SECP revokes licences of another 100 NGOs
They also failed to apply for renewal of their licences within the specified time.
Securities and Exchange Commission of Pakistan (SECP) has revoked licences of another 100 NGOs, which were not complying with the corporate laws. A few months ago, the licences of 108 NGOs were cancelled for the same reason.
As many as 423 NGOs, which had completed five years of their existence, were required to apply for renewal of their licences by the deadline 16th of February this year.
Out of these NGOs, 108 were found to be in default in filing of annual returns and accounts.
They also failed to apply for renewal of their licences within the specified time. Therefore, the licences of these NGOs were revoked.
Now, in the second phase, the licences of 100 NGOs, which were partially compliant in filing their annual returns but have failed to apply for the renewal of licences, despite notices, have been revoked.