NGOs (SECP initiates action against 23 int’l NGOs)

July 12, 2015 Off By Web Desk

Islamabad: Securities and Exchange Commission of Pakistan (SECP) has initiated action against 23 international NGOs to strike them off the register of companies.

They have failed to file their audited accounts despite several notices and therefore are presumed to be dormant.

The SECP’s exercise to scrutinize the working and accounts of local NGOs has been extended to INGOs. In this regard, show-cause notices were issued to all INGOs that had not filed annual accounts and other overdue returns with the relevant registrars.

Out of the total 33 INGOs registered with the SECP as foreign companies, 23 were found delinquent.

The list of defaulting INGOs has already been shared with the Economic Affairs Division and the Ministry of Interior for information and necessary action.