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For business information, annual reports, laws, ordinances, regulations and articles. |
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ix
ADMINISTRATION, HUMAN RESOURCE DEVELOPMENT AND SUPPORT SERVICES
Support Services Division (SSD)
is responsible for provision of efficient support services to the entire Commission
including:
q Matters relating to finance and accounts;
q Handling of all legal matters relating to corporate laws being administered by the
Commission, dealing with court cases, and providing legal advice to the Commission;
q Development of human resource, training of employees and appropriate recruitment rules
for the induction of staff;
q Administrative matters relating to the security of the Commission’s property,
handling of the upkeep of the office premises and all other managerial issues; and
q Computerization, automation of the system and all matters relating to information
technology.
q SSD has been organized into five Wings, namely:-
q Finance and Accounts
q Administration
q Legal
q Human Resource
q Information Technology
During the period under report, the Commission has been endeavouring for the establishment
of its organizational set up and framing of rules, regulations and procedures. SSD has
been able to undertake the following assignments which were necessary for the
operationalization of the Commission:- 1
q A separate Finance and Accounts Wing was established on 1st July 1999, the date when the
Commission became autonomous in terms of financing.
q A standing operating procedure with regard to expenditure, revenue, imprest, accounting
system for CROs and procurement of fixed assets was prepared.
q A formal Financial and Accounting Manual was prepared with the help of consultants
appointed by ADB. The pay roll of the employees was computerized which worked successfully
during the period.
q Accounting records were maintained according to the prescribed procedure.
q Habib Bank was nominated as a banker of the Commission and 18 collection accounts and 9
checking accounting were opened with its branches at various stations.
q Internal audit was introduced and a separate Pre-audit Department was established.
q Consequent upon the above arrangements, Finance and Accounts Wing was able to reconcile
its receipts and get its accounts audited within the statutory period.
q SSD is at present engaged in revamping the system for administration of human resource,
establishment of a separate legal department as well as a department of information
technology.
STAFFING
Section 43 of the Act empowers the Commission to determine suitability of officers and
staff working in the Authority for appointment in the Commission. Such employees were not
granted any right or lien to appointment on any post in the Commission. Pursuant to these
statutory provisions, the Commission carried out an exercise to determine the suitability
of the employees of the Authority and after careful consideration decided to release 21
officers working in BS-17 to BS-21 and 59 other staff members. On the basis of the
qualifications and experience prescribed under the Corporate Plan, the Commission has so
far inducted 39 new officers upgrading the professional expertise of the Commission and
improving its ability to discharge its responsibilities.
COMPUTERIZATION
Computerization was originally introduced in the organization (then the Authority) in
early 1992, with the objective of facilitating name search of companies and to keep a
database of companies incorporated under the Companies Ordinance, 1984. Over the years,
the need was felt to expand and enhance the programme in order to improve operational
capability and also to keep pace with similar organizations in the region.
Presently, the company database system is being used in the Commission at its Headquarters
and in the CROs. The database contains some basic information about all registered
companies. The existing system, however, is not efficient and up-to-date and CROs are not
electronically linked to headquarters. Record creation for new companies is centralized at
the head office, whereas subsequent changes to the company records are done at their
respective CROs and then replicated at all branches.
A database containing annual and half-yearly accounts of public-listed companies is being
maintained at headquarters. This database system is being used to generate various reports
such as non-payment of dividends by listed companies. At present, there are about 754
listed companies, and the database contains accounting data of these companies for the
last two years.
The Commission is cognizant of the present problems faced by it in its monitoring
procedures, the inherent delay in manual handling of all matters, problems faced by the
public in getting quick and timely service from the Commission and the lack of an
electronic communication system with the stock exchanges and CROs. The Commission is
taking steps to address such problems through a carefully designed automation programme.
It is also proposed to provide on a fast track basis, certain basic functions, such as:-
q Availability of new names.
q Registration of new companies.
q Registration of mortgages/charges.
q Inspection of documents.
q Copies of documents.
q Filing of documents
These reforms are expected to bring marked improvements both in the quality and speed of
service to the corporate sector.
Software is being developed to enable monitoring of the three stock exchanges on real time
basis. Unusual features in trading would be picked up and examined for timely corrective
measures.
The Commission’s Headquarters and CROs are being connected through WAN. Databases are
being developed for use by all regional offices. Updating of data would be facilitated by
a properly designed communication system. Internal correspondence and circulars would also
be handled electronically by way of e-mails and intranet facilities.
