President signs Companies Act, 2017
New law to facilitate growth of economy in general, corporate sector in particular
President Mamnoon Hussain signed the Companies Act, 2017 in Islamabad on Tuesday.
The new law will facilitate the growth of economy in general and the corporate sector in particular by providing simplified procedures for ease of starting and doing businesses, greater protection of investors.
It will give a boost to corporatization in the country. It will also provide a simpler and softer regime for small companies, enable e-governance, augment standards of transparency and quality of information, and ensure better corporate governance.
The enactment of the Companies Act, 2017, is one of the most significant legal reforms in the country. It is aimed at bringing the company law on a par with global standards.