SECP Delists 303 NPOs in Pakistan

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SECP Delists 303 Nonprofit Organizations in Pakistan including Major Ones!

Eminent Pakistani newspaper ‘DAWN’ reports that the Securities and Exchange Commission of Pakistan’ (SECP) has delisted 303 nonprofit organizations (NPOs) from all over the country. In a sensational news report that gripped the attention of the nonprofit sector, it was reported that the delisting process was routine in nature and carried out over a period of several months.

The prominent delisted NPOs include; the Aga Khan University Hospital, BRAC Pakistan, Saba Orphanage Foundation, Safi Qureishi Foundation, Roots Education Foundation, Buksh Foundation and many others. According to the newspaper, SECP officials say that there are many reasons for winding up of NPOs as the managements of many entities even decide to become a commercial company — that is for profit or some merge their operations with another NGO or NPO and close one organisation.

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