The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in collaboration with Securities & Exchange Commission of Pakistan (SECP) organized a session on incorporation and filing process of companies at FPCCI Head Office Karachi. The session was presided by Mr. Zahid Saeed Vice President FPCCI and attended by the Representatives of Trade Bodies, leading businessmen, small traders and entrepreneurs.
The team of Securities and Exchange Commission of Pakistan was led by Mr. Muhammad Naeem Khan Additional Registrar and Incharge CRO SECP and other included Mr. Kashif Mahmood, Additional Joint Registrar, SECP and Ms. Bushra Shamim, Management Executive, CRO, SECP. The aim of organizing the session was to educate the business community and new entrepreneurs about the filing requirements and procedure of registration of new business in new regimes.
In his welcome address, Mr. Zahid Saeed Vice President FPCCI highlighted the statistics of World Bank Ease of Doing Business which ranked Pakistan on 147 out of 190 economies and lowest compared to regional economies. He emphasized on improving the rank of Pakistan as most of the foreign investors make decision of investment in other countries on the basis of ease of doing business. In order to improve the doing business index, we need to simplify business procedures, make it easy and time savings with use of technology, Zahid Saeed added.
In his remarks Mr. Muhammad Naeem Khan Additional Registrar and Incharge CRO stated that SECP has revamped the entire legislative framework for corporate sector which fosters ease of doing business and recently introduced unified incorporation process which has accelerated the process of incorporation of companies. The SECP has linked its incorporation system with Federal Board of Revenue which simplifies the procedure of e-filing and reduced the time of registration of companies to four working hours.
In their presentation, the representatives of SECP shared various features and benefits of the combined and individuals process of company registration including the e-filing procedure of incorporation for local and foreign nationals and company registration, creation of used account, electronically submission of form and information to be filed/submitted under Companies Ordinance 1984.
The session was also attended by Mrs. Saeeda Bano, Vice President FPCCI and Other prominent businessmen. The other issues pertaining to the trade bodies also came under discussion.