ISLAMABAD: Chairman of the Securities and Exchange Commission of Pakistan (SECP) Aamir Khan on Monday reiterated the regulator’s commitment to outcome-based regulation by reducing regulatory burden, simplification of laws and optimal use of technology.
Addressing a virtual session with the representatives of the Pakistan Business Council (PBC) led by its CEO Ehsan Malik, Mr Khan briefed participants about key reforms undertaken by the SECP to promote ease of doing business, enhance access to finance, development of the capital market and improve transparency in the commission’s regulatory functions as well as the regulated sectors.
To facilitate the corporate sector and ensure desired efficiency in processes, a number of reforms have been undertaken including digital certificate of incorporation, creation of a special portal for banks to facilitate account opening, digitisation of account opening process for residents and non-residents for investment in the capital market etc.
The SECP chairman also highlighted a number of targeted measures implemented for reducing cost of doing business and supporting companies in the wake of Covid-19. He said that simplification of Buy Back Regulations, amendments in Further Issue of Shares Regulations, revamping of Private Funds Regulation and the NBFC Regulations would facilitate business growth.
While apprising the participants about SECP’s roadmap, he said the introduction of electronically signed Certified True Copies, replacing eServices with a modern registry, simplification and consolidation legal framework of statutory returns, and growth of capital market were key focus areas for current financial year.
Published in Dawn, March 30th, 2021*
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