ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has launched a new User Registration System to reduce incorporation cost under E-Services. The new system will reduce the incorporation cost from Rs. 1,500 per user to Rs. 100 per user besides reducing the turnaround time from days to minutes for registration of users of eServices, a press release said.
The new simplified User Registration System under eServices replaced the cumbersome process of obtaining digital signatures from NIFT. The user registration under eServices now can be obtained simply by employing user login, password and PIN code. The user registration under eServices are required for incorporation of new company through online and for signing of the documents to be submitted to the Commission and the registrar concerned.
This will also be a one-time registration without any renewal and associated cost as is presently required on an annual basis.
This facility will be a great incentive for potential pomoters of companies, and is likely to further propel corporate growth.
The salient reform measures which are being taken to further ease doing business environment in the country include revamping of eServices and integration of corporate registry with the provincial authorities, etc.
