Regulator concludes enforcement proceedings against 36 SOEs, issues 46 adjudication orders and warns non-compliant entities to improve governance standards.
The Securities and Exchange Commission of Pakistan (SECP) has imposed penalties totaling Rs3.18 million on state-owned enterprises (SOEs) for failing to comply with statutory reporting and corporate governance requirements, the regulator said on Saturday.
According to an official statement, the SECP concluded enforcement proceedings against 36 SOEs through 46 adjudication orders, while warning orders were issued in 12 cases.
The regulator said it had served 66 show-cause notices to 41 state-owned enterprises in March 2026 after identifying violations that included failure to file annual audited financial statements and annual returns within prescribed deadlines, non-compliance with disclosure requirements, and breaches of corporate governance regulations.
The SECP stated that proceedings have so far been completed in 58 cases as part of broader efforts to improve transparency, accountability and governance standards across the public sector.
Under the enforcement framework, penalties ranged from Rs25,000 for failure to submit annual returns to Rs50,000 for entities that failed to file both annual returns and audited financial statements. The highest fine imposed was Rs225,000 in cases involving repeated violations of statutory filing requirements.
Overall, the regulator imposed penalties amounting to Rs3.175 million.
The SECP said all enforcement actions were carried out in accordance with due process, with the concerned enterprises being provided opportunities to respond to the allegations and present their positions during hearings.
According to the regulator, several companies regularised their compliance status by submitting outstanding annual returns after receiving the show-cause notices.
To facilitate compliance, the commission established a dedicated help desk to assist SOEs with the filing of annual returns and other statutory documents.
The regulator added that copies of the adjudication orders had been shared with the relevant Principal Accounting Officers and the Central Monitoring Unit for information and follow-up action.
The SECP urged state-owned enterprises to strengthen internal compliance mechanisms, ensure timely fulfilment of statutory obligations and enhance governance practices to avoid future enforcement measures.
