ISLAMABAD - The Senate Standing Committee on Finance Revenue and Economic Affairs on Wednesday directed the Securities and Exchange Commission of Pakistan (SECP) to present detailed report on its performance, role and responsibilities in next committee meeting.

The Senate body, which met under the chair of its chairperson Senator Nasreen Jalil, has discussed the performance of SECP. The officials briefed the committee that performance of SECP is improving and recently it becomes a member of International Organisation of Securities Commissions (IOSCO) and has been recently selected as the member its board.

They informed that this was for the first time in the history that the SECP was selected member of a decision-making board at an international forum.

The Committee was also informed that commission has proper system of auditing the companies.

The Committee was informed that Commission’s role is to develop a modern and efficient corporate sector and a capital market based on sound regulatory principles, in order to foster economic growth and prosperity.