SECP forms working group to reform corporate debt market

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has constituted a working group to propose reforms in the corporate debt market.

According to SECP, the group will submit recommendations to improve the debt market. It will be chaired by SECP Commissioner Muhammad Ali Farid Khawaja.

Members include representatives from the Ministry of Finance, banks, financial institutions, credit rating agencies and other market stakeholders.

SECP said the working group will review the regulatory framework for issuance of debt securities and sukuk. The aim of the reforms is to make the issuance process faster, simpler and less costly.

The group will also identify bottlenecks hindering debt market growth and propose practical measures to address them.

SECP Chairman Dr. Kabir Ahmed Sidhu said developing and stabilizing the corporate debt market is a key priority. He added that a strong debt market will provide long-term capital to both industry and the government.