In its role as the regulator of an emerging market, the SECP strives to provide a facilitative regulatory environment.  

For Small and Medium Enterprises
In order to encourage small and medium business enterprises to transform into corporate entities, and to broaden the scope of the disciplined corporate sector, the SECP has rationalized and reduced the initial fees to be paid by the promoters at the time of new incorporation of companies. In this regard, the Sixth Schedule to the Companies Ordinance was amended, with the approval of Federal Government, on 9 December 2003. This would lead towards the documentation of the economy and an increase in corporate sector activities.

The SECP is actively liaising with the Small and Medium Enterprises Development Authority (SMEDA), Central Board of Revenue and the State Bank of Pakistan in an attempt to create a conducive environment for growth of small and medium enterprises (SMEs) and to encourage their corporatization.  Moreover, a high profile delegation of the SECP, including its Chairman, has been visiting the Chambers of Commerce and Industry in various cities to accelerate the pace of incorporation through public awareness and facilitation.

The SECP has also conducted in-house trainings in Karachi and Lahore in January 2005. The focus of the trainings was to orient registrars from all the eight Company Registration Offices (CROs) with their role as a facilitator as well as a regulator for the SME sector and to facilitate corporatization while ensuring statutory compliance. The theme of the trainings was promotion of a corporate culture in SME sector of Pakistan that could inter alia be achieved through introduction of an active, professional, and dynamic thinking in the functioning of CROs.

For Foreign Investors
The SECP has designated contact persons at Company Registration Offices in Karachi, Lahore and Islamabad to facilitate foreign investors and to assist them in matters related to company registration and compliance. These individuals have been given the responsibility to provide assistance to foreign investors and answer all their related queries. The contact details are as follows. 

For Promoters
The SECP has extensively modernized the functioning of its CROs and has introduced a highly efficient and automated work environment. The registration department has developed an expeditious corporatization process at its company registration offices. A company can now be incorporated within a maximum period of three days, far less time as compared to any other contemporary jurisdiction. To encourage corporate growth, SECP has set up a facilitation counter with designated officer at CRO Lahore, and also plans to open similar counters at other CROs. A series of guideline booklets have been launched by the department for individuals and companies to get information on various legal and business topics and issues associated with company registration and post incorporation requirements. These booklets are available on the SECP website and can be seen at the following link: http://www.secp.gov.pk/GuideSeries.asp 

To facilitate corporate growth and encourage company formation, various web-based facilities have been provided for company promoters and general public. Users can visit the SECP website to search for company names, and apply for company name reservation through our name reservation facility on our website. Model memorandums of association for various sectors have been developed and placed on the web-site along with the statutory forms for facilitation and use. Also, registration camp offices at the Rawalpindi Chamber of Commerce Industry (RCCI) and the Sialkot Chamber of Commerce and Industry (SCCI) have been setup as part of our endeavors to encourage business growth in the country and to extend public facilitation.

Stamp duty on the memorandum and articles of association of new companies has been an impediment to the development of corporate culture, as affixing of adhesive stamps on these documents is a cumbersome process. To encourage corporatization, the SECP had recommended to the Provincial Governments to abolish stamp duty. The provinces of Punjab and North West Frontier have accepted the proposal and have abolished the duty through their respective Finance Acts. The SECP will continue to pursue the matter with the provinces of Sindh and Balochistan and the Commissioner, Islamabad Capital Territory so that stamp duty on memorandum and articles of association stands abolished throughout the country. Until this is achieved, the SECP has made available adhesive stamps at CROs in Islamabad and Quetta to facilitate promoters.

For Listed Companies
Placement of Interim Accounts on Website: In view of advancement in technology and the benefits it provides, the SECP, vide Circular 19 dated April 14, 2004 allowed listed companies to place their interim accounts on their websites, with prior approval of the shareholders and the SECP. This reduces dispatch cost of companies and time taken in circulation of these accounts by post. However, if any shareholder requests the company to send him the accounts through post, the company will do so without charging any cost to the shareholder. 

Video/Tele Conferencing: The SECP has issued Circular No. 30 and Circular No. 18 dated December 31, 2003 and October 18, 2005 respectively, which facilitated the companies to hold their Board of Directors’ meetings through video and teleconferencing. This measure is intended at facilitating companies in achieving greater participation of such directors who are outside the country and cannot attend board meetings through physical presence, for any reason.