The Securities and Exchange Commission of Pakistan (SECP), to support Digital Transformation (DX) in its regulated sector, has issued the draft of the “Cloud Adoption Guidelines for Incorporated Companies” to solicit feedback from all stakeholders.
The guidelines provide an easy and efficient procedure for the transition to cloud computing. Companies will be able to get a clear understanding of the risks and benefits involved in moving to the cloud compared to traditional computing solutions.
Cloud offers convenient, on-demand access to a shared pool of resources such as servers, storage, and applications over the Internet. Looking ahead into the future of cloud computing and the industry’s most intriguing trends, cloud computing has proved to be very useful in different sectors in terms of better resource utilization, scalability, business continuity, improved collaboration and speed to market, etc. It provides computing resources with higher reliability at a reduced cost.
The SECP’s draft of Cloud Adoption Guidelines is in compliance with the draft, “Pakistan Cloud First Policy (PCFP) 2021,” issued by the Ministry of IT & Telecommunication. Feedback on draft Guidelines can be provided at [email protected] till August 13, 2021.
The draft guidelines are available here.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
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