Senate body asks SECP to avoid crash

The Senate Standing Committee on Finance, Revenue and Statistics has directed the SECP to regulate strictly and vigilantly so that eventualities like the stock market crash of March-2005 could be avoided in future.

The Committee, which met at the Parliament House on Tuesday under the chairmanship of Senator Ahmed Ali, directed the SECP to plug the loopholes in the system, protect the interest of small and medium investors and watch the activities of banks and brokers in the stock market.

This is the only way to ensure that the capital markets would perform their essential function of supporting the industry, it observed.