SECP launches major reforms push for corporate debt market

March 30, 2026 (MLN): Pakistan’s Securities and Exchange Commission of Pakistan (SECP) has taken a major step toward reforming the country’s corporate debt market by launching a comprehensive survey initiative aimed at identifying key barriers and improving the regulatory framework to make the market more efficient, liquid, and attractive for investors.

In order to initiate reforms in Pakistan’s corporate debt market and gather stakeholder feedback, the SECP has launched three targeted surveys.

The initiative aims to collect input from market participants to improve regulatory processes and support the development of a more active and efficient debt market.

According to a press release issued, the SECP has invited feedback from a wide range of stakeholders to help activate and strengthen Pakistan’s debt market.

The surveys are designed to understand the current level of awareness about debt instruments, gather feedback on practical challenges faced during debt issuance and listing, and assess the effectiveness of the credit rating process. Through this exercise, the SECP seeks to identify key issues and areas for improvement in the market.

The surveys include an Awareness Survey to assess the market’s understanding of debt instruments, an Experience Survey to gather feedback on past experiences with debt issuance and listing, and a Credit Rating Survey to evaluate the credit rating process.

The regulator said that listed companies, credit rating agencies, and other market participants will take part in the survey process. Their input will be used to conduct a detailed analysis of existing bottlenecks that have limited the growth of the corporate debt market in Pakistan.

The surveys will engage listed companies, industry participants, and credit rating agencies. The feedback received will help the SECP enhance market liquidity, improve access to corporate financing, and make debt instruments more attractive for issuers and investors.

The SECP emphasized that enhancing market liquidity and improving access to financing are key priorities. By addressing structural issues and streamlining processes, the regulator aims to create a more conducive environment for both issuers and investors.

The statement further noted that the initiative is part of SECP’s broader strategy to develop a data-driven regulatory framework. This initiative reflects the SECP’s commitment to transparency, inclusivity, and continuous improvement.

The insights gathered will support the development of a more responsive, practical, and data-driven regulatory framework. The survey is available on the SECP’s official website, and all stakeholders are encouraged to participate and share their views to support informed policymaking and sustainable market development.

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