Which type of companies require prior permission from ministries/departments?

Prior approval of the Ministries/Departments etc. is required to be obtained before incorporation of the following type of companies: –
(a) A banking company requires permission from
I. Ministry of Finance.
II. State Bank of Pakistan.

(b) A non-banking finance company (NBFC) requires approval from
Securities and Exchange Commission of Pakistan,

(c) A security service providing company requires prior approval from Interior Division,

(d) A corporate brokerage house requires approval from Stock Exchange (for transfer of member ship card in favour of proposed company),

(e) A money exchange company requires approval from State Bank of Pakistan,

(f) An Association not for profit u/s 42 of the Ordinance requires a Licence from Securities and Exchange Commission of Pakistan,

(g) A trade organization u/s 42 of the Companies Ordinance, 1984 requires
Licence from Ministry of Commerce.

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