SECP forms committee to fix stock market

The Securities and Exchange Commission of Pakistan (SECP), in consultation with the relevant stakeholders, has decided to constitute a committee comprising senior market professionals/stakeholders to review the current stock market situation and provide meaningful recommendations that could address the woes of market participants.

According to a notification issued by the commission on Friday, the 11-member committee would be convened by Najam Ali.

The committee has been tasked to recommend measures to enhance liquidity and remove hurdles, if any, towards active trading at the Pakistan Stock Exchange.

It has also been asked to identify the issues being encountered in the deliverable future contracts, analyse the effects of recent reforms and provide recommendations to address any genuine concern or practical difficulty identified.

The committee would also identify regulatory requirements which may be hampering the growth of the market or creating unnecessary burdens and provide suggestions for further reforms.

“The committee may form sub-committees or invite participation from financial institutions and small brokerage houses, including Lahore and Islamabad-based brokers, while formulating its recommendations. The committee shall submit its report to the SECP within 20 days from this notification,” the SECP concluded.