Capital market uplift plan being prepared

Company and takeover will also be revamped.

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) is drawing a strategic plan for capital markets covering consolidation of markets and development of debt and derivative markets as well as for non-banking finance companies (NBFCs) and insurance firms, says the regulator’s chairman.

For reforming the regulatory framework, the SECP is also in the process of revamping company law and takeover law and to foster corporatisation, it was in dialogue with tax authorities to reform the tax system, he said.

Chairman Muhammad Ali was speaking at the third session of SECP’s financial markets and corporate sector development forum held in Karachi and attended by market experts, industrialists and policymakers. It was aimed at exploring ways for the development of fair, transparent and efficient financial markets and a vibrant corporate sector.

Complementing the market development aspects, a comprehensive investor education plan will also be launched soon to expand outreach and create awareness of investment opportunities among investors.

The forum discussed various issues that hampered the growth and development of the markets and corporate sector and resulted in fragmentation in the markets.

Published in The Express Tribune, October 12^th, 2011.