The federal government has established a high-level committee to introduce reforms in the Securities and Exchange Commission of Pakistan (SECP), aiming to enhance its authority and clear around 2,000 pending corporate cases.
The committee held its first meeting under the chairmanship of Federal Law Minister Azam Nazeer Tarar, where discussions focused on strengthening SECP’s enforcement framework and improving its overall effectiveness.
SECP Chairman Dr. Kabir Sidhu informed the participants that more than 2,000 cases are currently pending in courts. He stressed the urgent need for reforms to ensure timely resolution of these cases and improve the recovery of fines.
He also proposed the establishment of special tribunals dedicated to handling SECP-related cases, along with the digitalization of the regulatory framework to curb corporate fraud and streamline processes.
During the meeting, the law minister emphasized that necessary legislation would be introduced to fully empower SECP. He further directed the commission to provide complete data on pending cases and present a comprehensive reform plan at the next committee meeting.
