Islamabad, 12 Oct 2023:The Pakistan Telecommunication Authority (PTA) and the Securities and Exchange Commission of Pakistan (SECP) have entered into a collaborative agreement, seeking to enhance their cooperative efforts across a range of initiatives and areas of mutual interest. The Memorandum of Understanding (MoU) between the two regulatory bodies was formalized in a signing ceremony at the SECP Head Office in Islamabad, with the objective of establishing a comprehensive framework for bilateral cooperation. The MoU encompasses a diverse array of initiatives and objectives, including the realization of a digital society aligned with the Government of Pakistan’s “Vision 2025”, facilitating e-Governance initiatives, information exchange, and cybersecurity efforts, among others, according to a press release from the PTA.

Chaired by key figures from both organizations, including Chairman PTA, Maj Gen (R) Hafeez Ur Rehman, and Chairman SECP, Mr. Akif Saeed, the event underscored the potential impact of the collaborative effort in uplifting Pakistan’s digital landscape and bolstering cybersecurity. The MoU aims to promote innovation, enhance service delivery, and collaboratively navigate challenges while exploring opportunities for joint initiatives in various pertinent areas such as policy and regulatory input, business process efficiency, data management, and capacity building.

During the ceremony, both chairmen emphasized the necessity of collective strengths and collaborative efforts among regulatory bodies to fortify cybersecurity measures and create a robust digital ecosystem in the country. They highlighted the significant strides achieved through PTA’s collaborations with various government bodies and private entities. The speakers also noted the imperative of raising awareness and thanked participants for their commitment to combining forces in spreading awareness regarding ethical lending practices through recently launched SMS and ring back tone services.

Both the PTA and SECP, through this formalized partnership, expressed their steadfast commitment to regular coordination and dialogue on all pertinent matters of mutual interest, envisioning a strengthened digital society and enhanced regulatory cooperation moving forward.