The Securities and Exchange Commission of Pakistan (SECP), according to its mandate to promote the conduct for corporate rehabilitation, reaffirmed its commitment to a strong organization for disturbing institutions in Pakistan.
Mr. Muzaffar Ahmed Mirza, Commissioner of the Licensing and Registration Division, met with the Chief Executive Officers of the Pakistan Corporate Organization Reconstruction Company Limited (PCRCL) and the Oval Corporate Organization Limited (ARCL).
During these talks, the Commissioner assured full regulatory support of the SECP for the Corporate Organization (CRCS). He emphasized the need for CRC to increase their access to industry stakeholders and play an active role in facilitating business recovery.
In a separate meeting with the Secretary of the Pakistan Bank Association (PBA), the Commissioner highlighted the importance of harmony between the CRC, commercial banks, and development finance institutions (DFI).
Discussions that focus on the establishment of an effective mechanism for non -performing loan reorganization have enabled a framework that enables sustainable business maintenance and the stability of the financial sector.
These engagements demonstrate the ongoing commitment to the SECP to advance the effective corporate rehabilitation system in Pakistan. The move is aimed at restoring troubled businesses, protecting the interests of stakeholders, and aid in wider economic flexibility.