Automation of services top priority

ISLAMABAD: End-to-end automation of services through the use of modern technology is the top priority on the Securities and Exchange Commission of Pakistan’s (SECP) reform agenda, a statement said on Wednesday.

Launch of electronic certificate of incorporation is another step in this direction to make the company incorporation process fully electronic and hassle-free, it added.

This development is in line with the corporate registries of developed countries.

Electronic certificate has been launched from January 1, 2021 and issuance of physical certificate of incorporation has been discontinued.

New electronic certificate is equivalent to the physical certificate for all legal purposes. It includes various security features, including SECP monogram, electronic seal of the registrar, QR code and a hyperlink for instant verification from the SECP’s record. After this development, the company incorporation process has become fully electronic. This physical contact-free service has been especially fast-tracked in the light of the current pandemic, and with a view to further reduce the time to incorporate a company.

In 2008, when eService was launched by the SECP for electronic submission, it was the first of its kind initiative by any public sector organization in Pakistan.

The recent launch of electronic certificate is another “first” in SECP modernization journey and towards end to end digitization of all its regulatory functions.