ISLAMABAD: The sick industrial and loss-making units would be revived by exploring various avenues available under the Companies Act, 2017, the Corporate Rehabilitation Act, 2018, and the Corporate Restructuring Companies Act, 2016.
The Securities and Exchange Commission of Pakistan (SECP) conducted a comprehensive training session on mergers, amalgamations, and restructuring of companies for officials from the Privatization Commission of Pakistan and various State-Owned Enterprises (SOEs) at its Head Office in Islamabad.
Akif Saeed, Chairperson SECP, inaugurated the session and welcomed the participants. In his opening remarks, he underscored SECP’s pivotal role in sanctioning schemes of arrangement for SOEs. He highlighted the importance of strengthening the capacity of SOE officers in the areas of mergers and amalgamations, as these enterprises are undergoing a transformative phase.
The session was led by Waseem Ahmed Khan, Director Mergers and Restructuring Department, who delivered an in-depth presentation on SECP’s regulatory framework governing Schemes of Arrangement and the processes involved in mergers, amalgamations, and restructuring.
The training was attended by nearly fifty senior officials from twenty-four SOEs, including those from the Privatization Commission. It was a highly interactive session that addressed key compliance requirements and regulatory procedures commonly encountered by SOEs during the implementation of Schemes of Arrangement. The training provided valuable insights, enhanced institutional understanding, and encouraged a productive exchange of views among participants.
In his concluding remarks, SECP Commissioner Muzzafar Ahmed Mirza emphasized the importance of reviving sick industrial and loss-making units by exploring various avenues available under the Companies Act, 2017, the Corporate Rehabilitation Act, 2018, and the Corporate Restructuring Companies Act, 2016. The participants expressed keen interest in the alternative avenues for corporate restructuring available under these laws.
Copyright Business Recorder, 2025
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