ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has signed an Memorandum of Understanding (MOU) with the Punjab Information Technology Board (PITB) for sharing corporate data available in e-Services through an online interface to be developed for the purpose.
A signing ceremony in this respect was held through videoconference on Wednesday, said SECP press statement here.
Zafar-ul-Haq Hijazi, the SECP chairman, and Dr. Umar Saif, the PITB chairman, signed the MOU on behalf of their respective organizations.
The interface will enable PITB to utilize the company registration data available in the SECP's e-Services within the business registration portal being developed by the PITB.
It has been planned that after integrating various registration processes in the provincial domain, the business registration portal will be connected with the federal authorities, including SECP, for which an application programming interface is required to be developed for data sharing between the business registration portal and e-Services.
It may be mentioned that Pakistan ranks 144, out of 191 economies, in the World Bank's Doing Business Report,2017.
The current ranking can be improved with the introduction of integrated online business registration system between federal and provincial authorities.
Earlier, the SECP had also integrated its online registration system successfully with the FBR for NTN registration on the basis of company registration data made available through e-Services.
The SECP plans to sign similar MOUs with relevant authorities of other provincial governments to facilitate them in registration under their respective domains through utilization of the company registration data available with it.
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