SECP Issues New Procedure for Approval of CapEx
The Securities and Exchange Commission of Pakistan (SECP) has published a new method for the board of businesses’ approval of capital expenditures and asset sales.
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A public interest firm and a large-sized company are required to spend more than Rs. 25 million on a single item of capital expenditure.
The book value for the sale of a fixed asset must be greater than Rs. 5 million or 1% of the company’s total assets, whichever is less.
For medium-sized and small-sized businesses, the amount of capital expenditures that must be made on any one item must be greater than five million rupees, and the book value required to dispose of a fixed asset must be greater than one million rupees or one percent of the company’s total assets, whichever is less.
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With the caveat that any major expenditure on land or a building, regardless of the cost, or the disposal of either, may only be done with the board’s permission.
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