SECP determines for creating more competitive, efficient playing field to ETFs

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ISLAMABAD (News Desk) – The Security and Exchange Commission of Pakistan (SECP) is determined for creating a more competitive and efficient playing field to ETFs through addressing tax disparities, achieving tax credit and working allowing investments in ETF through Special Convertible Rupee Accounts (SCRA).

According to a statement issued on Tuesday, SECP Chairman Aamir Khan was speaking at ETF- Gong Ceremony at PSX.

Khan said that SECP is also taking measures to encourage more market makers to come up, increasing awareness for expanded outreach of ETFs and working to make ETFs available not just at Ready Counter, but at each and every counter including Futures, MTS etc.

He said the successful launch of ETFs has confirmed the appetite in market for new products.

SECP focused at encouraging new listings in the stock market, promoting capital formation and facilitating ease of doing businessSECP Chairman revealed that another set of ETFs is under process, demonstrating that the market and investors are anticipating growth over the near term.

Khan expressed his confidence that with the growth of ETFs in future, the idea of offering goals-based investment solutions will make further inroads in the financial services sector in Pakistan.

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