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Home > Investigating, The Role of Securities& Exchange Commission of Pakistan from Investor’s Perspective in Stock Markets.

Investigating, The Role of Securities& Exchange Commission of Pakistan from Investor’s Perspective in Stock Markets.

Thesis Info

Author

Babar Majeed Rathor

Department

Department of Management Sciences

Program

Mphil

Institute

National University of Modern Languages

Institute Type

Public

City

Islamabad

Province

Islamabad

Country

Pakistan

Thesis Completing Year

2013

Subject

Management Sciences

Language

English

Added

2021-02-17 19:49:13

Modified

2024-03-24 20:25:49

ARI ID

1676728781240

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SECP was created to succeed the Corporate Law Authority, which was an attached Department of the Ministry of Finance. The process of restructuring the Authority was initiated in 1997 under the Capital Market Development Plan of the Asian Development Bank (ADB). Securities and Exchange Commission of Pakistan Act was passed by the Parliament and promulgated in Dec. 1997. In pursuance of this Act, the Securities and Exchange Commission of Pakistan, having autonomous status, became operational on Jan. 1 1999. The Act gave the organization the administrative authority and financial independence to carry out the reform program of Pakistan's capital market with the assistance of the ADB. Powers of the Commission have been delegated to the individual Commissioners and Appellate Benches, as envisaged in the Act. There is great work done on performance of stock markets around the globe and also some work done on regularity impact but there is no concrete work done in Pakistan to investigate the role of SECP from investors' perspective in stock markets. There is also no methodology to check the performance of regulator except IOSCO methodology in which by using qualitative approach stake holders' opinion through questionnaires and interviews can be ascertained. So the researcher got the stake holders' opinion/view through questionnaires and discussion while getting the questionnaire filled. There were 40 questions and all questions were close ended to investigate the role of Securities & Exchange Commission of Pakistan from investors' perspective in Stock Market. These questionnaires were got filled from all four stake holders to know the point of view of investor, broker, agent and regulator as well. Every question was analyzed in depth, every question was analyzed stake holder wise, city wise and answer wise along with percentage of every section. The research found that SECP is playing very positive role in stock market not only from investors' perspective but also from government point of view. Since the SECP came into action there is remarkable time decrease in registration of company, it was very good feeling to know that 100% of all stake holders replied that SECP officials never asked them for any type of gift/bribe or any other favor. SECP has open door policy and any complainant can come and can lodge complaint against any person. SECP has a number of qualified individuals on its payroll who are being paid market based salaries and are fully equipped to monitor stock markets on daily basis. During discussion with people while getting the questionnaire filled it was found that most of the investors don't know their rights and duties as an investor and that is the major cause of their loss if any in stock markets. Investors don't inquire completely before investing in a particular stock/security. Most of the people have never seen the audited financial statements of the company in which they are going to invest, they simply try their luck and want to make hay while the sun shines.
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علامہ سید رشید رضا

سید رشید رضا مِصری
افسوس ہے کہ ۲۲؍ اگست ۱۹۳۵؁ء (جمادی الاولیٰ ۱۳۵۴؁ھ) کو مصر بلکہ دنیائے اسلام کے سب سے بڑے عالم علامہ سید رشید صاحب المنار نے داعی اجل کو لبیک کہا، یہ مفتی عبدہ مرحوم کے سب سے ممتاز شاگرد اور سید جمال الدین افغانی کے فیوض و برکات سے بیک واسطہ مستفید تھے، شام وطن تھا، لیکن سلطان عبدالمجید خان کی داروگیر سے گھبرا کر چلے آئے تھے اور آخر یہیں کے ہوکر رہ گئے، عمر اس وقت ستر۷۰ سے کم نہ ہوگی، پھر بھی ان کی جسمانی قوت اور کام کی طاقت بہت اچھی تھی، اسلام کے اصلاحی مسائل ان کی تصانیف کا خاص موضوع تھا، المنار جس کی اشاعت دنیائے اسلام کے گوشہ گوشہ میں تھی، ان کی اڈیٹری میں نکلتا تھا، بلکہ یہ کہنا چاہئے کہ پورا رسالہ انہیں کے قلم کا مرہون ہوتا تھا، ان کی سب سے اہم تصنیف تفسیرالمنار تھی، جو افسوس کہ ان کی وفات سے ناتمام رہ گئی، یہ تفسیر زمانۂ حال کی ضرورتوں کو سامنے رکھ کر لکھ رہے تھے۔ وہ عقیدہ میں سلف کے پیرو اور فقہ میں غیر مقلد تھے، ان کی انشاء پردازی قدیم و جدید دونوں خوبیوں کولئے ہوئی تھی، فقہ، تفسیر اور حدیث میں یدِطولیٰ رکھتے تھے، ان کی آخری تصنیف ’’الرمی المحمدی‘‘ ہے، جس کا ہندوستانی ترجمہ کلکتہ سے شائع ہوچکا ہے، قدیم و جدید خیالات کی تطبیق ان کی ہر تحریر میں ہوتی تھی اور وہ اسی کے اس زمانہ میں اسلام کے لئے مفید خدمت سمجھتے تھے۔
اس زمانے میں جب ایسے روشن خیال و روشن ضمیر علماء جو ایک طرف متقی و پرہیزگار اور دوسری طرف زمانۂ حال کی ضرورتوں سے باخبر ہوں، انگلیوں پر گنے جاسکتے ہیں، سید رشید رضا کا ہمارے درمیان سے اٹھ جانا آج اسلام کا سب سے بڑا حادثہ...

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