I am pleased to know that following its past tradition, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) is organizing the 40th "Expert Trophy Awards" 2016 to confer awards to the leading exporters of Pakistan in recognition of their exceptional performance this year.
The organisation of Export Trophy Award is a commendable step because they recognise the achievements of exporters who dare to venture in new areas and succeed. By learning from the example of successful exporters, new entrepreneurs will also be encouraged to take bold initiatives and win a seal of approval from the apex body. On this occasion, I would also like to appreciate the contribution of the private entrepreneurs for promoting the image of the country through quality products.
Being the premier body of trade in Pakistan, FPCCI is making vigorous efforts to promote our exports, and the Awards represent but one facet of the complex role played by FPCCI in furthering the trade and industry interests of the country. In the face of historical problems of law and order and power shortages, Pakistan's business community has remained steadfast to increase the export potential of Pakistan by exploiting new market for diversification of exports. The export of diverse and value-added items will fetch us more foreign exchange than the sales of traditional products in traditional markets.
I also wish to appreciate the Government's resolve to facilitate the business community in their efforts to boost Pakistan's exports and playing a greater role in the development of country.
In this regard, Securities & Exchange Commission of Pakistan (SECP) has taken several steps in last two years to facilitate the business community and the corporate sector. These include steps to reduce the difficulties of businessmen by easing process of company registration. A fast track registration system has accordingly been introduced. Moreover, substantial reduction in registration fee for companies has been provided.
Furthermore, most recently, after extensive consultation with all stakeholders, the "Companies Ordinance, 2016", has been promulgated.
The major focus of the new law is facilitation to the corporate sector, strengthening of the regulatory frame work in line with the international best practices, placing emphasis on the use of technology, abolishing unnecessary requirements, promoting paperless environment, protection of the interest of shareholders, evolving a softer regime for the companies having no stake of the general public and facilitation to and regulation of Public Sector Companies.
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