The government has approved the appointment of Dr Kabir Ahmed Sidhu as Chairman of the Securities and Exchange Commission of Pakistan (SECP), with immediate effect. The decision was ratified by the Prime Minister through a notification issued by the Finance Division, signaling a new chapter in regulatory leadership for Pakistan’s capital markets.
Dr Sidhu, who previously served as Chairman of the Competition Commission of Pakistan (CCP), is widely recognised for his transformative leadership and extensive experience in legal, financial, and public-sector advisory roles. During his tenure at the CCP, which began in August 2023, he spearheaded a comprehensive reform agenda that significantly enhanced institutional efficiency and accountability. Under his leadership, over 70% of the Commission’s backlog of pending cases was resolved, substantially improving its performance and credibility.
An accomplished academic, Dr Sidhu holds a Bachelor’s degree in Law, an LLM in Banking, Insurance and International Business Law, and a PhD from the University of Manchester, where his doctoral research focused on investor protection and regulatory oversight of both conventional and Shariah-compliant stock exchanges. He also completed postgraduate training in civil litigation and professional certifications in financial advisory services in the United Kingdom, further strengthening his expertise in complex regulatory and financial matters.
Dr Sidhu’s tenure at the CCP was marked by robust enforcement measures and strategic reforms. Recoveries from penalties under his leadership reached approximately Rs 1.36 billion, compared to cumulative recoveries of around Rs 200 million over the previous two decades. Additionally, the Commission imposed over Rs 2 billion in fresh penalties through new enforcement actions. Sectors targeted included poultry, sugar, edible oil, telecommunications, healthcare, real estate, FMCG, education, pharmaceuticals, and the automobile industry. Notable companies penalised during this period included Kingdom Valley, FrieslandCampina, Unilever, Engro, Al-Ghazi Tractors, Hyundai Nishat, British Lyceum, and 3N Lifemed.
Among his key reforms was the establishment of the Market Intelligence Unit, an AI-enabled surveillance system designed to enhance proactive enforcement and market oversight. Dr Sidhu also oversaw the review of 139 merger cases across 34 sectors, including high-profile transactions such as the PTCL–Telenor merger and Shell Pakistan’s sale to Wafi Energy. The PTCL–Telenor decision was widely lauded for maintaining competition safeguards while facilitating investment.
Furthermore, Dr Sidhu led the creation of a Centre of Excellence in Competition Law, aimed at supporting regulatory modernisation and conducting in-depth competition assessments across Pakistan’s economy. His appointment as SECP Chairman is expected to reinforce investor confidence, strengthen governance, and accelerate reforms in the capital market, leveraging his proven track record in regulatory leadership, enforcement, and strategic oversight.
With Dr Sidhu at the helm, the SECP is poised to continue its mission of protecting investors, enhancing transparency, and modernising Pakistan’s capital market framework, ensuring alignment with international best practices while fostering sustainable economic growth.
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