SECP Takes Action Against 36 State-Owned Companies for Failure to Submit Returns and Financial Statements

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has taken enforcement action against 36 state-owned companies for failing to submit annual returns and financial statements.

According to an official statement, efforts are underway to improve accountability and governance in state-owned enterprises under the government’s reform agenda, ensuring compliance with corporate governance regulations.

The SECP stated that proceedings were completed on 58 show-cause notices issued to the companies. Out of these, penalties were imposed in 46 cases, while warning orders were issued in 12 cases.

Overall fines amounting to Rs3.175 million were imposed. In March 2026, 41 state-owned companies were issued 66 show-cause notices, out of which proceedings on 58 notices have been completed, while action on 8 notices is still ongoing.

The commission said that penalties ranged from a minimum of Rs25,000 for failure to file annual returns to Rs50,000 for not submitting both annual returns and financial statements. In cases of continued non-compliance, fines of up to Rs225,000 were imposed.

The SECP added that companies were given a fair opportunity to present their stance during the proceedings, and several state-owned entities subsequently submitted their pending annual returns after receiving notices.

A dedicated facilitation desk has also been established to assist companies with return filings. Copies of the show-cause decisions have been sent to the relevant Principal Accounting Officers and the Central Monitoring Unit.

The SECP reiterated that efforts are ongoing to ensure full compliance with the Companies Act and Corporate Governance Regulations.