ISLAMABAD: Khalid Mirza on Thursday resigned as chairman Securities and Exchange Commission of Pakistan (SECP) Policy Board after reaching a settlement with the government.

Mirza was the first private sector expert to head SECP’s Policy Board and was appointed in November 2018. Prior to his appointment, the position was traditionally held by secretary finance.

However, Mirza’s appointment was reversed by the Cabinet on Aug 9, 2019. In the same decision, the cabinet also challenged the appointment of SECP chairman.

But the notification to remove Khalid Mirza faced a setback after he challenged the decision in Islamabad High Court (IHC).

“I have told this several times to the government functionaries in the past and the same was stated to the IHC by my counsel that the government cannot remove any member just at their will,” Mirza told Dawn.

“This is not about me or any person but an issue of principles, the government has the right to change the SECP policy board chairman but the members should complete their tenure.” He added that after the government had withdrawn the notification about his removal as member SECP policy board, he resigned from his position as chairman.

Published in Dawn, May 8th, 2020