Qudsia Bano

In a strategic move to attract investment and stimulate economic growth, the Securities and Exchange Commission of Pakistan (SECP) is gearing up to harness modern technology for dissemination of efficient information and provision of incentives to investors. Nighat Awan, President of the Korangi Association of Trade and Industry (KATI), highlighted this transformative initiative during a seminar held on the KATI's premises. Key industry figures and SECP representatives attended the event, reports WealthPK. Nighat highlighted the pivotal role of the Securities and Exchange Commission of Pakistan (SECP) in actively supporting and registering businesses. She said the SECP's focus on leveraging technology to raise awareness about insurance services and products was aimed at reaching a broader audience and boosting investments in the country. She commended the SECP for effective measures, resulting in a significant increase in new company registrations, attributed to internal automation and institutional reforms, signaling a positive economic growth. Additional Registrar Syed Iftikhar Hussain emphasized the SECP's role as a government entity with over 200,000 registered companies, facilitating business operations and loan processes.

The SECP's initiatives to stimulate investment, competition, entrepreneurship, and financial inclusion, coupled with its use of technology to reach out to investors, are expected to contribute to a more dynamic and investor-friendly business environment in Pakistan. In response to the changing landscape, the KATI leaders urged the SECP to establish a dedicated help desk to foster a business-friendly environment and ensure that the local businesses are well-informed and supported. Overall, the SECP's strategic embrace of technology positions Pakistan as an attractive destination for investment and economic growth. Talking to WealthPK, Dr. Syed M. Abdul Rehman, Shariah Adviser SECP, said the Commission's recent commitment to harnessing modern technology for investor outreach and information dissemination marked a pivotal step towards propelling Pakistan's economic growth. He said the SECP's emphasis on leveraging technology to enhance awareness about insurance services and products was commendable.

"In an era where digitalization plays a crucial role in economic development, the Commission's proactive stance is essential for reaching a broader audience and attracting much-needed investment," Abdul Rehman said. He said the surge in the registration of new companies, as noted by Nighat Awan, was a tangible outcome of the SECP's internal automation and institutional reforms. This uptick not only signals a positive trajectory for economic growth but also underscores the effectiveness of the SECP's measures in facilitating the business landscape, he added. The SECP's initiatives to stimulate competition in the financial sector, boost entrepreneurship, enhance financial inclusion, and expand the market align with the global best practices. The Commission's commitment to embracing technology for investor outreach not only positions Pakistan as a technologically advanced market but also ensures a transparent and efficient business environment.

Credit: INP-WealthPk