Adviser to Prime Minister on Institutional Reforms and Austerity Dr Ishrat Husain paid a visit to the SECP headquarters here on Thursday and held meetings with the chairman and commissioners regarding ongoing policy reforms.
Dr Husain was briefed in detail on the reforms, digital transformation roadmap and organizational development initiatives being undertaken at SECP.
Appreciating the reform programme and result-oriented approach, Dr Husain stressed upon the need to carry on with the collaborative and consultative approach involving all stakeholders. He expressed optimism for more listings, particularly through issuance of corporate debt securities by large players and asked to build on the successful listings and invite companies being established in special economic zones under CPEC to meet funding needs through capital market. Appreciating the digital transformation efforts, he emphasized upon complete automation of internal and external processes to attain paperless environment by December 2021.
The adviser emphasized that the government’s interest and focus is on strengthening institutions responsible for economic governance and that SECP is a vital part of it. He added that SECP is one of the finest institutions that need to be strengthened considering its role as a regulator and as a facilitator.
He said that a combination of quality human resource and cutting-edge technology is critical to the success of all regulatory institutions, stating further that SECP should view itself as a broad-based regulator covering a large spectrum primarily hinged on its capital market.
Dr. Ishrat Husain also met recently hired Management Trainees, and shared key heuristics required to make an impact. He encouraged the new recruits to ensure absolute commitment, ownership, and hold highest standards of honesty and integrity to be problem solvers and to never compromise on ethical values.
SECP Chairman Aamir Khan in his closing remarks expressed his gratitude to Dr Husain for his gracious presence and for crucial support in making possible the first-ever issuance of sovereign sukuk of Power Holding listed at PSX, arrangement of funding with SBP for project LEAP, promotion of foreign investment in Pakistan and priceless support in achieving critical tax reforms.
The chairman added that SECP looks forward to his guidance and continuous support for legislative reforms initiated to modernize laws governing Insurance, NBFC, securities and futures market and companies, aligning tax policy and reforms for promotion of documentation and regulated businesses, and joint efforts promoting start-ups, SMEs, FinTech innovators etc.