Pakistan’s Securities and Exchange Commission (SECP) has introduced special facilitation measures to accelerate the conversion of steel sector Associations of Persons (AOPs) into registered companies following changes introduced under the Finance Act, 2026.
The initiative comes after amendments to the Income Tax Ordinance, 2001, which require steel businesses to incorporate as companies to qualify for preferential tax treatment. Unincorporated entities, including AOPs, will face a higher tax burden than SECP-registered companies under the revised tax regime.
To support the transition, SECP Chairman Dr. Kabir Ahmed Sidhu, on the directives of Minister of State for Finance, has established a dedicated facilitation desk to assist steel companies and expedite incorporation applications.
The move follows a request from the Pakistan Association of Large Steel Producers (PALSP), which sought regulatory support to facilitate the conversion of steel sector AOPs into corporate entities.
SECP said the incorporation process is fully digital, comprising user registration, company name reservation, submission of a digitally signed application and payment of the prescribed fee. Subject to complete documentation, company registration can be completed within four hours.