ISLAMABAD: Ending services through the use of modern technology is finally a top priority in Pakistan’s Securities and Exchange Commission of Pakistan (SECP) reform agenda.
He added that the introduction of electronic certification of companies is another step in this direction to make the process of incorporation of the company completely electronic and hassle free.
This development is in accordance with the corporate registries of developed countries.
The electronic certificate has been introduced from January 1, 2021 and the issuance of the physical certificate of the corporation has been stopped.
The new electronic certificate is equivalent to a physical certificate for all legal purposes. It includes a number of security features, including the SECP monogram, the registrar’s electronic seal, QR code and a hyperlink for instant verification from the SECP record. Following this development, the process of incorporating the company has become completely electronic. This physical contact-free service has been rapidly tracked, especially in light of current epidemics, and with the goal of further reducing the time for a company to join.
In 2008, when the e-service was introduced by the SECP for electronic submission, it was the first step taken by any public sector organization in Pakistan.
The recent launch of the Electronic Certificate is another “milestone” in the SECP’s journey of modernization and the end of the digitization of all its regulatory functions.