Companies Act 2017: cabinet approves 170 amendments, government to scrap 70% of business rules
The bill is now with Parliament. Adviser Haroon Akhtar Khan says up to three quarters of duplicate regulations will go, with a single-window portal and one inspection regime to follow.
The federal cabinet has approved 170 amendments to the Companies Act, 2017, and the bill is now with Parliament, Haroon Akhtar Khan, the Prime Minister's adviser on industries and production, said at a press conference in Islamabad on Friday, Business Recorder reported. The government says it wants to strip out 70 to 75 percent of the regulations that businesses in Pakistan now have to deal with.
What the government says it is doing
- 170 amendments to the Companies Act, 2017, the law that governs how companies are registered with the SECP, run and wound up. The aim, Haroon Akhtar said, is to make company registration and day-to-day operations easier and bring the corporate rulebook up to date.
- 70 to 75 percent of unnecessary or duplicate regulations are to go, based on proposals from different institutions. About 60 to 70 percent of the review work is done, and the Prime Minister chairs a review meeting every two weeks.
- The review goes back over 78 years of laws and uses Delaware in the US, the UK and Canada as benchmarks, with an international consultant who has worked in 135 countries.
"Our objective is to make investment easier, reduce the cost of doing business," Haroon Akhtar said. "Businesses should be able to focus on production, innovation and expansion."
The individual amendments have not been published yet, so it is not yet clear which filings, fees or approvals will change.
More reforms in the pipeline
The adviser listed several other measures still in progress:
| Measure | Status |
|---|---|
| AsaanKarobar Act, a law to simplify procedures and cut compliance costs | proposed |
| One inspection framework, replacing overlapping labour, environment, fire, building and boiler inspections | being developed |
| Single-window portal for applications to federal, provincial and regulatory bodies | planned |
| Sector reviews: dairy, maritime, beverages, oil refineries, pharmaceuticals and restaurants | under way |
The reforms are being aligned with the provinces, Gilgit-Baltistan and Azad Jammu and Kashmir. The Chief Minister of Gilgit-Baltistan attended the press conference.
What it means if you run or plan a company
Nothing changes until Parliament passes the bill and the SECP issues the rules that follow. Until then, registration and annual filings work as before. If you are weighing a private limited company against working as a sole proprietor or freelancer, the tax side is unaffected by this bill: compare what you would pay with our income tax calculator and freelancer tax calculator, and see the sales tax calculator if you will be registered for sales tax.
We will publish the list of changes when the bill is tabled.
Frequently asked questions
- Has the Companies Act 2017 been amended?
- Not yet. The federal cabinet approved 170 amendments and sent the bill to Parliament in October 2026; the changes take effect only once Parliament passes it.
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