SECP rejects report on registration of Turkish firm

This is with reference to the news item published on October 2, under the heading "Issues of Foreign companies, Turkish investors to be resolved", wherein the news reporter mentioned that a Turkish Company operating in Pakistan has shown concern on the procedure/delay on part of the SECP for its enlistment with the Commission. In this connection, it is clarified that no such application has been received from any Turkish Company by any regional office of the SECP for its registration or enlistment.
It may further be noted that the SECP has in place a very quick and an efficient process of registering companies under the Companies Ordinance, 1984, particularly the foreign companies. Any foreign company desirous of establishing the place of business in Pakistan is required to file certain documents as prescribed under Rule 22 read with Rule 23 of Companies (General Provisions & Forms) Rules, 1985, with the registrar of companies. After such filing, the scrutiny by the registrar takes 2-3 days before issuing the requisite certificate to that effect.-PR