As per SECP, in order to minimize shareholding disputes and make the entire process of holding, monitoring, and transferring of shares much easier, cost-efficient and transparent, the SECP is considering a proposal requiring all the public listed, public unlisted, public interest and private limited companies to have their shares in book-entry form in compliance with Section 72 of the Companies Act, 2017.
In April, around 99% companies were registered online, 29% of applicants completed the incorporation process the same day while 220 foreign users were also registered from overseas.
As per SECP, this initiative is expected to significantly reduce the overall starting a business time in Pakistan and would have a positive impact on the countries ranking on the Doing Business Index.