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ISLAMABAD, Jan 28 (APP):Dr. Kabir Ahmed Sidhu formally assumed charge as Chairman of the Securities and Exchange Commission of Pakistan (SECP) here on Wednesday.
His appointment marks the beginning of a reform-driven agenda aligned with the Prime Minister’s Economic Governance Reforms, with a focus on strengthening Pakistan’s capital markets, improving the ease of doing business, and deepening financial inclusion, said SECP press release.
Prior to his appointment, Dr. Sidhu resigned from the position of Chairman of the Competition Commission of Pakistan (CCP). The federal cabinet accepted his resignation on January 27.
Upon assuming office, Dr. Sidhu outlined a clear vision focused on building a fair, transparent, and inclusive financial market that canalized savings into investments, supports innovation, and sustainable economic growth.
He emphasized that SECP will prioritize reducing the cost of doing business by simplifying regulations, streamlining procedures, and accelerating digital transformation across the corporate and financial regulatory framework.
Dr. Sidhu highlighted capital market are steam engine of economic growth, adding he would focus on broadening the investor base, encouraging new listings, and introducing diversified financial products with enabling legal and regulatory framework, derivatives, REITs, green bonds, and fractional investment options.
These measures aim to enhance market depth, liquidity, and investor confidence while aligning Pakistan’s markets with global best practices.
A major thrust of the new Chairman’s strategy is the promotion and revival of the Non-Banking Financial Companies (NBFC) sector. Dr. Sidhu underscored the importance of leasing companies, digital lending, mortgage finance, housing finance, and peer-to-peer platforms in expanding credit access, particularly for SMEs, first-time borrowers, and underserved segments of the economy.
SECP will work towards enabling a more supportive regulatory environment to unlock the sector’s growth potential.
The insurance sector will receive special attention under Dr. Sidhu’s leadership. He reiterated SECP’s commitment to increasing insurance penetration through digital micro-insurance, Takaful, parametric climate insurance, and greater transparency in policy offerings and claims management. These reforms aim to extend insurance coverage to the informal sector and enhance consumer protection while strengthening the overall resilience of the economy.
Dr. Sidhu also emphasized further advancing SECP’s digital transformation journey under the LEAP project. He stated that the licensing regime will be fully digitized, supported by a smart compliance system to simplify regulatory requirements, reduce compliance costs, and shorten turnaround times for businesses.
These initiatives are expected to enhance regulatory efficiency and make Pakistan a more attractive destination for investment.