With increasing usage of technology the companies have maintained their websites according to their own personal plans. A website of company is the virtual face of entities and is an effective tool for dissemination of required information to the public.
To some extent the companies are providing good data to customers but it is not that efficient.
The Security Exchange Commission of Pakistan (SECP), as a first step in this direction, issued a notification on July 10, 2014, requiring all public companies to maintain functional websites with effect from August 30, 2014, said a statement issued here by the commission.
The SECP has notified all Pakistani Companies (listed or non-listed) vide its SRO No 634(1)/2014 of July 10, 2014, to maintain functional websites having detailed information about the company, its objectives, governance structure, election of directors and financial position to benefit its members, potential investors, and the public.
The preferable format of compliance certificate has also been added to the guidelines. Powers to consider applications for relaxation and penalizing non-compliant companies have been delegated to the Commissioner (Company Law Division).
The SECP has been constantly asking Pakistani Companies to comply with these mandatory requirements, believing that this is a step towards aligning participants with global technological advances and the best international practices.
Definitely a good decision, it would make it easier for all the people to use. The more user friendly the website will be the more it will be attractive.