Islamabad, Sep 10: The second training session on the development of the commodity futures market was started in Islamabad the Securities and Exchange Commission of Pakistan (SECP) and the US Commodity Futures Trading Commission (CFTC).
The chairman of the SECP, Akif Saeed, emphasized the significance of the agricultural commodities market to Pakistan’s economy. He outlined the major steps SECP has made, such as the continuous stakeholder engagements meant to promote the growth of a strong commodities derivatives market.
Chairman SECP emphasized once more how crucial it is for all parties involved to work together in order to establish a productive commodities futures market in Pakistan. He gave Mr. Kevin acclaim for his crucial assistance in arranging the cooperation with the US CFTC, which advanced Pakistan’s Commodities Futures Market.
The SECP was applauded for arranging the capacity-building program, which focuses on market development, regulation, and strengthening the commodities futures market, by Dr. Akmal Siddiq, Advisor for the Ministry of National Food Security and Research.
He also thanked Mr. Kevin Piccoli, Deputy Director at U.S. CFTC, for his support and for spearheading the capacity-building program. He further praised U.S. CFTC for giving Pakistan invaluable technical help.
He conveyed optimism that education and awareness-building efforts will eventually result in the growth of commodities futures markets in Pakistan in the years to come.
Relevant government employees, SECP representatives, market intermediaries, agritech businesses, and corporates attended the training session. Participants discussed the necessity of creating connections between the futures market and the markets for agricultural commodities.
