ISLAMABAD: As part of doing business reforms agenda, the Securities and Exchange Commission of Pakistan (SECP) and 1Link (Guarantee) Ltd signed an agreement on Thursday to develop a facility to enable the users of SECP’s e-services to pay fees using internet banking or ATMs.
SECP Commissioner Tahir Mahmood and 1Link CEO Najeeb Agrawalla signed the agreement at the regulator’s head office. The banks will add the SECP as a biller in the billers’ module and develop necessary interface with 1Link. Once the system gets operational, the users of e-services will be able to pay the SECP’s fees through internet banking and ATMs.
The SECP has instituted a host of reform measures which have resulted in a robust corporate growth in the country, leading to formalisation of the business sector and documentation of economy, Mahmood said. The proposed online payment mechanism will facilitate the private sector as well as SECP in company registration process and post-incorporation filing required under the law. It will also lead to further reduction in the number of procedures and the time required to start a company.