The Institute of Corporate Secretaries of Pakistan was constituted to develop and regulate the profession of company secretaries in Pakistan. In early 1974 a number of prominent professionals stressed the need of forming an Institute for the profession of company secretaries. The Institute was formed under the Companies Act, 1913 as a company Limited by Guarantee. Since then, the Institute of Corporate Secretaries of Pakistan is functioning regularly for the professing of company secretaries. At present the Institute of Corporate Secretaries of Pakistan has about 700 associate members and more than 250 fellow members. The affairs of the Institute of Corporate Secretaries of Pakistan are managed professionally by a National Council. The Corporate Law Authority (now Securities & Exchange Commission of Pakistan) has felt the importance of the profession of company secretaries to create a corporate culture in the country. As a matter of fact a good corporate culture can be develop only through institutions not by the enforcement of corporate law. Therefore it is principally decided by the Securities & Exchange Commission of Pakistan to convert the Institute of Corporate Secretaries of Pakistan in a statutory body. It is expected that it will be enforced in near future. The Institute has its main office at Karachi. Institute of Corporate Secretaries of Pakistan (ICSP) was incorporated on November 22, 1973 as a company limited by guarantee, under the then Companies Act 1913 – later substituted by the Companies Ordinance, 1984. ICSP is the professional body of corporate secretaries which is imparting professional education and prudence in the areas of secretarial practices, corporate governance, corporate and business laws, accounting, administration, management, human resource and business ethics. Corporate secretaries have caliber to chart a course of action or take decisions in accordance with regulations, legislations, precedents, traditions, best practices and to see the operation moving effectively/efficiently.
