Islamabad: The Securities and Exchange Commission of Pakistan (SECP) on Thursday asked the women entrepreneurs to register their businesses as companies to ensure permanence, credibility, longevity, and stature.
Registration of businesses will help promotion, documentation of economy, and contribute towards national development, the financial regulatory agency said.
Speaking at a workshop organised by Islamabad Women Chamber of Commerce and Industry (IWCCI), Executive Director Mr Nazir Ahmed Shaheen, Joint Registrar Anas Noman, Muhammad Akram Qureshi and Muhammad Qasim said that a company is the most enduring legal corporate structure having unlimited life.
Capital can be easily raised by a company by selling shares and acquiring loans, they said adding that companies have better access to local, regional and global markets.
Women should not loose opportunities to redefine their future as larger organizations prefer to deal with companies rather than non-corporate entities, they said.
SECP officials said that female contribution to economy is great while many have left footprints where ever they have gone.
At the occasion, the participants discussed host of reasons including weaknesses in laws and attitude of tax officials which is keeping them from registering their firms.
They said that women prefer sole-proprietorship due to cumbersome procedures and absence of incentives.
Lauding the role of SECP, founder President, IWCCI Samina Fazil suggested that all the discrepancies should be removed to bring our cost of doing business closer to the regional countries.
We are ready to play our role in increasing the tax revenues which will create employment opportunities, improve services and boost economy, said Samina.