SECP declares 39,704 companies inactive, bars new bank accounts
The SECP has declared 39,704 companies "Inactive by Registrar" for not filing annual returns or financial statements for four years. They cannot open new bank accounts until they file overdue documents.
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- 39,704 companies marked "Inactive by Registrar" on Saturday
- Inactive companies cannot open new bank accounts or register director changes
- Lahore and Islamabad have the most, at 13,927 and 13,859
- Companies can regain active status by filing overdue documents
The Securities and Exchange Commission of Pakistan (SECP) on Saturday declared 39,704 companies "Inactive by Registrar" because they had not filed annual returns and/or financial statements for four years.
The SECP said the step would make the corporate register more reliable and help prevent dormant companies from being misused. The inactive status will be visible in the system to banks and other stakeholders.
Under the new status, inactive companies cannot open new bank accounts until they file their overdue documents and regain active status. They are also barred from accessing financial services and from registering changes in their directors. Daily Pakistan reported that existing bank accounts of these companies have been frozen until the filings are completed.
By location, the companies are spread as follows: 13,927 in Lahore, 13,859 in Islamabad, 4,868 in Karachi, 2,031 in Peshawar, 1,861 in Multan, 1,384 in Faisalabad, 1,102 in Gilgit and 436 in Quetta. TechJuice put the figure for Sukkur at 236, while Daily Pakistan gave 228.
The SECP noted that filing annual returns and, where required, financial statements is a legal requirement under the Companies Act, 2017. It said prolonged non-filing weakens the corporate register and can hinder efforts to prevent money laundering and terrorist financing.
SECP Chairman Dr Kabir Ahmed Sidhu said: "a clean and credible registry is the bedrock of trust in the corporate sector".
According to TechJuice, Pakistan had 317,002 registered companies at the end of September 2026. In the previous financial year 43,559 new companies were registered, 24 percent more than a year earlier, and 99.9 percent of new companies were registered online.
Why it matters
Companies in Pakistan that have not filed returns for four years now face limits on banking and on changing directors until they file. The step affects businesses, especially in Lahore and Islamabad, and the banks that deal with them.
