Dr. Shamshad Akhtar, the Federal Minister for Finance, Revenue, and Economic Affairs, extended her unwavering support to Securities and Exchange Commission of Pakistan (SECP,s) initiatives aimed at establishing financial institutions backed private funds to serve as a catalyst for economic revival.
Dr. Shamshad Akhtar asked the fiscal and regulatory sides, including the Federal Board of Revenue, the State Bank of Pakistan, and the SECP, to extend complete support to the initiatives of seeking investments from local financial institutions, institutional investors, government DFIs, and corporate entities with the potential to attract foreign capital, said a press release issued here Saturday.
She was chairing the meeting held by the Securities and Exchange Commission of Pakistan (SECP) to discuss proposals for establishing financial institutions backed by private funds to serve as a catalyst for economic revival.
Dr. Shamshad suggested making efforts, particularly to attract climate and ESG-focused international institutional investors. She stressed the urgency of implementing these initiatives to signal Pakistan’s readiness for business and economic growth to the global market and foreign investors.
Chaired by, Dr. Shamshad Akhtar, the meeting brought together leaders from Commercial Banks and Development Finance Institutions (DFIs). Chairman SECP Akif Saeed welcomed participants at the meeting, while Commissioner Mujtaba Ahmad Lodhi discussed SECP’s commitment to creating an enabling regulatory environment and its active engagement with banks and DFIs.
Habib Bank Limited, representing a consortium of banks, proposed the establishment of a Climate Resilience (CR) Fund under the SECP Private Fund Regulations, 2015.—APP
