‘SECP set to leverage modern technology to facilitate investors’

KARACHI: In a bid to bolster investment in Pakistan and foster economic growth, the Securities and Exchange Commission of Pakistan (SECP) is set to leverage modern technology to disseminate information and provide incentives to investors.

This was said by Nighat Awan, President of the Korangi Association of Trade and Industry (KATI), during a seminar organized by SECP at KATI’s premises. The event saw the presence of key figures such as Iftikhar Hussain Naqvi, Deputy Registrar Tauseef Ahmed, and other industry stakeholders.

Awan emphasized SECP’s pivotal role as the primary organization in the country actively supporting and registering business enterprises.

The commission aims to enhance awareness about insurance services and products by harnessing technology to reach a broader audience.

Highlighting the positive impact of SECP’s effective measures, Awan commended the significant surge in the registration of new companies, attributing it to internal automation and institutional reforms.

This development is seen as a favourable indicator of economic growth and prosperity.

Syed Iftikhar Hussain, Additional Registrar of SECP Karachi, provided insight into the organization’s goals and functions.

He emphasized SECP’s status as a government entity responsible for registering businesses across the country, with the current tally exceeding 200,000 registered companies.

Iftikhar noted that SECP registration not only facilitates business operations but also streamlines the process of obtaining loans from financial institutions.

Furthermore, the Additional Registrar briefed seminar participants on SECP’s initiatives to facilitate investment, stimulate competition in the financial sector, boost entrepreneurship, enhance financial inclusion, and expand and promote the market.

As SECP continues to embrace technology for investor outreach, these initiatives are poised to contribute to a more dynamic and investor-friendly business environment in Pakistan.

Moreover, President KATI Nighat Awan and Senior Vice President Muslim Mohamedi demanded SECP to establish a help desk in KATI so that members of KATI can be provided facilities and also aware of SECP rules.

Copyright Business Recorder, 2023