The Securities and Exchange Commission of Pakistan (SECP) has made a committee of senior market professionals/stakeholders to review the current situation in the stock market.
The committee has been set up to provide recommendations for increasing liquidity, promoting ease of doing business and addressing practical difficulties being faced by the stock market participants.
According to a notification issued by the SECP on Friday, the committee comprises senior market professionals including Najam Ali (Convener), Ali Ansari, Ali Sultan, Badiuddin Akbar, Farid Alam, Kamran Nasir, Mohammad Sohail, Muhammad Lukman, Shahid Ali Habib, Rafique Umer, and Yasir Qadri.
They will review the existing stock market conditions, including trading volumes and recommend measures to enhance liquidity and remove hurdles, if any, towards active trading. The committee will identify the issues being encountered in the deliverable futures contracts, analyze the effects of recent reforms and provide recommendations to address any concerns or practical difficulties identified.
It will also identify regulatory requirements which may be hampering the growth of the market or creating unnecessary burdens and provide suggestions for reform and any other suggestion as the committee may deem appropriate.
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 will submit its recommendations/report to the SECP within 20 days from the issuance of this notification.