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.