LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) on Tuesday welcomed the revolutionary steps taken by Securities and Exchange Commission of Pakistan (SECP) to facilitate company formation and said that these initiatives would give boost to the trade and economic activities in the country.
In a statement issued here, LCCI President Sheikh Muhammad Arshad, Senior Vice President Almas Hyder and Vice President Nasir Saeed said that the SECP move to ease the process of company registration would reduce the difficulties of businessmen in getting their businesses registered with Securities and Exchange Commission of Pakistan.
The LCCI office-bearers said that the initiative of obtaining digital signature from National Institutional Facilitation Technologies (NIFT) online will drastically reduce the time for company formation as the users will no longer have to submit manual request for digital signatures.
LCCI Senior Vice President Almas Hyder said that the provision of making payments through credit cards will expedite the payment process as the users will not have to make payments through the challan forms at the bank counters. He said that substantial reduction in registration fee for companies with small capital base will substantially increase the number of new business registrations. He said that the opening of facilitation centres in Sialkot and Abbotabad is very heartening and will definitely increase the new business registrations. He said that Securities & Exchange Commission of Pakistan has taken a giant leap forward in terms of providing world class facilities to the business community.
The LCCI office-bearers said that SECP move will ensure simplicity and facilitation to businessmen besides improving Pakistan ranking in ease of doing business. They said that other government departments should follow the SECP who are inevitable for the businessmen to start and carry out their businesses.
They said the step which Securities & Exchange Commission of Pakistan has taken, will not only facilitate the business community but will also affect positively to the economy of the country.
They said that the Lahore Chamber of Commerce & Industry is ready to supplement the efforts of Securities & Exchange Commission of Pakistan aimed at promotion of business activities in the country. They said that starting from the very contribution of bridging the gap between the business community and the government, LCCI has always tried to play a supportive role using its good office to work for the prosperity of the country and to ease the procedures for doing business in the country.
