ISLAMABAD: The Securities Exchange Commission of Pakistan (SECP) has been directed to draft necessary regulation for setting up the ‘Real Estate Regularity Authority’ (RERA) to standardise the real estate sector at par with modern jurisdiction.

Finance Minister Ishaq Dar issued the directives during a presentation made to him by the acting SECP Chairman Tahir Mehmood at the Finance Ministry here on Monday.

By setting up RERA, the government aims to promote and regulate the real estate sector and protect the interests of investors. RERA is already functioning in a number of countries including India, where it was launched recently and in the UAE, where such an authority is functioning since 2007.

The finance minister said the government was keen on developing the secondary debt market with particular focus on the retail segment.

“Trading of government securities at the stock exchanges of Pakistan will encourage participation of small and private investors. The increase in depth of secondary debt market will also contribute in the development of secondary corporate debt market,” he added.

Mr Dar said that a vibrant secondary debt market will pave the way for development of primary debt market and channelising the savings of small investors to the government schemes through the stock exchanges.

“Although the government securities are being actively traded in over the counter (OTC) market, the same is not visible at a single platform. The availability of trading data at a single platform will increase the visibility of secondary debt market, thereby encouraging foreign investment,” he explained.

Opinion

Hoping for miracles
Updated 26 Sep 2021

Hoping for miracles

Pakistan will be exposed to international recrimination if the Taliban revert to their old ways.

Editorial

Updated 26 Sep 2021

Intransigent Taliban

PRIME MINISTER Imran Khan has delivered an effective speech at the UN General Assembly session detailing the salient...
26 Sep 2021

Deadly misinformation

THE distinction between ‘fake’ and ‘authentic’ news is now a concept impossible to escape. In an...
26 Sep 2021

Covid arrests

THE unilateral decision taken by Karachi’s East Zone police to arrest citizens without Covid vaccination cards ...
25 Sep 2021

NAB controversy

THE completion of the four-year term of NAB chairman Javed Iqbal early next month has afforded Prime Minister Imran...
Cabinet ‘inclusivity’
Updated 25 Sep 2021

Cabinet ‘inclusivity’

Voices are being raised questioning when the much-hyped inclusivity the group had talked about will materialise.
25 Sep 2021

Quorum malady

LACK of quorum has become a chronic problem for the present National Assembly which is in the process of becoming a...