A case for re-writing Companies Ordinance, 1984

Accounting professionals in Pakistan believe that the Companies’ Ordinance, 1984 was promulgated by intentionally making the decades old Companies Act obsolete. This is about to happen again. It is high time that the lawyer-led SECP must think about the socio-economic impact of this important piece of legislation which is increasingly affecting the daily life of citizens of Pakistan. Professionals know that a number of factors are currently posing questions about the framework of this piece of legislation and its ability to serve the interests of business and stakeholders. Such factors includes the development of the single market and the opportunities which it has created for cross-border trade and share ownership,