The leaderships of the Securities and Exchange Commission of Pakistan (SECP), Pakistan Stock Exchange (PSX), National Clearing Company of Pakistan Limited (NCCPL) and Pakistan Mercantile Exchange (PMEX) on Friday discussed the three-year strategic plans of their respective institutions for development of the capital market.
Led by Chairman Akif Saeed, the SECP presented its plan to the PSX, focusing on targets relating to effective governance, operational excellence, and market development. Saeed particularly emphasized the need to develop new products, increase stock market investor base, and attract new IPOs.
In a similar meeting with the NCCPL, the SECP chairman stressed on the need for a smooth transition to T+1 settlement cycle by the end of May 2025. The participants, per a statement, also discussed the potential to engage financial institutions for active participation in capital market; reforms in margining regime; and holding awareness sessions for greater market outreach.
The SECP management also separately met with the management of the PMEX to deliberate on strategic plans for the commodities market, with particular focus on the risk management regime, internal governance, warehousing infrastructure, and development of agricultural commodities futures and spot market.
Additionally, the SECP chairman and the commissioner and senior officials of the Specialized Companies Division met with the Mutual Funds Association of Pakistan (MUFAP). During the meeting, discussions primarily dealt with the role of the mutual funds industry in the capital market and recent regulatory reforms in the Non-Banking Finance Companies Regulations, 2008.
In a statement, the SECP said the meetings would ensure alignment of its agenda with respective capital market infrastructure institutions for sustainable development of the capital market in Pakistan.