ISLAMABAD (APP) - The Securities and Exchange Commission of Pakistan here on Monday launched its Rs.38 million e-Services project with an aim to improve efficiency and effectiveness of the business processes of SECP with a speedy, transparent and paperless environment. Speaking at a press conference, Chairman SECP Razi-ur-Rehman said that the project would go long way in facilitating and making it easier for the representatives of companies and the business communities to interact with and obtain information from SECP through electronic modes in a swift and easy manner. He said that the project would facilitate the corporate sector, practitioners, consultants and public at large. It will facilitate the availability of name, incorporation for companies and e-filing of statutory returns besides enabling the promoters and other officers of the company to interact online using the e-Services portal, without visiting the Company Registration Offices at SECP. "SECP has signed an agreement with National Institute of Facilitation Technology (NIFT) for the provision of digital signatures at subsidized," he said adding that for this purpose, the corporate sector would have to log on to www.niftetrust.com. He said that the project was initiated in 2003 and completed in 2008 adding that now all the SECP data would be computerized to facilitate the customers. Arshad Minhas, ED, IT, speaking on the occasion, said that the project would not only provide linkage between the SECP and companies but also different sections and officers of the SECP. He said that the project was one of its kinds, which is going to be implemented in Pakistan, even most of the developed countries have not yet implemented this type of system and are in the practice of working on manual systems. The e-service is an electronic data gathering and retrieval system that would perform automated collection, acceptance and forwarding of submissions by companies who are required by law to file forms and documents within SECP. The service will enable promoters to complete the registration process online, using the e-Service portal, without visiting the CRO and making it possible for companies to file their statutory returns with the registrars online. The SECP had arranged a number of seminars in various big cities of the country to create awareness about the project and discuss and seek input and advice from the stakeholders before launching it.