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ISLAMABAD, Aug 28 (APP):The Securities and Exchange Commission of Pakistan (SECP) on Thursday initiated strategic collaborations with various stakeholders to formalization and inclusive development.
The collaboration includes government ministries, regulatory authorities, the State Bank of Pakistan (SBP), land authorities, electricity distribution companies, chambers of commerce, SMEDA, and digital banking platforms such as Easypaisa and JazzCash, said a news release.
Formal communications have been issued to these entities to foster a more conducive environment for business incorporation.
SECP continues to play a pivotal role in advancing Pakistan’s corporate sector by streamlining business registration processes and actively promoting corporatization as a key driver of sustainable economic growth, it added.
These collaborations aim to promote the growth of the formal sector by encouraging partner organizations to prioritize engagements with companies registered with the SECP.
The initiative also emphasizes the immense benefits of corporatization, which include limited liability protection, enhanced credibility, greater scalability, improved access to capital, perpetual succession, strengthened governance, tax efficiencies, simplified ownership transfer, and stronger brand protection.
Furthermore, companies operating under the SECP’s purview benefit from regulatory oversight and statutory compliance, which enhances their credibility, reduces procurement-related risks, and ensures the enforceability of contractual obligations.
This collective approach supports the development of a more transparent, traceable, and efficient documented economy.
This joint initiative is further bolstered by a comprehensive and targeted public outreach campaign comprising seminars, workshops, and digital media engagement.
The campaign aims to engage informal sector entities through the aforementioned stakeholders, raising awareness about the SECP’s digital and simplified business registration process.
The SECP underscores that such coordinated, cross-sector initiatives are essential for identifying and removing administrative barriers to corporatization while fostering the policy alignment needed to support the formalization of business activities.