SECP seminar about its recent facilitative measures

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ISLAMABAD, Oct 28 (APP): Securities and Exchange Commission of Pakistan on Friday organized a seminar in Karachi in collaboration with
the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) to create awareness about its various facilitative reform measures to improve the regulatory framework and doing business
environment for the robust corporate growth in the country.
A statement of the Commission issued here said that the measures include same day online incorporation, fast company incorporation within a shortest span of time of two hours under FTRS (subject to adoption of short memorandum of association), reduced company
incorporation fee of only Rs 2000 under offline mode and Rs 1,000 under online mode, online payment of fee through online funds transfer and credit cards, online submission of application for obtaining digital signatures from NIFT, free of charge certified copies, expanding the SECP’s outreach through the establishment of CRO in Gilgit and facilitation counters in Sialkot, Gwadar and Abbottabad apart from existing 8 CROs.
In spite of aforesaid measures, the promoters generally do not apply to the SECP directly for companies’ incorporation, increasing time and cost of doing business. The SECP has enabled a regime, which facilitates the promoters in forming a company without the help of any third party and complete assistance is being provided by the SECP’s facilitation officers.
It is needed to promote an environment where direct interaction of stakeholders with the SECP prevails.
The need is to join hands for mutual cooperation and assistance for the growth of the corporate sector and to reduce the cost of doing business in the country.