The Securities and Exchange Commission of Pakistan (SECP) has reported a sharp improvement in financial transparency, stating that 88 percent of unlisted but licensed companies are now publicly sharing their audited annual financial statements.

In a statement issued on February 18, 2026, the regulator said the disclosures are being made through the Pakistan Stock Exchange (PSX) Financial Portal for Unlisted Companies, in line with a mandatory directive introduced last year.

Under the directive, unlisted licensed entities were required to upload their audited financial statements on the PSX portal to ensure public access within stipulated timelines. Companies were also instructed to enter into formal arrangements with PSX to gain access to the disclosure platform.

The SECP said the initiative is aimed at strengthening transparency, raising disclosure standards, and improving corporate governance in sectors of public importance. Public availability of financial statements enables investors, stakeholders, and the wider public to better evaluate the financial position and performance of these entities.

As part of its oversight responsibilities, the SECP carried out a broad-based compliance campaign covering brokers, insurance companies, Non-Banking Finance Companies (NBFCs), Modarabas, and other licensed firms. The regulator said compliance levels have risen from minimal levels to 88 percent, reflecting the impact of the enforcement drive.

The commission added that regulatory action has also been initiated against companies that remain non-compliant, in accordance with applicable laws.

Reiterating its stance, the SECP said it will continue to adopt a strict regulatory approach to promote accountability, transparency, sound governance practices, and investor protection across Pakistan’s financial sector.