ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) finalized the framework for its three year strategic objectives besides setting annual targets for the upcoming fiscal year 2011-12, on Saturday.
The SECP had organized a three-day off-site program to frame its strategic objectives, set annual targets for the commission and its departments, outline values and competencies and revisit its vision and mission statements.
"The theme for the way forward agreed by the senior management of SECP is accountability, teamwork, target driven approach and to lead by example," said a statement of the commission.
The strategic plan and yearly targets determined by the top management will focus on the development of the capital markets and corporate sector, it added.
The annual targets will serve as milestones for the organized growth and development of the markets while addressing issues faced by the market intermediaries and participants.
The annual targets for 2011 broadly focus on measures for increasing market depth, liquidity and outreach, development of a vibrant debt and commodities market, promote growth of the insurance and corporate sector and growth of mutual fund industry.
While following efficient and fair regulatory practices, the SECP would put in place processes and policies to inculcate improved compliance culture and effective enforcement.
Measures have been planned to amend existing and frame new legislations for introduction of new products, strengthening of capital base market of intermediaries and encourage new listings.
The SECP aims to strengthen processes, capabilities and IT & Communications systems, both internally and externally to improve efficiency and reduce turnaround time.
The SECP will introduce various measures in close consultation with the stakeholders concerned, to ensure effective implementation of the plan and targets.
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