- New measures include greater information sharing among state institutions, improved access to environmental requirements
- The development comes as the government seeks to strengthen the country’s investment climate, reduce regulatory hurdles
KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has approved key measures, including boosting digital access to information on companies and reducing regulatory hurdles, to improve the country’s Business Ready ranking, it said on Monday.
The World Bank’s Business Ready assessment evaluates economies on factors affecting the business environment, including regulatory frameworks, public services and operational efficiency. Pakistan ranks 17th among 101 economies in business entry category, with a score of 86.64, according to the SECP.
The SECP said it has made registration of companies and changes after registration available to the Federal Board of Revenue (FBR) through an automated system, while links to information on environmental requirements and permits will be provided on the SECP website.
Information on government support programs for small-medium enterprises (SMEs) and women entrepreneurs has been made available on SECP website, while the regulator has also released gender-based statistics on newly registered companies.
“These measures will further improve transparency, access to information and digital connectivity between institutions,” the SECP said in a statement.
“These measures are expected to further improve Pakistan’s business-ready performance and ranking.”
Pakistan’s efforts to improve its Business Ready ranking come as the government seeks to strengthen the country’s investment climate, reduce regulatory hurdles and make it easier for businesses to operate.
Improving access to reliable information and strengthening coordination among government institutions are therefore seen as important steps toward making Pakistan’s business ecosystem more transparent, efficient and investor-friendly.
SECP said its gender-based statistics now include men and women shareholders, directors, chief executives and beneficial owners of registered companies.
“SECP will also develop and publish a gender-based data set on company directors and beneficial owners,” the regulator said.
