies (NBFCs), Modarabas, and other licensed entities. Compliance has surged from minimal levels to 88% of companies now publishing their audited financials through the portal. Stakeholders can access these financial statements at the provided portal link.

In addition, SECP has begun supervisory actions under the relevant legal framework against the remaining non-compliant entities. The Commission remains committed to promoting transparency, accountability, good governance, and investor protection across Pakistan's financial services sector.