A Memorandum of Understanding (MoU) was signed by the Securities and Exchange Commission of Pakistan (SECP) and the Pakistan Telecommunication Authority (PTA) to formalize the procedures for information exchange and collaboration between the two regulatory bodies.
At a ceremony conducted at the SECP Head Office in Islamabad, Director General PTA Muddasir Naveed, and Executive Director SECP Khalida Habib signed the Memorandum of Understanding. Senior officers from both organizations were present, along with Chairman PTA Maj Gen (R) Hafeez Ur Rehman, Chairman SECP Akif Saeed, Commissioner SECP Mujtaba Ahmed Lodhi, Member Compliance and Enforcement PTA Dr. Khawar Siddique Khokhar.
A wide range of initiatives and goals are covered by the Memorandum of Understanding (MoU), including the realization of a digital society to support the Government of Pakistan’s “Vision 2025,” e-Governance initiatives, information exchange, the UN Sustainable Development Goals (SDGs) – ICTs as contributors or enablers to achieve respective targets, policy, and regulatory input on areas of common interest, business process efficiency, cybersecurity, data management, and capacity building, among o
Speaking at the event, PTA Chairman Maj Gen (R) Hafeez Ur Rehman stressed how both organizations have the ability to use their combined resources to improve Pakistan’s digital environment. He emphasized PTA’s fruitful cross-sector partnerships with several governmental organizations and private entities.
Chairman of the SECP, Akif Saeed, praised PTA’s initiative in building a secure digital environment in the nation and expressed gratitude to PTA for helping to spread the word about illicit lending applications. In order to improve overall cyber security measures, he also emphasized the necessity of cooperative efforts by all regulatory organizations and the value of raising awareness.
Speaking at the function, Member C&E PTA stated that the two organizations’ goals are to work together to foster innovation, improve public service delivery, and cooperatively tackle shared issues while seeing chances for cooperative projects.
Commissioner Mujtaba Ahmed Lodhi of SECP thanked the attendees and said that PTA’s collaboration with SECP in promoting ethical lending practices through the recently introduced SMS and ring-back tone service was very appreciated.
PTA and SECP both reaffirmed their strong resolve to meet often and work together on any issue of shared interest.