Lahore: The state-of-the-art Physical One-Stop-Shop has become operational at the Lahore Chamber of Commerce & Industry which was established in collaboration with the Securities & Exchange Commission of Pakistan (SECP), Federal Board of Revenue (FBR), Employees Old Age Benefits Institution (EOBI) and Lahore Chamber of Commerce & Industry. This giant leap was taken to provide world class facilitation to the business community to get registered with the SECP, FBR, EOBI and LCCI.
The LCCI President Ijaz A. Mumtaz launched the One-Stop-Shop while representatives of SECP, FBR, EOBI, Deputy Secretary of the Implementation & Economic Reforms Unit (IERU), Ministry of Finance Fozia Abid and Convener of LCCI Standing Committee Altaf Hussain Turabi were also present on the occasion.
Speaking on the occasion, the LCCI President Ijaz A. Mumtaz said that establishment of Physical One-Stop-Shop is aimed at to provide a single interface for businessmen/investors intending to get their company registered with the SECP, followed by NTN/tax/GST registration with FBR and employers registration with EOBI.
He said that the OSS system will be hosted by the LCCI because of its commitment to provide the requisite capacity to administer the POSS System setup. LCCI will provide all necessary facility in this regard. The POSS arrangement will apply in respect of the procedures of company name registration and company incorporation with SECP, NTN/Income Tax/GST Registration with FBR and Employer’s registration with EOBI.
While lauding the matchless cooperation of SECP, FBR and EOBI, the LCCI President said that One-Stop-Shop for Company Registration will provide simplicity and facilitation for businessmen for export, attaining membership and exploring newer markets for Pakistani products. He said that One Stop-Shop is formed with the cooperation of SECP, EOBI and FBR but there are many more departments would be incorporated, in fact all those departments who are inevitable for the businessmen to start and carry out their businesses.
He said that the standing committee of Code of Corporate Governance has been working very meticulously for making the One Stop Shop a success.
Ijaz A. Mumtaz said that starting from the very contribution of bridging the gap between the business community and the government, LCCI has always tried to play a supportive role using its good office to work for the prosperity of the country and to ease the procedures for doing business in the country.
He said that the step to form One-Stop-Shop will not only facilitate the business community but will also affect positively on the economy of the country.
The LCCI President also lauded the efforts of Implementation and Economic Reforms Unit and Fozia Abid from Ministry of Finance for making this historic Memorandum of Understanding between SECP, FBR, EOBI and LCCI viable.
Fozia Abid in her address said that Implementation & Economic Reforms Unit (IERU) of the Finance Division has been coordinating the development of One Stop Shop (OSS) for new business registration, in collaboration with the Securities & Exchange Commission of Pakistan (SECP), Federal Board of Revenue (FBR) and the Employees Old Age Benefits Institution (EOBI). The OSS being set up at LCCI will use the
Convener of the LCCI Standing Committee Altaf Hussain Turabi also threw light on the aims and objectives of the establishment of One Stop Shop at the LCCI.