Finance Division issues notification to appoint Tahir Mahmood as Acting Chairman SECP
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ISLAMABAD: The Finance Ministry has appointed Tahir Mahmood as Acting Chairman of the Securities and Exchange Commission of Pakistan (SECP) here on Wednesday, a notification of ministry of finance said here on Wednesday.
Tahir Mahmood, the senior most member of the SECP, will perform his duties as Acting Chairman till the appointment of new Chairman, the notification added.
Chairman SECP Shaukat Hussain Abbasi on October 18 resigned from his post, though the PTI government had also announced his removal some two weeks back. Former finance minister Ishaq Dar appointed a junior member of the SECP as Chairman without any consultation of the parliament members or cabinet committee.
Being the employee of the commission, he would continue working as commissioner of this regulatory body.
The federal government has sent a summary to this effect to the Prime Minister Office for appointing Tahir Mehmood as the acting chairman of the commission, official confirmed.
Normally there are five commissioners in SECP, while currently there are three. Two posts of commissioners are vacant. Government has advertised the posts, application have been received and the short listing is under process, official said.
According to the SECP Amendment Act 2016, after giving acting charge of Chairman SECP to somebody, the government is liable to appoint permanent head of the commission within 120 days. Once appointments are made on these vacant posts, the government would appoint a permanent Chairman of the SECP, he said.
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