SECP launches swift in­cor­po­ra­tion scheme

Pakistan Observer - - ECONOMY WATCH - STAFF RE­PORTER

ISLAMBAD—The Se­cu­ri­ties and Ex­change Com­mis­sion of Pak­istan (SECP), with the aim to en­sure ease in do­ing busi­ness in Pak­istan and to fa­cil­i­tate the en­trepreneurs for reg­is­tra­tion of com­pa­nies, has launched swift in­cor­po­ra­tion scheme. Un­der the schemes the doc­u­ments for the in­cor­po­ra­tion of a com­pany shall be pro­cessed on the same day as against two work­ing days, if ap­plied on­line with short Me­moran­dum and Ar­ti­cles of As­so­ci­a­tion placed on the SECP’s web­site at http:// www.secp.gov.pk/CLD/ cld_mem­o­_ar­ti­cle.asp and the doc­u­ments are re­ceived by 10 am.

Fur­ther, if the doc­u­ments are sub­mit­ted on­line un­der the Fast Track Reg­is­tra­tion Ser­vices (FTRS), with short Me­moran­dum and Ar­ti­cles of As­so­ci­a­tion and re­ceived by or be­fore 3 p.m., the same shall be pro­cessed within two hours as against four hours. The afore­said mea­sures have been taken by the SECP to re­duce the turn­around time in start­ing the busi­ness and to ease the process of in­cor­po­ra­tion for the ben­e­fit of pro­mot­ers and to en­cour­age cor­po­ra­ti­za­tion in the coun­try. This fa­cil­ity will be avail­able start­ing June 24, 2016. The SECP has re­cently taken a num­ber of steps to fa­cil­i­tate the cor­po­rate sec­tor, in­clud­ing dras­tic re­duc­tion in the fee for the in­cor­po­ra­tion of com­pany, fil­ing of re­turns, pro­vi­sion of one set of com­pli­men­tary copy of the in­cor­po­ra­tion doc­u­ments and of the ac­cepted re­turns.

ISLAMABAD: Me­hdi Honar­doost, Am­bas­sador of Iran called on Shahid Khaqan Ab­basi Fed­eral Min­is­ter for Pe­tro­leum and Nat­u­ral Re­sources.

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