Why appointments of SECP commissioners being made on basis of old ads?

Professional experts expressed serious concern over the happening that the appointment of commissioners in the Security and Exchange Commission of Pakistan (SECP) is being done on old advertisements and new candidates are not getting an opportunity to submit data.

It is common in the powerful economic circles of the country that the recruitment of three commissioners in the Security and Exchange Commission of Pakistan is being done based on old advertisements and the federal government has not issued new advertisements in this regard.

Experts from the capital complained said that many new professionals have not been able to collect data for these vacancies due to the non-release of new advertisements.

20 experts have been shortlisted for the posts of three commissioners in the SECP these days. This shortlisting has been done under the advertisement issued during the Pakistan Tehreek-e-Insaf (PTI) government.

It should be noted that the former finance minister Shaukat Tareen issued advertisements for the posts of two commissioners on 10 January 2022 and for the appointment of one commissioner on 6 March 2022.

As per the prevailing rules and regulations regarding recruitment, the recruitment should have been done within 120 days of the advertisement.

Senior government officials told News 360 that after the PTI government ended, former finance minister Dr Miftah Ismail had collected data for recruitment in the light of the same old advertisements. A committee was formed to scrutine the data.

Officials say that if recruitment is done by issuing fresh advertisements, it will take more time and the number of commissioners must be increased to make the commission functional and effective.

He said that the 20 experts who have been shortlisted so far have all the professional skills and their skills are visible to everyone, their skills are recognized by the entire capital market.

On the other hand, some professional experts in the capital market say that they did not get an opportunity to submit data in this regard. If these ads come up again, they also get a chance to submit data.