The role of Securities and Exchange Commission of Pakistan (SECP) is of paramount importance for corporate governance in Pakistan. SECP acts as an implementing and monitoring body. Theoretically, when SECP frames a new law, it should consult the related authorities, but this is not happening in the true spirit. This study presents a brief understanding of evolution of corporate governance in Pakistan, covering the role of regulatory bodies in enforcing it in Pakistan.

Introduction
The objective of the study is to understand the issues in corporate governance in Pakistan. It starts with a brief explanation of the basic concepts of corporate governance, followed by the evolution of corporate governance in Pakistan covering the role of regulatory bodies in enforcing it in Pakistan.

Methodology
This article is based on an interview (held on October 21, 2011) with Etrat Hussain Rizvi, Former Commissioner, Securities and Exchange Commission of Pakistan (SECP). With his in-depth exposure to financial institutions, he has always been a part of the key team framing prudential regulations for banks and Non-Bank Financial Companies (NBFCs). Later on, after joining SECP as the Commissioner, he also took initiative in the development of the code of corporate governance at SECP and State Bank of Pakistan (SBP). Although single source data or interview may raise a question about the reliability and validity of the findings, yet the credibility of the source may be considered as a tool in enhancing the quality of the research, particularly reliability.

Corporate Governance Journal, Corporate Governance, Pakistan, Perspective, Securities, Exchange Commission, Securities and Exchange Commission of Pakistan (SECP), Non-Bank Financial Companies (NBFCs), State Bank of Pakistan (SBP).