Securities and Exchange Commission of Pakistan (SECP) Chairman Dr Tariq Hassan on Saturday inaugurated 'facilitation desk' at city's Company Registration Office (CRO) for convenience of general public and corporate sector.
The primary objective of establishing this counter is to provide information about incorporation procedures, forms, applications and status of individual complaints. Information regarding pre-incorporation and post-incorporation requirements would also be provided at the counter.
Talking to newsmen after inauguration of the facility, SECP chief Dr Tariq Hassan said after Lahore such state-of-the-art facilitation counters will be also be established in other CROs for the benefit of general public and corporate sector.
Highlighting salient features of 'facilitation desk', Tariq said it would also have a receipt counter for receiving documents from companies under the provision of Companies Ordinance 1984, and a dispatch counter for issuance of letters and acknowledgement of filing as prescribed under Companies Regulations. Its inquiry counter will deal with inquiries regarding availability of names, incorporation of local companies, foreign companies, associations not for profit, guarantee companies and other matters pertaining to companies. Moreover, its special services counter will be responsible for speedy services in the areas of registration of companies, availability and searching of files by the cooperates. "Through this facility we have eliminated unproductive time," he said. This will also supplement Regulator's efforts in the areas relating to integrated online services.
To a question, Tariq said the whole system of SECP would go online by June next year. He added SECP was also going to revise its web page and its soft launching would take place soon while hard launching would be ready by January next year. With the co-operation of Ministry of Information Technology, they were also working on a project to provide IT-support to SMEs, he disclosed. About other initiatives Dr Tariq Hassan said being regulator of an emerging market they were also working on enhancing the compliance, besides enforcement.