ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) in collaboration with the US Commodity Futures Trading Commission (CFTC) commenced the second training session on the development of the Commodity Futures Market, in Islamabad.

Akif Saeed, Chairman SECP, underscored the vital role that the agricultural commodities market play in Pakistan’s economy. He highlighted the key initiatives taken by the SECP, including ongoing consultations with stakeholders aimed at advancing the development of a robust commodities derivatives market.

The chairman SECP further stressed the importance of collective efforts from all stakeholders to create a well-functioning commodities futures market in Pakistan. He praised Kevin Piccoli, Deputy Director at US CFTC for his invaluable support in facilitating the collaboration with US CFTC, for advancing the commodities market in Pakistan.

Dr Akmal Siddiq, Advisor for Ministry of National Food Security and Research, commended the SECP for organising the capacity-building programme, which focuses on market development, regulation, and strengthening the commodity futures market.

He also commended US CFTC for providing valuable technical assistance to Pakistan and expressed his gratitude to Kevin for his support and leading the capacity building initiative.

Copyright Business Recorder, 2024