The Securities and Exchange Commission of Pakistan is reviewing the regulatory framework for non-banking finance companies in order to create a more conducive environment for private investment. It has proposed amendments to the Non-banking Finance Companies (Establishment and Regulation) Rules 2003, as well as new rules on real estate investment trusts and private equity and venture capital funds.
The new Code of Corporate Governance lists best practices on issues ranging from board representation for minority shareholders to disclosure of interests. Pakistan's stock exchanges have been directed to incorporate the code into their listing regulations. While companies must monitor compliance with the code, conditions can be relaxed in particular circumstances.