SECP receives positive response of amnesty schemes

The Securities and Exchange Commission of Pakistan (SECP) has received a positive response to the second phase of the Companies Regularization Scheme (CRS) and Companies Easy Exit Scheme (CEES).

A statement issued by the Commission here said that by the end of the second phase on August 31, 916 companies availed themselves of the CRS and filed 3,306 returns.

Similarly, 907 companies applied under the CEES. Both schemes were simultaneously launched for three months on July 1, in three phases of one month each and final phase of the schemes is presently in progress.

Inactive companies are advised to benefit from the opportunity during September; by either regularizing themselves through filing of their overdue returns under the CRS or strike their companies off the register under the CEES.

After the closing of the schemes, a strict action shall be taken against defaulters.