SECP introduces combined digital registration with provincial depts
- 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.
The Securities and Exchange Commission of Pakistan (SECP) has introduced a single combined digital certificate evidencing registration with SECP and some provincial departments simultaneously.
The SECP on Thursday said that that it 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.
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. It informed that 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 join this league.
The single combined certificate will be issued through SECP e-Services in real-time upon the incorporation of a company through a single window and will simultaneously register the company with provisional departments, including Punjab Employees Social Security Institution (PESSI), Sindh Employee Social Security Institution (SESSI), Labour and Human Resource Departments and Excise & Taxation Department of Punjab and Sindh.
The digital combined certificate features a QR code and hyperlink for instant verification of the registration status of the company.
It is pertinent to mention that the SECP has in the past also integrated its systems with FBR and BOI.
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