SECP short steps to facilitate company formation lauded
LAHORE (APP): Lahore Chamber of Commerce & Industry (LCCI) Tuesday welcomed the revolutionary steps taken by Securities & Exchange Commission of Pakistan (SECP) to facilitate company formation and said that these initiatives would give boost to the trade and economic activities in the country.
The LCCI President Sheikh Muhammad Arshad, Senior Vice President Almas Hyder and Vice President Nasir Saeed said here that SECP's move to ease the process of company registration would reduce the difficulties of businessmen in getting their businesses registered with Securities & Exchange Commission of Pakistan.
The LCCI office-bearers said that initiative of obtaining digital signature from National Institutional Facilitation Technologies (NIFT) online would drastically reduce the time for company formation as the users would no longer have to submit manual request for digital signatures.
The LCCI Senior Vice President Almas Hyder said that the provision of making payments through credit cards would expedite the payment process as the users would not have to make payments through the challan forms at the bank counters.
He said that substantial reduction in registration fee for companies with small capital base would substantially increase the number of new business registrations.
The opening of facilitation centres in Sialkot and Abbotabad, he mentioned, was very heartening and definitely increase new business registrations. The SECP took a giant leap forward in terms of providing world class facilities to business community.
The LCCI office-bearers said that SECP's step would ensure simplicity and facilitation to businessmen, besides improving Pakistan ranking in ease of doing business and also affect positively to the economy of the country. They said that other government departments should follow the SECP, who were inevitable for the businessmen to start and carry out their businesses.
They said that the Lahore Chamber of Commerce & Industry was ready to supplement the SECP efforts aimed at promotion of business activities in the country.
They said that starting from the very contribution of bridging the gap between the business community and the government, the LCCI always tried to play a supportive role using its good office to work for the prosperity of the country and to ease the procedures for doing business.