Company registration in Balochistan has witnessed significant rise following special facilitation offered by the Securities and Exchange Commission of Pakistan (SECP) for new incorporation in the province.
As a result of the policy of the Securities and Exchange Commission of Pakistan to extend the best possible facilities to businessmen to register their business as companies, a record number of 47 companies were registered during the months of July and August 2005 in Quetta. In comparison to this, only one, 16, 18 and 28 companies were registered during the whole years of 2001, 2002, 2003 and 2004 respectively.
The Quetta CRO registered total of 64 companies from January 2005 to August 2005 bringing the total number of registered companies in Balochistan to 381.
The SECP has recommended abolition of stamp duty on memorandums and articles of association of companies in the province, which would further encourage incorporation of companies and accelerate the business activity in the province. The SECP has already made available the adhesive stamps required for registration of memorandum and articles of association of a new company and for copying of any document at company registration office, Quetta, to facilitate promoters of companies.
The SECP is also working to expand its scope of activities in Balochistan to promote corporatisation with a vision that there is unbounded potential for industrialisation in Balochistan culture in the region. The SECP is committed to continue its efforts for providing impetus to corporatization and the development of the corporate sector in the province.
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