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Disposal of Assets by Companies and CapEx approvals: SECP Issued New Procedure

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Disposal of Assets by Companies and CapEx approvals: SECP Issued New Procedure

The SECP (Securities and Exchange Commission of Pakistan) has issued a new procedure for approval of capital expenditures and disposal of assets by Companies.
An S.R.O.449 (I)/2021 issued here on Friday by SECP to issue draft amendments to the Companies (General Provisions and Forms) Regulations, 2018.
In the case of a Public Interest Company or large company, the amount of capital expenditure to be incurred on any single item shall be more than Rs. 25 million. The book value for the fixed assets shall be more than 5 million.

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