ISLAMABAD, March 10: The Executive Director of International Monetary Fund (IMF), Mr Abbas Mirakhor, during a visit to the Securities and Exchange Commission of Pakistan, here on Monday, stressed the need for further institutional strengthening of SECP.

Accompanied by the senior resident representative of the IMF in Pakistan, Mr Henri Ghesuulere, he had a detailed meeting with the chairman, SECP, Abdul Rehman Qureshi, commissioners and executive directors of the commission.

During the meeting, according to the SECP statement, Haroon Sharif, executive director, chairman’s secretariat, SECP, made a comprehensive presentation giving an operational overview of the commission as well as details of the reforms in the financial market and the corporate sector during the past three years.

The commission, he said, had emerged as a firm, efficient, effective and fair regulator of the securities market and corporate sector with a developmental focus, the IMF mission was informed.

Mr Mirakhor, while praising the efforts of the SECP towards bringing transparency and efficiency in the financial market, acknowledged that the commission had emerged as an independent and effective financial regulator.