CONFERENCE ON BUILDING A RESILIENT PUBLIC FINANCIAL MANAGEMENT ECOSYSTEM: Messages from Akif Saeed Chairman, Securities and Exchange Commission of Pakistan (SECP)

TEXT: I extend my sincere commendation to the Institute of Chartered Accountants of Pakistan (ICAP) and the Chartered Institute of Public Finance and Accountancy (CIPFA) for convening this landmark conference on "Building a Resilient Public Financial Management Ecosystem." This timely initiative underscores a shared commitment to fostering transparency, accountability and sustainability within Pakistan's capital markets.

The theme of this conference holds profound relevance in the current economic context of Pakistan and closely aligns with SECP's vision of progressive regulatory environment that facilitates economic growth and upholds the highest standards of governance and ethical conduct. Our regulatory modernization agenda, driven by digital transformation, has enabled us to enhance the ease of doing business and reduce the compliance burden for stakeholders.

State-Owned Enterprises (SOEs) are pivotal to the economy, governance and public service delivery, making their reform essential for sustainable growth. SECP continues to support Government of Pakistan to strengthen SOE reforms aimed at enhancing transparency, accountability and operational efficiency in this sector. I am pleased to note that the conference has devoted specific attention to this important area, thereby contributing to the broader dialogue on strengthening public sector governance and financial management.

Further, in alignment with global developments, SECP is also committed to the adoption of IFRS Sustainability Disclosure Standards (S1 and S2), which will serve as a catalyst in embedding environmental, social, and governance (ESG) considerations into corporate decision-making. I take this opportunity to acknowledge ICAP's critical role in this transition - particularly its efforts in promoting sustainability reporting and enhancing audit quality through assurance frameworks.

ICAP has long been a valued partner in SECP's reform journey and we look forward to continuing our collaboration to strengthen Pakistan's capital markets and align them with global standards of transparency and good governance.