ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has directed the listed companies to electronically file their annual and quarterly financial statements.

In this regard, the SECP has issued circular 11 of 2023 for the listed companies.

Earlier, under circular number 24 of 2017, the listed companies were required to submit manually (hard copies) of their Annual and Quarterly Financial Statements. The said circular number 24 of 2017 has now been superseded.

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According to the SECP’s circular, the SECP, hereby, directs the listed companies to file annual and quarterly financial statements together with the reports as required to be submitted under the applicable provision of the Companies Act, 2017, through eService of SECP within the stipulated time under the Companies Act, 2017.

The said filing shall be considered as compliance of the provisions of Sub-section (7) of Section 223 and Sub-section (2) of Section 237 of the Companies Act, 2017 with respect to the dispatch/transmission of the financial statements to the Commission and Registrar.

The SECP has issued the said instructions in the exercise of the powers conferred under section 510 of the Companies Act, 2017 (the ’Act“) read with section 458A of the Act i.e. Measures for greater ease of doing business and in supersession of Circular 24 of 2017.

Copyright Business Recorder, 2023