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Letter written to Dar to seek reasons for increase of commissioners in SECP

Letter written to Dar to seek reasons for increase of commissioners in SECP

LAHORE: Advocate of Lahore High Court (LHC) Azhar Saddique wrote a letter to the Federal Finance Minster, Ishaq Dar, to know the reasons for the enhancement of commissioners in the Security and Exchange Commission of Pakistan (SECP).

Azher mentioned that on what grounds finance ministry felt the need to raise the number of Commissioners in the Security and Exchange Commission of Pakistan (SECP).

Azhar Saddique seeks that the number of commissioners was raised from five to seven and through said increase the ministry wants to save Zafar Hijazi involved in tampering of the record of Chaudhary Sugar Mills.

Appellant said that from last 20 years, ministry did not feel to raise the number of commissioners in the SECP, but now why the finance ministry has increased the number of commissioners from five to seven. He appeals for provision of relevant information in this regard.

It is pertaining to mention here that the same case proceeding is already going on in the Lahore High Court (LHC). Appellant’s arguments are that the number was extended during the tenure of former Chairman, Zafar Hijazi. Ahmed said that Hijazi took this step to protect the alleged corruption of the Sharif family. The SECP did not take approval from the federal cabinet, he maintained.

In the same case, the Lahore High Court (LHC) has reserved the decision that intra court appeal against the enhancement in number of commissioners in Security and Exchange Commission of Pakistan (SECP) is hearable or not.