ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) granted licences to fifteen not-for-profit associations under Section 42 of the Companies Ordinance, 1984, from April to June, 2011 as compared to ten licences issued in the corresponding period of the previous year. Sector-wise division reveals that the licences were granted to five associations in the education sector, three each in the social services sector and the healthcare sector, two in the commerce sector and one each in the charity and sports sectors. In the education sector, Pakturk Education Foundation (having both Turkish and Pakistan nationals as its promoters), Let’s Serve Humanity, Darmaan Welfare Foundation, Teach for Pakistan, and Aman Institute for Vocational Training have been formed to establish educational institutions and centres, with the permission of the competent authority, but not to act as degree awarding institutes. Associations in the social services sector include Farz Founda
Online Newspaper