According to a notification issued by the SECP on Friday, the committee comprises senior market professionals including Najam Ali (Convener), Ali Ansari, Ali Sultan, Badiuddin Akbar, Farid Alam, Kamran Nasir, Mohammad Sohail, Muhammad Lukman, Shahid Ali Habib, Rafique Umer and Yasir Qadri as members.
The committee will review the existing stock market conditions, including trading volumes and recommend measures to enhance liquidity and remove hurdles if any towards active trading. The committee will identify the issues being encountered in the deliverable futures contracts, analyze effect of recent reforms and provide recommendations to address any genuine concerns or practical difficulties identified. The committee will also identify regulatory requirements which may be hampering the growth of market or creating unnecessary burdens and provide suggestions for reform and measures and any other suggestion as the committee may deem appropriate.
The committee may form sub-committees or invite participation from financial institutions and small brokerage houses, including Lahore and Islamabad based brokers, while formulating its recommendations. The committee will submit its recommendations/report to the SECP within 20 days from the issuance of this notification.