ISLAMABAD: The federal government has appointed Shaukat Hussain as chairman Securities and Exchange Commission of Pakistan (SECP) after withdrawing the earlier cabinet approval where another senior commissioner was appointed as the head of the corporate sector regulator.

The notification F.3(5) Inv-II/2000, dated May 11, 2018 issued by the finance ministry, said that Hussain has been appointed SECP‘s chairman with immediate effect.

A senior official of the ministry said that the first summary was circulated among the cabinet members seeking approval for the appointment of SECP Commissioner Tahir Mahmood as its chairman. It also identified that the Acting Chairman Zafar Abdullah was not being confirmed as chairman as he is set to retire in August.

While another summary was circulated on Friday highlighting that the matter was reconsidered by the government and Hussain was being appointed as chairman.

Published in Dawn, May 13th, 2018