The Ministry of Finance has established a committee, comprising experts from the financial sector on November 15, 2023, to finalize the modalities for issuing and trading government securities on the Pakistan Stock Exchange (PSX). The Committee, led by the Chairman of the Securities and Exchange Commission of Pakistan (SECP), Akif Saeed, is tasked with developing the overall infrastructure, includingthe necessary systems and processes, ensuring operational efficiency, transparency, and readiness for the issuance, registration, trading, and transfer of government debt securities through PSX. The Committee will operate in a manner that instills investor confidence and addresses prevailing operational challenges. It will review and evaluate the operational capabilities of PSX, CDC, and NCCPL, along with the available infrastructure and trading systems for issuing, registering, and transferring government debt securities. Moreover, the Committee will collaborate with all stakeholders, including the Ministry of Finance, SBP, SECP, and PSX, to seamlessly integrate existing practices, ensuring market integrity and investor protection in trading Government Debt Securities (GDS) at PSX. Additionally, the Committee will develop proposals for the introduction of an efficient surveillance mechanism and risk management system, proposing necessary changes in the regulatory framework. https://shorturl.at/aqCI3
Source: IBP