Pakistan News

Chairman SECP Reiterates The Commission’s Commitment Towards upgrading Ease of Doing Business

SECP , The Securities and Exchange Commission of Pakistan is keen to accommodate international companies through liberalization of stringent restrictions.

The SECP has provided assistance to the international corporate sector in providing ease of starting and doing business and help the existing and prospective international companies to expand their investment portfolios in Pakistan.

The SECP is determined to create a conducive environment for the corporate sector to thrive and provide a level playing field to all stakeholders, especially the international investors.

Chairman expressed his views while discussing the issues in corporate governance held by the CEOs of multinational companies who had gathered under the platform of Overseas Investors Chambers of Commerce and Industry . The event was hosted by Nestle Pakistan to complement the role of SECP in promoting the international businesses.

The Chairman said that the enhanced checks and systematic changes to bring transparency to Pakistan Stock Exchange  and brokerage firms has restored the confidence of investors, making Pakistan a potential attraction for local and also for foreign investors.

The Pakistani capital mark is geared to support the capital needs of the industry and shortly PSX will introduce new products to meet the needs of the corporate sector, which has been highly dependent on lending by banks.

He further expressed satisfaction that the top leadership of the PTI has, for the first time, given due importance to the issue of providing ease of doing international business and put it high on its agenda, which augurs well for the economic development of  pakistan.

He further said that the economic woes of the country cannot be addressed without creating a conducive environment for attracting foreign investment.

The Chairman reiterated the SECP’s resolve to create a conducive environment for the corporate sector to thrive and provide level playing field to all stakeholders.

He expressed his utmost gratitude to international business leaders, who are the main stakeholders of the economy and without their cooperation and support, no matter how well-intentioned, will bear fruit.

Recently the SECP has taken a number of steps to provide ease of starting and doing business in Pakistan, such as considerably reducing the incorporation time of companies, integration of the system with the FBR and the government of Punjab etc..

The Chairman lauded the efforts of OICCI as being the oldest and largest investment chamber having a diverse membership in terms of sector . He invited OICCI to collaborate with the SECP and play its due role in creating a more conducive environment for foreign investment and the effectiveness of corporate governance in the country.

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