Pakistan is upgrading its business and trade laws to align with international standards while pursuing greater transparency and digitalization to facilitate investment and innovation, Securities and Exchange Commission of Pakistan (SECP) Chairman Kabir Ahmed Sidhu said.
Speaking in connection with the inauguration of the Pakistan operations of U.S. technology company Mobiz in Karachi, Sidhu said the SECP was working to align regulations governing capital markets, insurance, nonbank financial services and corporate debt markets with international standards.
“The government is working to create a transparent, efficient and technology-enabled regulatory environment” to support businesses, investment and innovation, Sidhu said.
He said Pakistan’s young people possess strong professional capabilities in technology, adding that the government aims to position the country as an important regional hub for the global technology sector.
Sidhu said regulatory frameworks covering the corporate sector, capital markets, insurance, nonbank financial services and corporate debt markets were being continuously simplified and modernized.
Mobiz CEO Hamad Riaz said the company is a specialist partner of Microsoft and provides services globally across eight information technology specializations. He added that Mobiz also operates in Gulf countries, including Saudi Arabia, the United Arab Emirates, Qatar, Kuwait and Oman.
At the event, Pakistan Disabled Foundation Chairman Shahid Memon praised Mobiz’s corporate social responsibility initiatives supporting people with disabilities.
Information technology experts Jehan Ara and Azfar Hussain highlighted opportunities for young Pakistanis in entrepreneurship and employment in emerging technology fields.
Ghulam Farooq Leghari, director general of the Sindh Authority for the Protection of Persons with Disabilities, welcomed Mobiz’s efforts to connect people with disabilities to modern technology facilities.
Mobiz Head of Data and AI Dr. Akbar Gardizi briefed participants on the company’s growing investment in Pakistan and said Mobiz would provide software, artificial intelligence support and other facilities for people with special needs and disabilities.
