LAHORE: According to a top Securities
and Exchange Commission of Pakistan (SECP) official, the digitalization and
standardization of the company incorporation process, as well as integration
with other government agencies, resulted in a 51 percent increase in
new company
registrations in FY 2020-21.
While inaugurating a commission’s facilitation desk at the
Lahore Tax Bar, Aamir Khan, chairman SECP, also briefed
the commission’s use of the ‘regulatory guillotine’ method to
evaluate and simplify existing regulations delete those that were no longer
needed. He explained, “It leads to economically significant
regulatory cost reductions for businesses.“
He stressed the importance of economic documentation for
economic success and developing a thriving corporate sector during the event.
The facilitation desk, which was intended to assist in resolving the practical
challenges faced by the business community, was praised by the SECP chairman.
Mubashar Saeed Saddozai, the registrar of
businesses, stated that the facilitation centre would provide necessary
help to new company promoters and existing companies’ management and
anticipated that such steps would improve the overall user experience for the
general public.
