New digital platform to improve ease of doing business
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
After restricting key investor-related information from its website, the Securities and Exchange Commission of Pakistan (SECP) launched a new digitally advanced eZFile platform on Thursday.
The SECP has claimed that this milestone underscores its commitment to modernising corporate regulation through automation, simplifying compliance, and improving the ease of doing business.
The SECP has withdrawn the details from its website related to the name of directors and their paidup capital of registered companies. The investors can now obtain this information through a lengthy procedure and after payment of Rs600 per page.
The original idea of placing the information on the website was to facilitate potential investors who were not physically present in the country.
Meanwhile, eZFile will replace the previous eServices system and this update includes processes related to the registration of foreign companies and post-registration compliance, the registration, modification, and satisfaction of mortgages, charges, and pledges, changes in the principal line of business, including alterations in the Memorandum of Association, and the registration, modification, and satisfaction of an entire series of debentures or redeemable capital.
The SECP spokesman has claimed that implementing these re-engineered processes reflects the commission’s focus on building a technology-driven regulatory framework.
Reference Link:- https://www.dawn.com/news/1900790/new-digital-platform-to-improve-ease-of-doing-business
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
