Business Registration Increases By 17% In Provincial Capital

Sumaira FH Published October 22, 2019 | 11:33 PM

Punjab Information Technology Board's (PITB) developed Business Registration Portal (business.punjab.gov.pk) in collaboration with Industries Department has registered 18,513 businesses since its launch in 2018.

LAHORE, (UrduPoint / Pakistan Point News - 22nd Oct, 2019 ) :Punjab Information Technology board's (PITB) developed Business Registration Portal (business.punjab.gov.pk) in collaboration with Industries Department has registered 18,513 businesses since its launch in 2018.

According to PITB spokesperson, the portal reveals growing trend of business registrations.

According to statistics, the number of businesses registered in first quarter of 2019-20 were 2,493 as compared to 2,131 in Q1 of 2018-19, showing a massive 17 percent increase for this year.

He added that there were 10,858 partnership firm registrations with Industries department, 1,911 registrations with Punjab Employees Social Security Institutions (PESSI) and 5,744 shops and establishment registrations with Labour Department, setting new paradigm.

Business Registration Portal was a practical translation of Government's 'Ease of Doing Business' plan, he added.

The Portal's integration with Securities & Exchange Commission of Pakistan (SECP) in the Federal, Industries Department, Labour Department, PESSI and Excise & Taxation at the provincial level makes it effective in time & cost saving and providing ease in business registrations.

He said, after the pilot project in the provincial capital, it was now being extended to other districts of Punjab.