IAP urges SECP to simplify procedures for companies’ registration

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PESHAWAR
The Industrialists Association Peshawar (IAP) president Ayub Zakori has urged the Securities and Exchange Commission of Pakistan (SECP) to take pragmatic steps in simplifying procedures and process of companies’ registration.
Furthermore, he suggested the organizing special awareness seminars and programs about SECP and corporate governance rules for the business community
Mr Zakori made these demands during a meeting with Securities and Exchange Commission of Pakistan (SECP) Chairman Akif Saeed, SECP Headquarters in Islamabad, said in a press release here on Tuesday.
Senator Nauman Wazir also present during the meeting. The IAP chief made several proposals for facilitating the business community.
On the occasion, IAP president Ayub Zakori and Senator Nauman Wazir apprised the Chairman SECP Akif Saeed in detail about the problems of industrialists and urged the SECP to take reforms measures to simplify companies’ registration process for promotion of businesses and industrial growth.
The meeting said that SECP is focused on taking key steps for digitization of corporate law.
The participants emphasized that regular awareness sessions regarding SECP and corporate governance rules should be conducted by SECP in Peshawar.
These will be aimed towards education and facilitation of AOPs and sole proprietorships in moving all businesses towards corporatization. For this IAP and SECP would work in a close liaison, the meeting told.
The participants appreciated SECP for introducing a simplified process on its website to facilitate corporatization of businesses.
Ayub Zakori suggested a revamped regime of initial public offering (IPO) to make the IPO process simple & cost effective for transforming private limited company to public limited company and has been brought to maximum 14 days for further listing of a company’s shares in Pakistan Stock Exchange.
In this regard FF Steel has been certified as a public limited company (first in this region since 1992) whose shares will now be enlisted in PSX, the IAP chief informed.