The Securities and Exchange Commission of Pakistan (SECP) has taken a great step towards the improvisation of business and corporate sector in the country. As per the official sources, SECP has taken a new initiative through which companies will be able to register themselves officially within a day. The service has been introduced in Karachi, Islamabad, and Lahore.
As mentioned in SECP’s press release:
“Incorporation and facilitation desks have been established at these Company Registration Offices, which will ensure facilitation to the investors so that companies are incorporated within a day.”
“This swift mode of registration is likely to further promote corporation of the business sector.”
A single day company registration will help the startups and low-scale business owners to reduce the time spent on record-keeping.
Apart from the mentioned, SECP has also introduced resourceful new services, which are:
- Reduction of registration fee for small companies,
- Incorporation process to further reduce the time taken for registration.
- Reduction in the filing fee for small capital base companies,
- Merging the name availability, and
- Ending of the name availability fee.