Chairman SECP presents copy of Companies Bill 2017 to Finance Minister

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APP118-24 ISLAMABAD: May 24 - Chairman SECP Zafar Hijazi presenting a copy of new companies bill to Finance Minister, Senator Mohammad Ishaq Dar. APP

ISLAMABAD, May 24 (APP): The Chairman Securities and Exchange
Commission of Pakistan (SECP) Zafar Hijazi presented a copy of the
Companies Bill-2017 to Minister for Finance Senator Mohammad Ishaq
Dar.
The National Assembly passed the bill on Wednesday which was earlier referred to Senate after its passage from the Lower House.
The Senate passed it with certain amendments following which the Bill was sent back to National Assembly where it has now been passed
with the changes made by Senate.
The Companies Bill envisages to improve corporate governance in the country besides providing maximum facilitation to the sector and encouraging use of modern technology in line with international
best practices.
Finance Minister lauded the hard work and efforts of the Chairman SECP and his team for the comprehensive consultations they had with different stakeholders while formulating the bill.
He said the new bill which replaces the old Companies Law of 1984 would go a long way in qualitative changes in the corporate sector.
The new Companies law will come into force after assent by the
President.