ISLAMABAD: The Prime Minister of Pakistan has taken notice of the recent salary and allowance hike approved for the Chairman and Commissioners of Securities and Exchange Commission of Pakistan (SECP). The decision has drawn significant attention, prompting the government to initiate a formal review to ensure transparency and accountability in the compensation structure of regulatory institutions.
To address the matter, a high-level committee has been constituted under the chairmanship of Rana Sanaullah. The committee’s primary mandate is to examine all aspects surrounding the pay and allowance increase and assess whether the decision aligns with public sector compensation frameworks and regulatory guidelines. Officials confirmed that the committee will present its findings and recommendations to the Prime Minister within two weeks.
The committee will not only assess the justification behind the pay revision but also evaluate broader governance issues linked to regulatory compensation. The objective is to ensure that such decisions are made with a clear rationale, maintaining public trust and ensuring that regulatory bodies operate with transparency and accountability.
Government sources indicated that the review will also examine the approval process, timing, and scale of the compensation increase. Regulatory institutions like SECP play a critical role in supervising Pakistan’s capital markets, and their credibility depends significantly on transparent governance practices. The committee has also been tasked with proposing concrete measures to strengthen oversight mechanisms to prevent similar controversies in the future.
This move comes at a time when fiscal discipline and accountability in public sector institutions are under increased scrutiny. With inflationary pressures and economic challenges, public perception of high compensation packages for regulatory officials is sensitive. The government aims to balance fair compensation with responsible use of public funds and transparent decision-making.
Officials emphasized that the intention is not to undermine the operational autonomy of SECP but to ensure that regulatory institutions function within a clear accountability framework. The committee’s recommendations may include revised procedures for approving future compensation changes and guidelines for transparent disclosures to the public and relevant authorities.
The review is expected to set a precedent for how compensation policies in key regulatory bodies are managed going forward. Analysts believe this step could lead to stronger governance standards and reinforce public confidence in institutions tasked with overseeing critical sectors of the economy.
The government’s quick response reflects a broader commitment to improving regulatory oversight and financial governance. If implemented effectively, the findings of this committee could shape future policies not only for SECP but for other regulatory organizations as well.
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