SECP freezes bank accounts of 39,704 inactive companies
SECP marked 39,704 firms inactive for skipping filings for four years; their bank accounts stay frozen until they comply.
The Securities and Exchange Commission of Pakistan (SECP), the companies regulator, has marked 39,704 firms inactive for missing annual returns and financial accounts for four years.
New bank accounts cannot be opened for these firms, and existing accounts remain frozen until outstanding filings are completed.
Inactive companies cannot use financial services, and director changes will not be registered while the status lasts.
Lahore (13,927) and Islamabad (13,859) account for the largest shares; Karachi has 4,868 inactive firms.
SECP Chairman Dr Kabir Sidhu said separating inactive companies helps protect the financial system and that firms can regain active status by meeting legal requirements.