Karachi: The Securities and Exchange Commission of Pakistan (SECP) has issued a significant directive, marking a pivotal step towards transparency and accessibility within the financial sector. Through Directive No. 2 of 2025, the SECP has mandated that all unlisted licensed companies must upload their audited financial statements on a dedicated portal established by the Pakistan Stock Exchange Limited (PSX). This directive, dated February 21, 2025, aims to enhance public access to financial information and foster greater accountability among companies that are not publicly listed.
This initiative requires unlisted licensed companies to disseminate their financial information via the "Financial Portal for Unlisted Companies (FPUC)", a platform specifically developed by the PSX. According to the directive, companies must ensure that they have signed an agreement with PSX and created a USER ID for accessing the portal by the deadline of February 21, 2025. This step is crucial for allowing these companies to upload their latest audited financial statements, thereby making them accessible to the general public.
The directive further specifies that unlisted licensed companies are required to continue uploading their future audited financial statements on the FPUC. This process should align with the timelines outlined in the applicable laws governing the preparation and circulation of financial statements for unlisted entities. This requirement will remain in place until the company achieves listing status on the stock exchange.
According to information available from the Pakistan Stock Exchange (PSX), this development is part of a broader effort to streamline financial reporting practices and ensure that pertinent financial data is readily accessible to investors, analysts, and other stakeholders. The initiative underscores the growing emphasis on transparency and aims to build investor confidence by providing a clearer picture of the financial health of unlisted enterprises.
The SECP's directive can be accessed and downloaded from the official link provided, ensuring that all concerned parties have the necessary resources to comply with the new requirements. This move aligns with the SECP's ongoing commitment to modernizing financial regulatory frameworks and supporting market development.
By mandating the online submission of audited financial statements, the SECP hopes to create a more transparent and inclusive financial market environment, which is expected to contribute positively to the overall economic landscape of the country.