ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) and the Cannabis Control and Regulatory Authority (CCRA) have jointly developed a regulatory framework to oversee the operations of companies in the medicinal and industrial cannabis sector in Pakistan. This framework requires companies to secure a No Objection Certificate (NOC) from the CCRA before incorporating cannabis-related business activities into their official documents.

According to Securities and Exchange Commission of Pakistan, the framework was formalized through a Memorandum of Understanding signed by SECP Commissioner Muzzafar Ahmed Mirza and CCRA Director Asif Haroon. The signing was attended by senior officials, including SECP Chairman Dr. Kabir Ahmed Sidhu and CCRA Director General Major General (Retd.) Zafarullah Khan.

Under this framework, companies can reserve their proposed name with the SECP but must obtain an NOC from the CCRA to proceed with incorporation if they intend to engage in cannabis-related activities. The NOC requirement extends beyond incorporation to any changes in business objectives, directors, or shareholding.

Dr. Kabir Ahmed Sidhu noted that the framework provides a regulatory path for companies in the sector while aligning incorporation with CCRA’s requirements. SECP will handle corporate registration and compliance, while CCRA will focus on licensing and regulatory aspects specific to the cannabis sector.