AIRLINK 177.45 Decreased By ▼ -2.91 (-1.61%)
BOP 11.11 Decreased By ▼ -0.06 (-0.54%)
CNERGY 8.51 Decreased By ▼ -0.02 (-0.23%)
CPHL 96.24 Decreased By ▼ -4.17 (-4.15%)
FCCL 44.98 Decreased By ▼ -0.98 (-2.13%)
FFL 15.91 Increased By ▲ 0.10 (0.63%)
FLYNG 27.91 Increased By ▲ 0.02 (0.07%)
HUBC 141.88 Decreased By ▼ -0.59 (-0.41%)
HUMNL 12.99 Decreased By ▼ -0.02 (-0.15%)
KEL 4.43 Decreased By ▼ -0.09 (-1.99%)
KOSM 5.87 Increased By ▲ 0.03 (0.51%)
MLCF 60.76 Decreased By ▼ -1.14 (-1.84%)
OGDC 211.70 Decreased By ▼ -2.62 (-1.22%)
PACE 5.76 Decreased By ▼ -0.16 (-2.7%)
PAEL 46.49 Decreased By ▼ -0.34 (-0.73%)
PIAHCLA 17.53 Decreased By ▼ -0.31 (-1.74%)
PIBTL 10.49 Decreased By ▼ -0.13 (-1.22%)
POWER 11.84 Decreased By ▼ -0.33 (-2.71%)
PPL 169.68 Decreased By ▼ -3.03 (-1.75%)
PRL 34.51 Decreased By ▼ -1.51 (-4.19%)
PTC 22.62 Decreased By ▼ -0.64 (-2.75%)
SEARL 94.01 Decreased By ▼ -2.05 (-2.13%)
SSGC 39.77 Decreased By ▼ -1.57 (-3.8%)
SYM 14.18 Decreased By ▼ -0.26 (-1.8%)
TELE 7.32 Decreased By ▼ -0.06 (-0.81%)
TPLP 10.02 Decreased By ▼ -0.06 (-0.6%)
TRG 65.96 Decreased By ▼ -1.94 (-2.86%)
WAVESAPP 10.32 Increased By ▲ 0.32 (3.2%)
WTL 1.32 Decreased By ▼ -0.02 (-1.49%)
YOUW 3.80 Decreased By ▼ -0.01 (-0.26%)
AIRLINK 177.45 Decreased By ▼ -2.91 (-1.61%)
BOP 11.11 Decreased By ▼ -0.06 (-0.54%)
CNERGY 8.51 Decreased By ▼ -0.02 (-0.23%)
CPHL 96.24 Decreased By ▼ -4.17 (-4.15%)
FCCL 44.98 Decreased By ▼ -0.98 (-2.13%)
FFL 15.91 Increased By ▲ 0.10 (0.63%)
FLYNG 27.91 Increased By ▲ 0.02 (0.07%)
HUBC 141.88 Decreased By ▼ -0.59 (-0.41%)
HUMNL 12.99 Decreased By ▼ -0.02 (-0.15%)
KEL 4.43 Decreased By ▼ -0.09 (-1.99%)
KOSM 5.87 Increased By ▲ 0.03 (0.51%)
MLCF 60.76 Decreased By ▼ -1.14 (-1.84%)
OGDC 211.70 Decreased By ▼ -2.62 (-1.22%)
PACE 5.76 Decreased By ▼ -0.16 (-2.7%)
PAEL 46.49 Decreased By ▼ -0.34 (-0.73%)
PIAHCLA 17.53 Decreased By ▼ -0.31 (-1.74%)
PIBTL 10.49 Decreased By ▼ -0.13 (-1.22%)
POWER 11.84 Decreased By ▼ -0.33 (-2.71%)
PPL 169.68 Decreased By ▼ -3.03 (-1.75%)
PRL 34.51 Decreased By ▼ -1.51 (-4.19%)
PTC 22.62 Decreased By ▼ -0.64 (-2.75%)
SEARL 94.01 Decreased By ▼ -2.05 (-2.13%)
SSGC 39.77 Decreased By ▼ -1.57 (-3.8%)
SYM 14.18 Decreased By ▼ -0.26 (-1.8%)
TELE 7.32 Decreased By ▼ -0.06 (-0.81%)
TPLP 10.02 Decreased By ▼ -0.06 (-0.6%)
TRG 65.96 Decreased By ▼ -1.94 (-2.86%)
WAVESAPP 10.32 Increased By ▲ 0.32 (3.2%)
WTL 1.32 Decreased By ▼ -0.02 (-1.49%)
YOUW 3.80 Decreased By ▼ -0.01 (-0.26%)
BR100 12,356 Decreased By -124.5 (-1%)
BR30 37,420 Decreased By -588 (-1.55%)
KSE100 116,020 Decreased By -755.4 (-0.65%)
KSE30 35,606 Decreased By -242.8 (-0.68%)

KARACHI: The government has reportedly started rejecting the security clearance of foreign investors. The Pakistan Tax Bar Association (PTBA) raised the issue in a letter sent to Federal Minister for Interior, Syed Mohsin Raza Naqvi, showing serious concerns about the security clearance process for foreign investors.

Under the Companies Regulations, 2024, every foreign subscriber and director is required to seek security clearance by filing GR-Performa, undertaking, and other required documents through the SECP with the Ministry of Interior.

After the incorporation, companies start their investments and setting up of their premises and factories to commence their business operational activity in Pakistan, the letter said.

Tax on foreign property income: PTBA for larger bench to address ‘conflicting rulings’

However, companies are now receiving unilateral rejection letters from the SECP, informing them that the security clearance for their foreign subscribers and directors was rejected.

“These letters neither specify the reasons for such rejection nor any opportunity of hearing to explain the defects/discrepancy if any,” PTBA said.

“These letters are sending a negative message to foreign investors who invest in Pakistan and now they are informed that they are not security cleared, putting their entire business set up in Pakistan at risk, which is against the government’s efforts to attract foreign investors in Pakistan,” it added. Furthermore, PTBA urged Mohsin Naqvi to address the issue on an immediate basis to avoid tarnishing the government’s efforts to attract foreign investments in the country.

Copyright Business Recorder, 2025

Comments

Comments are closed.