The Securities and Exchange Commission of Pakistan (SECP) in collaboration with the Institute of Cost and Management Accountants of Pakistan (ICMAP) has held roundtable conference on the draft Licencing and Corporate Governance Regulations for Associations Not-for-Profit.
The conference attended by stakeholders was aimed at seeking their feedback and suggestions. The Commission issued draft Associations Not-for-Profit (Licencing and Corporate Governance) Regulations, 2013 on April 9 to elicit public opinion and the conference was part of the in-depth interaction of the SECP with the stakeholders. The roundtable drew a good turnout, including representatives of corporate NGOs, accountants, lawyers and consultants.
The participants appreciated the efforts of the SECP and ICMAP in developing better regulatory environment and addressing issues confronting regulation of the NGOs sector. Speaking at the occasion, Nazir Ahmed Shaheen, Executive Director of the SECP, expressed his desire to develop a regulatory regime in Pakistan which shall be supportive to the corporate NGOs in enhancing their credibility and public trust while it shall ensure transparency, accountability and good governance.
The active participation and feedback of the participants shall help in finalising the proposed regulations and betterment of the NGO sector in Pakistan. The SECP also intends to hold such round tables in Karachi and Islamabad, he said. Zia-ul-Mustafa Awan, President, Institute of Cost and Management Accountants of Pakistan (ICMAP) while speaking on the occasion reiterated the ICMAP's commitment to continue its valuable contribution as already extended from time to time in the development of better corporate regulatory environment in the country.
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