Blue-eyed commissioners appointed in SECP prior to cabinet session

Finance Minister Ishaq Dar has approved the circulation summary from the Cabinet for the appointment of the three commissioners in the Securities and Exchange Commission of Pakistan (SECP). Atif Saeed, Abdul Rahman Waraich and Mujtaba Lodhi have been appointed as new commissioners.

The federal government appointed three new commissioners for the Securities and Exchange Commission of Pakistan (SECP).

For the appointment of the three commissioners, their names were kept strictly confidential and despite the meeting of the cabinet, approval was obtained from the cabinet through circulation summary before Thursday’s cabinet session.

Economic circles and a minister of the federal cabinet told News360 that the summary of the appointment of the three commissioners was not presented in the meeting of the federal cabinet on December 8.

According to a document obtained by News360, the summary of the appointment of the three commissioners was circulated and approved on December 7, a day before the December 8 meeting of the federal cabinet.

Moreover, the names of the three commissioners, which were approved by summary circulation, were not included and their names were not made public until the time of approval nor were their names known to cabinet members.

Economic circles said that there is a general perception that Saeed Atif, Abdur Rehman Waraich and Mujtaba Lodhi are supported by current finance minister Ishaq Dar and former SECP chairman Zafar Hijazi.

With the new appointments, the SECP commission has been completed but in the coming days, it is feared that the current chairman Aamir Khan may face difficulties and Atif Saeed would be made the new chairman.

It should be noted that the current SECP chairman Aamir Ahmed made revolutionary rules and made the most important amendments to the reforms and legislation in the institution for the protection of small investors.