Pakistan’s financial regulatory arm, Securities and Exchange Commission of Pakistan (SECP) looks after the finances and proceedings of the corporate sector of the country. Their purpose is to strategize a modern and effective sector and market which can be strengthened through more operative policies which can be used to further stimulate economic growth in the country.
In an effort to promote reformation in the business sector, SECP have launched a facility to enable company and National Tax Number (NTN) registration.
The Securities and Exchange Commission of Pakistan (SECP) and the Federal Board of Revenue (FBR) have collaborated to enable this initiative. They have launched a one-window facility that can allow for companies and NTN registrations. This facility was launched by the Chairman of SECP, Zafar Abdullah and the Member IT for FBR, Khawaja Adnan Zahir.
The ceremony was held at the head office of SECP. This is where they highlighted and congratulated the efforts of the SECP and the FBR in developing this system and making it functional. This included an important reformation of the SECP in itself which has resulted in a rapid growth in the corporate sector of Pakistan and advancements in its business sector and economy as well.
A video recording was shown to participants in order to get more comfortable with the NTN registration process. This included a tutorial where an entrepreneur can login to SECP online portal service which will get them registered and hence will receive an NTN automatically at the official email address. In an effort to simplify the procedure of the registration process, it eradicates the problematic task of going to a multitude of offices in order to get their companies registered.
This facility is an important example of how different sectors of the government can work together to provide effective solutions of the country. Khawaja Adnan was noted to have mentioned that,
“The creation of a cross-institution single process of registration of a company is the first step and the efforts should be continued to include more organizations. A lot more can be achieved if government organization work in such close coordination.”
Moreover, this will also promote entrepreneurship in the country as more countries entrepreneurs can startup their business and foreign investors will be more attracted to this offer.