SECP frames three-year 'Strategic Objectives', sets targets for 2011-12

The Securities and Exchange Commission of Pakistan (SECP) organised a three-day off-site program to frame its three-year 'Strategic Objectives', set annual targets for the year 2011-12 for the Commission and every department, outline values and competencies and revisit its vision and mission statements.
The theme for the way forward, agreed by the senior management of SECP, will be: accountability, teamwork, target driven approach and to lead by example.
The strategic plan and yearly targets, determined by the top management, will focus on the development of the capital markets and corporate sector. The annual targets will serve as milestones for organised 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 shall put in place processes and policies to inculcate improved compliance culture and effective enforcement.
Measures have been planned to amend existing and frame new legislation's for introduction of new products, strengthening of capital base market 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.-PR