Security and Exchange Commission of Pakistan has taken the major initiative, which can help to promote the business activities and boost the corporations in the country. SECP stated that they have started the operations in three of the big offices, which are located in Karachi, Lahore and Islamabad and the new companies can be incorporated with SECP in a day. The press release showed the statement of SECP.
The company registration offices are established and the incorporation and facilitation desks have been established in these offices, which can ensure the facilitation to the investors and the companies can be incorporated within a day. The companies will be registered with single object and they are allowed to reduce the time taken to start this business and it will provide easiness to the process of the incorporation.
The SECP has swift mode of registration like the further promote of corporation of the business sector and there are number of other things, which started working by SECP to give the benefit to the new and existing business and they are added with:
- Measures, which helped reduce the registration fee for small companies,
- Reduction in the filing fee for companies with a small capital base,
- Waiving of the name availability fee,
- Merging the name availability,
- Incorporation process to further reduce the time taken for registration.
The people can use the option of online payment after making this process easier with the introduction of option to pay fee online through the use of credit cards. The online fund transfer facility was introduced and it can enable the online issuance of the digital signatures.
The reforms are being introduced for the improvement of the starting of the business and do the business rankings annually with the publication of the World Bank to provide the comparative analysis of carrying out the business reform activity across the world. This process also ensures the documentation of the economy.
They also set up the registration office in Gilgit Baltistan and in the capital market hub in Abbottabad and they are also going to establish the facilitation center in Sialkot to expand their growth with the physical availability across the country.