Lahore: The Pakistan China Joint Chamber of Commerce and Industry (PCJCCI), in collaboration with the Securities and Exchange Commission of Pakistan (SECP), held a seminar on “Major Corporate Compliance Requirements and Companies Regularization Scheme 2024” at the PCJCCI Secretariat.

According to Pakistan China Joint Chamber of Commerce and Industry, the event featured discussions led by key SECP officials and PCJCCI leadership, focusing on new regulatory measures and the recently re-launched Companies Regularization Scheme (CRS). The seminar aimed to enhance understanding among entrepreneurs and businesses about the importance of adherence to corporate laws and the benefits of the regularization scheme.

Moazzam Ghurki, President of PCJCCI, emphasized the session’s role in providing vital information on the changing corporate compliance environment, which is crucial for ensuring transparency, accountability, and growth in business practices. Shahbaz Sarwar, SECP’s Lahore Registrar, outlined the goals of the session, detailing initiatives to ease business operations and promote compliance.

Additional Registrar Sidra Mansur elaborated on the CRS 2024, explaining that it offers a window from June 15 to September 15, 2024, for companies to file overdue statutory returns without additional penalties. This scheme is accessible to various types of companies, including non-listed public companies, private firms, and foreign entities, aiming to encourage them to update their records through simplified procedures.

During the seminar, Usman Saeed, Deputy Registrar of SECP, provided an in-depth presentation on the compliance requirements set out in the Companies Act, 2017, and associated regulations. The session concluded with acknowledgments from Hamza Khalid, Vice President of PCJCCI, and Salahuddin Hanif, Secretary-General, who expressed gratitude to the attendees and highlighted the seminar’s role in supporting young entrepreneurs and the broader business community in regulatory compliance.