He was talking to LCCI President Mian Shafqat Ali and Vice President Aftab Ahmad Vohra here at LCCI on Wednesday. Former executive committee member Khawaja Imtiaz Ahmad and Secretary LCCI Wing Commander Muhammad Younas were also present in the meeting.
The commissioner said that the SECP wanted to keep a close liaison with the Lahore Chamber of Commerce and Industry so that maximum number of the businessmen could take advantage of the facilities being introduced by the commission. He said the sole object of the SECP is to promote the SME sector, which is backbone of the economy. He said the procedure of availability of new name of the company has now been revolutionised and in only one day the person who has established a new company could get a registered name as the number of registration offices in the country has increased to eight.
Talking about foreign investment, the SECP commissioner said that foreign direct investments (FDIs) are always encouraged in the larger interests of the country.
Speaking on the occasion, the LCCI President Mian Shafqat Ali appreciated the series of SECP reforms aimed at protecting the interests of the stakeholders in corporate sector. He said that despite these reforms the powers of big brokers have still not diminished. He said that the SECP should evolve a new methodology so that the interests of investors' especially small investors could be protected in right manner.
The LCCI president said that the SECP should make some arrangements to give awareness to the corporate sector about the recently notified Voluntary Pension System Rules, 2005 as a big segment is still not fully aware of this system of contributions to pension funds.
The LCCI Vice President Aftab Ahmad Vohra urged the SECP chairman to get restored the nomination of one LCCI member on the board of Lahore Stock Exchange. He said that the Lahore Chamber was ready to provide SECP every co-operation in conducting seminars at LCCI for creating awareness among the businessmen in this regard.
At the end of the function, the SECP commissioner along with the LCCI vice president visited various departments of the LCCI and asked questions about the working of the chamber.