Karachi, January 17: The top management of the Securities and Exchange Commission of Pakistan (SECP), led by the Chairman, Mr. Akif Saeed, met with the Chairpersons and senior representatives of the Pakistan Stock Exchange (PSX), National Clearing Company of Pakistan Limited (NCCPL) and Pakistan Mercantile Exchange (PMEX) to discuss three-year strategic plans of the respective institutions for development of the capital market.
During the meeting with PSX, the senior management of the Exchange presented its strategic plan, focused on targets relating to effective governance, operational excellence, and market development. The need to develop new products, increase stock market investor base, and attract new IPOs was particularly emphasized by SECP Chairman.
In a subsequent meeting held with the NCCPL, SECP Chairman stressed the need for smooth transition to T+1 settlement cycle by the end of May 2025. Among other initiatives, the participants discussed the possibility to engage financial institutions for more active participation in capital market, reforms in margining regime and holding awareness sessions for greater market outreach.
The SECP management also met separately with the management of the PMEX to deliberate the strategic plan for the commodities market, with particular focus on the risk management regime, internal governance, warehousing infrastructure, and development of agricultural commodities futures and spot market.
The SECP Chairman, accompanied by the Commissioner and senior officials of the Specialized Companies Division, also convened a meeting with Mutual Funds Association of Pakistan (MUFAP). The meeting focused on role of the mutual funds industry in the capital market and recent regulatory reforms in the Non-Banking Finance Companies Regulations, 2008.
The deliberations will go a long way towards aligning the agenda with respective Capital Market Infrastructure Institutions, for sustainable development of capital market in Pakistan.
