LAHORE - The Federal Board of Revenue, Securities & Exchange Commission of Pakistan, Employees Old Age Benefits Institution and Lahore Chamber of Commerce & Industry Saturday signed a Memorandum of Understanding (MoU) to establish Physical OSS at the LCCI to facilitate business community to get registration of SECP, FBR and EOBI.
The MoU was signed by LCCI President Engineer Sohail Lashari, Chairman Federal Board of Revenue (FBR) Tariq Bajwa, Chairman Securities & Exchange Commission of Pakistan (SECP) Tahir Mahmood and Director General EOBI Iqbal Haider Zaidi. The MoU between, SECP, FBR, EOBI and LCCI aimed at providing a single interface for businessmen intending to get their company registered with the SECP, followed by NTN/tax registration with FBR and employers registration with EOBI. 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 Registration with FBR and Employer’s registration with EOBI.
Speaking on the occasion, LCCI President Engineer Sohail Lashari while lauding the matchless cooperation of SECP, FBR and EOBI, said that Physical One-Stop Shop for Company Registration will provide simplicity and facilitation for businessmen for export.
Umer Khalida Abid informed the participants that Implementation & Economic Reforms Unit (IERU) of the Finance Division has been coordinating the development of One Stop Shop (OSS) for new business registration. They said that these three agencies signed an MoU in December 2013 for establishment of a virtual one stop shop through an online portal. The POSS being set up at LCCI will use the VOSS system which will become operational by October 2014 to provide facilitation in business registration procedures related to SECP, FBR and EOBI in one physical location.