The finance ministry has appointed three new commissioners at the Securities and Exchange Commission of Pakistan (SECP) and two members in Competition Commission of Pakistan (CCP).
With the appointment of Mr M Zafar-ul-Haq Hijazi, Mr Akif Saeed and Mr Fida Hussain Samoo, the SECP now has five commissioners.
Zafar-ul-Haq had earlier been a commissioner in the SECP, and may be the next SECP chairman, sources said.
Currently, there is no permanent chairman in the SECP since the removal of the then SECP chairman Mohammad Ali on the orders of Supreme Court in April 2013.
The two new members of the CCP are Ms Vadiya Khalil and Mr Ikramul Haq Qureshi.
Whats the use? The performance of SECP as a regulator is zero. The can’t get the inside trading in large AMCs. Few brokers and AMCs have hijacked the Stock market.