Ban Unregistered Partnership

Government of Pakistan has taken several measures to move towards documented economy while partnership is one of the major stakeholder in different forms of business in Pakistan. Currently there are three options to do partnership business legally in Pakistan.

1. Un-Registered Partnership
2. Registered Partnership with registrar of firms
3. Limited Liability Partnership

After LLP which was introduced by SECP in last year, there are two options available for businessmen even ban on un-registered partnership which is least secure as compare to other two form of partnership.

Why it should be ban in Pakistan?

One of the key reason for arguing this is that there is no institution involved in between the partners while establishing a partnership firm. Which cause many issues after passage of time. E.g. Fake Deeds, Unsecured Firm Names, Insolvency and many more.

This will also generate revenue for the Government institution in form of registration fees.