ISLAMABAD, Sept 20: Securities and Exchange Commission of Pakistan here on Friday signed a Memorandum of Understanding with the United Nations Development Programme (UNDP) and Economic Affairs Division (EAD). The MoU is aimed at developing principles of good corporate governance.

Under the MoU, according to an official source, the UNDP will provide $100,000 in the shape of technical and financial assistance to the SEC in this regard.

The UNDP project of one-year duration will allow the SEC to seek participation of various stakeholders and professionals in effective enforcement of the Code of Corporate Governance and explore its applicability to state-owned entities and non-listed companies.

The SEC would also initiate consultations with other emerging markets to assess international best practices.