The Securities and Exchange Commission of Pakistan (SECP), being the apex regulator, is monitoring the stock market situation and deliberating reforms for enhancing liquidity and removing practical difficulties, sources said.
Newly appointed SECP Chairman Aamir Khan along with top officials is in Karachi on three-day visit to discuss the market situation with all stakeholders.
The commissioner (Securities Market) and senior officials of the SECP are holding extensive consultative sessions with all stakeholders of the capital market including the front line regulator Pakistan Stock Exchange (PSX), National Clearing Company of Pakistan Limited (NCCPL), Central Depository Company of Pakistan Limited (CDC), Mutual Funds, senior members and brokers during their visit to Karachi.
They have held various sessions of deliberation with all these stakeholders to review the current situation of the country''s stock market.
Sources told that proposals being deliberated are aimed at long term growth and vibrancy of capital markets, proactively managing systemic risk and ensuring market transparency.
During the meetings, they have reviewed the VAR based margining regime, in particular additional margins imposed over and above VAR based exposure margins and the liquidity margins in the Ready Market.
They also discussed issues considering uptick rule on blank sales in the Deliverable Futures Market and removal of practical difficulties concerning the use of F8 window in the Deliverable Futures Market.
The meetings also discussed allowing mutual funds to partially avail the borrowing limit currently allowed for redemption, only for investing in the market.
The SECP team led by Chairman Aamir Khan will be in Karachi on Wednesday to hold more meetings and deliberation sessions with stock market stakeholders.
The SECP spokesperson Musarrat Jabeen told Business Recorder that the Chairman SECP along with his team has held various meetings with all stakeholders to discuss the stock market situation.
She said all these meetings are a part of the consultative process and all the proposals discussed in these meetings would be deliberated at Commissioner level and decisions would be taken in the best interest of the capital market.