Securities and Exchange Commission of Pakistan (SECP) has granted licence to register Pakistan-Poland Business Forum as a public company under Companies Ordinance 1984 with the primary objective to promote and strengthen business, trade and socio-cultural relations between the two countries, it was learnt on Friday.
The SECP has granted permission to register the forum as a public company limited by guarantee not having share capital.
The primary objectives of this forum as envisaged in the licence say that company would encourage and promote business, mutual understanding and friendly relations between the industrial and business communities of Pakistan and Poland.
It would further promote traditional, commercial and reciprocal relationship between Pakistan and Poland and other objects mentioned in memorandum of association of the company and it intends to a) apply its profits and income toward those objects and b) prohibit the payment of any dividend or profit to its members.
However, it is explicitly expressed that the company shall not itself set up or otherwise engage in industrial and commercial activities or in any manner function as a trade organisation.
Chairman of the Pak-Poland Business Forum Fazal Karim Dadabhoy has said that the forum would explore all avenues to encourage Pakistani business community to take advantage of Polish technology in mining, communication, oil and gas development, power generation and agricultural activities.