Pakistan Business Council remains in an ongoing collaboration with SECP over various legislative drafts aimed at furthering market efficiencies. The Law on Private Equity and Venture Capital has remained in pipeline since as early as 2006 when the first draft was presented by the SECP. After two years of further deliberations, the Private Equity and Venture Capital Fund Regulations were finalized in 2008.
The regulations clearly spell out applicable conditions and obligations of Fund Management Companies and provide basis for punitive actions that can be instigated against them. In absence of such regulations, Fund Management Companies had remained vastly unregulated and consequently predatory and inequitable.