Tug-of-war between top SECP officials ends

ISLAMABAD - Finally the tussle between the Chairman Security Exchange Commission of Pakistan (SECP) and his archrival Commissioner Tariq Hussain of the same department has ended after the mediation of Finance Minister Dr Hafeez Sheikh, sources informed TheNation. Well-placed sources in SECP said that the sitting chairman of SECP Suleman Sheikh and the Commissioner (SECP) were having serious differences over various issues, which after the intervention of Finance Minister Dr Hafeez Sheikh have been translated into peaceful work agreement. Sources added that the finance minister in the meeting with SECP management had also ensured the SECP management that a mechanism would be devised soon to fill the vacant positions of commissioners at SECP. In the meeting, the issue of the internal promotions was also discussed. The minister seemed very serious to fill the management flaws at SECP, sources added. Sources further said that a policy board meeting was expected on 8th May 2010 under the chairman ship of secretary finance in this regard. However, according to reports, the secretary finance could not chair the policy board meeting, the sources maintained. It would be relevant to mention here that the authorities in finance ministry previously had made several commitments to fill the vacant positions of commissioners at SECP. However, the government deliberately kept itself away from making the appointments of the commissioners in SECP. Certain quarters believe that although the tussle between the chairman and commissioner has ended, but the efficiency of the organization will not improve until the five commissioners are appointed in the light of the prescribed rules of SECP. When this scribe contacted Rabnawaz, spokesman of SECP, the latter confirmed that the policy board meeting was not held on Thursday.

ePaper - Nawaiwaqt