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Securities and Exchange Commission of Pakistan

Securities and Exchange Commission of Pakistan. Functions and Role. Set up under the Securities and Exchange Commission of Pakistan Act, 1997. Became operational on January 1, 1999. Our responsibilities are : Regulation of corporate sector and capital market;

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Securities and Exchange Commission of Pakistan

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  1. Securities and Exchange Commission of Pakistan

  2. Functions and Role • Set up under the Securities and Exchange Commission of Pakistan Act, 1997. • Became operational on January 1, 1999. Our responsibilities are : • Regulation of corporate sector and capital market; • Supervision and regulation of Insurance companies; • Supervision and regulation of non-banking finance companies and private pensions schemes; • Oversight of various external service providers to the corporate and financial sectors, including chartered accountants, credit rating agencies, brokers, surveyors etc. • See our website at www.secp.gov.pk

  3. SECP Timeline

  4. SECP Offices CRO Lahore CRO Karachi CRO Islamabad CRO Multan CRO Faisalabad CRO Peshawar CRO Gilgit CRO Sukkur CRO Quetta Facilitation Centre, Gwadar

  5. Corporate Sector Growth

  6. Sectoral Distribution

  7. Starting a Business Made Easy

  8. Doing Business Report 2019 In World Bank Doing Business Report 2019 Pakistan’s overall ranking improved by 11 notches (from 147 to 136). In “Starting a Business” indicator our ranking improved from 142 to 130; The relevant extract of World Bank Report: Starting a Business: Pakistan made starting a business easier by enhancing the online one-stop registration system, replacing several forms for incorporation with a single application and establishing information exchange between the registry and the tax authority.

  9. Major Reforms

  10. Major Reforms • Company Incorporation procedure simplified • Several Forms merged into one Form;

  11. Major Reforms Single Form for Company Incorporation i.e. Inc. Form-II (Application for Company Incorporation); • Registered office address of the company; • Principle line of business; • Company’s Capital Structure; • Particulars of subscribers, directors and chief executive officer of the company.

  12. Major Reforms • Company Incorporation procedure simplified; • Name reservation and incorporation procedure merged; • Facility provided for online payment of fee through mobile and internet banking; • Scanned Copy of Certificate of Incorporation being sent through e-mail; • Company incorporation time reduced to four working hours.

  13. Major Reforms Facilitation Measures: No need to hire a consultant for registration of a company; • Complete guidance material including fee schedule, standard Memorandum and Articles of Association for more than 80 sectors available at SECP website; • Facilitation desks at Company Registration Offices provide complete assistance for company registration; • Application can be submitted online as well as offline; • More than 90% companies being incorporated online.

  14. Reduction in Cost Fee Schedule i.e. Seventh Schedule is available at SECP website.

  15. One Window Facility for Company Registration Continued……..

  16. SECP e-Services

  17. SECP e-Services

  18. SECP e-Services

  19. Impact of Reforms

  20. Impact of Reforms Continued……..

  21. Impact of Reforms Continued……..

  22. Impact of Reforms Continued……..

  23. Future Agenda

  24. Future Agenda • Establishment of State of the Art Business Centers in Karachi Lahore and Islamabad; • Introduction of digitally signed certificates of incorporation/registeration in line with international jurisdictions.

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