KARACHI, July 2: Securities and Exchange Commission of Pakistan chairman Dr Tariq Hassan said that the reform process had to be organic and was never final in any growing market.

He was inaugurating facilitative service for retail investors by Central Depository Company of Pakistan Limited (CDC). He commended the initiative of CDC to provide for convenience of retail investors.

Dr Hassan urged CDC, financial institutions, stock markets and brokerage houses to allow greater access to small investors through the development of remote trading terminal and internet trading/on-line trading facilities.

The SECP chairman identified areas that required immediate attention in order to further boost retail investors' confidence in the stock market and pave way for its development.

Earlier, Wahab Kodvavi, chairman, and Hanif Jhakura, CEO of CDC, explained that the facility being inaugurated was in fact an expansion of CDC's existing service, whereby investors would now not need to go through the brokers to deposit their physical shares and other securities in investors' account, rather they would be able to approach CDC directly.