ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has encouraged property developers and builders to register their businesses as formal companies. The move was discussed during a meeting with the Association of Builders and Developers (ABAD).
SECP Commissioner Muzaffar Ahmed Mirza briefed ABAD representatives on corporate reforms. He also explained the process of registering businesses under the corporate framework.
The SECP highlighted several potential benefits of company registration. These include better access to financing and a more structured business setup. Formal registration can also provide a clearer corporate framework for growing businesses.
During the session, SECP officials demonstrated the eZfile portal. The digital platform allows businesses to complete various company registration processes online. Officials explained the main steps involved in using the system.
ABAD members also discussed registering their businesses as companies. The association will consider the option among its members. They also discussed the possibility of registering Real Estate Investment Trusts (REITs).
The SECP said formal registration can support businesses seeking financing. It can also help strengthen corporate structures and improve business documentation.
The meeting also provided an opportunity to discuss issues facing the real estate sector. ABAD will prepare proposals for the SECP. The proposals will cover matters related to the property and construction industry.
The latest discussion reflects efforts to encourage more formal corporate structures in the real estate sector. Further steps will depend on decisions by individual businesses and relevant regulatory authorities.
