Lahore: The Securities and Exchange Commission of Pakistan (SECP) and the U.S. Commodity Futures Trading Commission (CFTC) inaugurated their third collaborative training session on the commodities futures market in Lahore, focusing on the development and promotion of this sector within Pakistan. The session aims to enhance understanding and coordination among various stakeholders to foster a robust commodities futures market, essential for the economic growth of the country.

According to Securities and Exchange Commission of Pakistan, the training was spearheaded with an opening address by SECP Commissioner, Mr. Mujtaba Ahmad Lodhi, who highlighted the necessity of joint efforts to overcome the obstacles in creating a sustainable warehousing ecosystem and a vibrant commodities futures market. Mr. Lodhi underscored the critical role of the Pakistan Mercantile Exchange in prioritizing the trading of commodities futures contracts, particularly those related to agricultural commodities, to significantly contribute to Pakistan’s economic expansion. He also expressed gratitude towards Mr. Kevin Piccoli, Deputy Director of the U.S. CFTC, for his effective leadership in conducting the training, which facilitated crucial discussions among key stakeholders.

The event saw the participation of government officials, regulators, market intermediaries, agri-processors, agri-tech firms, and corporate representatives, who collectively explored the significance of a sustainable agricultural warehousing system and the need to establish stronger linkages between agricultural spot markets and the commodity futures market.

This session, part of a series previously held in Karachi and Islamabad, is designed to elevate the participants’ understanding and encourage a unified approach towards establishing a more transparent, efficient, and competitive commodities market in future endeavors.