PTA, SECP Sign MoU To Promote Mutual Cooperation
Pakistan Telecommunication Authority (PTA) and the Securities and Exchange Commission of Pakistan (SECP) signed a Memorandum of Understanding (MoU) to formalise mechanisms for information sharing and cooperation between both regulators
ISLAMABAD, (UrduPoint / Pakistan Point News – 11th Oct, 2023) Pakistan Telecommunication Authority (PTA) and the Securities and Exchange Commission of Pakistan (SECP) signed a Memorandum of Understanding (MoU) to formalise mechanisms for information sharing and cooperation between both regulators.
The MoU was signed by Director General PTA, Muddasir Naveed, and Executive Director SECP, Khalida Habib, at a ceremony held here, according to a press release issued here. 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; and senior officers from both organisations were in attendance.
The objective of the MoU is to establish a framework for bilateral cooperation between the PTA and SECP in various areas of mutual interest, encompassing a wide spectrum of initiatives and objectives, including the realisation of a digital society to contribute towards the Government of Pakistan’s “Vision 2025”; e-government initiatives; the exchange of information; the UN Sustainable Development Goals (SDGs)—ICTs as contributors and enablers to achieve respective targets; policy and regulatory input on areas of common interest, such as business process efficiency, cybersecurity, data management, capacity building, etc.
Chairman PTA, Maj Gen (R) Hafeez Ur Rehman, speaking at the occasion, emphasised the potential for both organisations to harness their collective strengths in order to elevate Pakistan’s digital landscape.
He highlighted the PTA’s successful cross-sector collaborations with various government bodies and private entities.
Chairman SECP, Mr. Akif Saeed, applauded PTA’s proactive efforts in creating a safe and secure digital ecosystem in the country and thanked PTA for its support in raising awareness about illegal loan apps.
He also highlighted the significance of collective efforts by all regulatory bodies and the importance of creating awareness as critical elements in strengthening overall cyber security measures.
Speaking at the event, Member C&E PTA said that by joining forces, the two entities’ aim is to promote innovation, enhance service delivery to the public, and collaboratively address common challenges while identifying opportunities for joint initiatives.
While thanking the participants, Commissioner SECP, Mujtaba Ahmed Lodhi, appreciated PTA for joining forces with SECP in spreading awareness regarding ethical lending practices through the recently launched SMS and ring-back tone service.
Both SECP and PTA expressed their firm commitment to regularly meet and coordinate on all matters of mutual interest.
