SECP is determined to create a more competitive and efficient playing field for exchange-traded funds (ETFs) by addressing tax disparities, achieving tax credit, and allowing investments in ETF through Special Convertible Rupee Accounts (SCRA). SECP Chairman Aamir Khan said this while speaking at ETF’s gong ceremony at PSX.
Khan said that SECP is also taking measures to encourage more market makers to come up, increasing awareness for expanded outreach of ETFs and working to make ETFs available not just at Ready Counter, but at each and every counter including Futures, MTS, etc.
He said the successful launch of ETFs has confirmed the appetite in the market for new products. SECP is focused on encouraging new listings in the stock market, promoting capital formation, and facilitating ease of doing business
SEC Chairman revealed that another set of ETFs is under process, demonstrating that the market and investors are anticipating growth in the near term.
Khan expressed his confidence that with the growth of ETFs in the future, the idea of offering goals-based investment solutions will make further inroads in the financial services sector in Pakistan.