Pakistan's Securities and Exchange Commission, the SECP, fined 36 state-owned enterprises a combined total of Rs3.175 million after finding instances of non-compliance and breaches of governance requirements.
ENFORCEMENT ACTION AND DETAILS
The regulator announced penalties against 36 state-owned entities after issuing 66 show-cause notices to 41 state-owned enterprises in March 2026. The SECP imposed monetary sanctions amounting to Rs3.175 million in aggregate.
The violations included failures to submit annual audited financial statements and annual returns within prescribed timelines, non-compliance with disclosure requirements and breaches of the Corporate Governance Regulations.
The penalties were imposed through 46 adjudication orders following show-cause notices issued in March 2026, and warning orders were issued in 12 further cases. Individual penalties ranged from Rs25,000 for filing failures to Rs225,000 for repeated non-compliance. Proceedings were finalised in 58 of the 66 cases, with eight still pending.
COMPLIANCE SUPPORT
Several SOEs regularised their compliance by filing outstanding annual returns after receiving the notices, the SECP said.
The SECP also said it had set up a dedicated help desk to assist state-owned enterprises with annual returns and other statutory filings.
Copies of the orders were shared with the relevant oversight authorities for follow-up, and the commission advised all SOEs to strengthen their internal compliance systems.