Sri Lanka to modernise Registrar ofcompanies

The Sri Lankan Government is to modernise the Department of Registrar of Companies, introducing an electronic document management system to reduce the time for registration and filing of statutory information and to improve the data quality for both the government and the public.

Registrar of Companies D.K. Hettiarachchi told the Business Times that the department was looking forward to being efficient, having quality data and providing better customer service for its stakeholders. The electronic service will be online and there will be a dedicated call centre for customers.

He said that a new Oracle based, online powered software is being developed to upgrade the department’s automation system at cost of Rs 140 million and is now in its final stages of development. “The system testing is scheduled to commence in due course,” revealed Mr. Hettiarachchi. Once operational, the new, online system can handle the total company registration process through online payments and can also issue certified copies online by accepting international credit card payments. In strong signs of private sector expansion in the country, the Registrar has garnered more than Rs. 1.8 billion in its Company Fund in on-going operations and plans to go high tech using a part of this money.

He said 4846 new firms have been registered during January to August 2012 reaching over 60 per cent of the full year target along with Rs 47.7 million in revenue from all types of company registrations, he said. “We now have 55238 entities operating in Sri Lanka under the Registrar,” he added.