ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has clarified that the guidelines on role and responsibilities of independent directors are under consideration of the Commission.

Reference to the news item published in Business Recorder dated on 6th April 2022, titled “Independent directors of companies barred”, the SECP would like to clarify that Guidelines on Role and Responsibilities of Independent Directors are under consideration of the Commission.

These guidelines yet not approved by the Commission. The SECP is deliberating with stakeholders to make the Guidelines more inclusive.

However, the SECP has issued two sets of guidelines to facilitate and standardize the role of officers of listed companies and use of technology during the general meetings of listed companies.

The guidelines on Role and Responsibilities of Independent Directors shall be notified following approval of the Commission, the SECP added.

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