The Securities and Exchange Commission of Pakistan (SECP) has launched eZFile, a modern digital platform aimed at streamlining corporate regulatory processes and enhancing the ease of doing business in the country. This initiative underscores SECP’s commitment to automating and simplifying compliance procedures for businesses.
eZFile replaces the older eServices system and introduces improved processes for various corporate activities, including:
- Registering overseas businesses and post-registration legal compliance.
- Management of mortgages, charges, and pledges.
- Amendments to the principal line of business, such as changes to the Memorandum of Association.
- Handling of debentures or redeemable capital.
An SECP spokesperson highlighted that these re-engineered processes reflect the commission’s focus on building a technology-driven regulatory framework.
In a related development, SECP has removed certain company details, such as directors’ names and paid-up capital, from its website. Investors seeking this information must now follow a more involved procedure, including a fee of Rs 600 per page. Previously, this information was readily accessible online to assist potential investors, particularly those not physically present in Pakistan.
This move aligns with broader efforts in Pakistan to digitize financial and regulatory systems. For instance, the Federal Board of Revenue (FBR) has introduced ePayment 2.0, a system designed to simplify tax payments through secure online channels, reducing the need for physical bank visits.
These initiatives collectively represent significant strides toward creating a more efficient and business-friendly environment in Pakistan.
