Regulatory impediments to be removed

KARACHI: Securities and Exchange Commission of Pakistan (SECP) Chairman Farrukh Sabzwari has initiated dialogue with the leaders of business associations to have their perspective on the practical impediments faced by the corporate sector in implementing the Companies Act, 2017, a statement said on Wednesday.

Sabzwari, along with his senior officials, met separately with the representatives of the Pakistan Business Council (PBC), American Business Council of Pakistan (ABCP) and Overseas Investors Chamber of Commerce and Industry (OICCI).

The SECP Policy Board and the commission unanimously agree on the need for creating a far less onerous regulatory environment, it added.

The consultative meetings with the leaders of the corporate world were aimed at identifying systematic bottlenecks and regulatory anomalies that stakeholders feel are an impediment to the ease of doing business.

The SECP chairman also took this opportunity to exchange views on issues related to the capital markets, Islamic finance, SME and insurance sector, the statement said.

“The SECP has a lot of work cut out for it - encouraging new listings, introducing new products across asset classes, increasing the investor base plus creating an enabling environment for more startups to prosper are high on the commission’s list,” Sabzwari said.