The SECP has approved various documents submitted by the stock exchanges under  the  Stock Exchanges (Corporatization, Demutualization and Integration) Act, 2012. Promulgated on May 7, 2012, the Act provides  a framework for the corporatization, demutualization and integration of the stock exchanges . The demutualization  will bring the Pakistani capital market on a par with  other international jurisdictions,  result in enhanced governance and transparency at the stock exchanges  and will attract strategic investors which will not only provide equity and technical expertise but will also result in increased visibility of these exchanges on international capital market forums. The approved documents include revaluation of assets and liabilities of the stock exchanges, plans for the segregation of commercial and regulatory functions and memorandums and articles of association of the exchanges. The SECP has also approved the authorized and p...

A meeting of the Securities and Exchange Commission of Pakistan (SECP) headed by the Chairman, Commissioner and other senior officials of SECP was held with the Board of Directors, Management and senior members of the Karachi Stock Exchange. The meeting discussed important capital market development matters and measures for enhancing activity at the Exchange by supporting retail participation. The apex and front line regulators reviewed various international best practices for the overall growth of the market and deliberated upon areas of investor protection, expansion of market outreach, new product development in equity, debt and derivative segments, activation of leverage products for improved liquidity, effective risk management and market monitoring and surveillance etc. While highlighting recent reforms in the market including revamping of capital gain tax regime, introduction of revised Code of Corporate Governance and demutualization of stock exchanges, the SECP Ch...

By Aadil Mustafa Jillani I n ve s t m e n t is r e c o g n i z e d as t h e cri t ical t o o l f o r e c o n o m i c gr o w t h in d eve l o p i n g n a t i o n s w h ich cr e a t e s o pp o r t un i t i e s f o r t h e ir b et t e r t o m o r r ow . W e as n a t i o n are v e ry un f o r t un a t e t h at t h e h o p e s o f m as s e s f o r b ette r t om o rr o w d il u t e s b y e v e ry p assi n g d a y as n o t a si n gle s o c i o e c o no m ic r e f o rm is b e i n g i n t r o du c e d n e i t h e r b y F e d e ral n o r b y P r ov i n cial G o v t s du ri n g last f o u r y e ars. E c o n o m y o f P a k i s t an h as n e ve r b ee n i n a d iffic u lt si t u a t i o n as it is to d a y . T ra d e d e fic i t u p b y 3 7 % t o $ 1 9 b l n , C / A d e fic i t s ho o t u p t o $ 3 . 7 b l n , fiscal d e ficit i n cr e a s e d t o R s . 1 . 2 t rill i o n ex p e c te d t o t o u ch ...