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Business
May 6, 2021
ISLAMABAD: Registration of companies with the Securities and Exchange Commission of Pakistan (SECP) increased around two times in April with almost all processes done online.
Process simplification, facilitation to public and digitalization of incorporation processes has led to extraordinary growth, the SECP said in a statement.
Aamir Khan, chairman of SECP attributed the trend of growth to digitalisation and automation, introduction of simplified combined process for name reservation and incorporation, very low level of fees, and assistance provided for incorporation by the newly established business centre. The IT sector, for the first time, took lead with the registration of 194 new companies in a month. The IT sector was followed by the trading sector with registration of 180 new companies, construction with 117, import and export with 115, and consultancy services with 110.
ISLAMABAD: Pakistan has joined the league of a few economies in the world where a business can be registered with the provincial and federal authorities from a single online center, the Securities.
SECP Launches Combined Digital Registration with Provincial Agencies
As part of its transformational journey, the SECP has now introduced a single combined digital certificate evidencing registration with SECP and some provincial departments simultaneously.
The SECP continues to strive for reducing physical interaction with the citizens and is focused on providing services through the use of modern technology at the doorstep of the end-users.
This initiative is expected to significantly reduce the overall “Starting a Business” time in Pakistan and would have a positive impact on the country’s ranking on the Doing Business Index.
There are less than 10 jurisdictions globally, where federal and provincial registrations are integrated online on a real-time basis, and Pakistan has also now joined this league.
300,000 Laborers Will Be Issued Health Cards in Punjab
The Commissioner of the Punjab Employees Social Security Institution (PESSI), Dr. Syed Bilal Haider, announced that it will deliver health cards to 300,000 laborers on their doorsteps.
Dr. Haider met with the representatives of the All Rawalpindi Restaurant Association (ARRA) and apprised them that the laborers registered with the PESSI would be provided health cards once their credentials were verified by the National Database and Registration Authority (NADRA).
The General Secretary ARRA, Chaudhry Mohammad Farooq, had raised the issue of health cards with the commissioner and had written a letter to the PESSI about its “discriminatory policy towards restaurant employees”.