November 9, 2001	Friday	Shaba’an 22, 1422

LAHORE, Nov 8: The Securities and Exchange Commission of Pakistan is trying to promote a new corporate culture in the country based on the principles of firmness, fairness and friendliness in all its dealings with the industry and people.

This was stated by the SECP chairman, Khalid Mirza, while speaking at a seminar on ‘The role of the SECP’ organized by the Institute of Chartered Accountants of Pakistan here on Thursday.

He said the SECP was founded for developing a legal framework and an effective regulatory system which could cope with rapid expansion in the capital markets of the country in the wake of policies of liberalization of the 1990s. He said the SECP was trying to improve the regulatory environment in the country by engaging in an ongoing dialogue with the industry and reviewing the existing rules and regulations to make them more comprehensive, meaningful and conducive to growth.

Mirza said to enhance the SECP’s in-house capacity, certain measures had been adopted which included induction of professionals, improved operating procedures, introduction of information technology and training of staff. Particular emphasis was being laid on developing a new corporate culture within the SECP.