Lawmakers on Wednesday accused commissioners of the Securities and Exchange Commission of Pakistan (SECP) of awarding themselves significant salary increases without prior approval.
The issue surfaced during a meeting of the Senate Standing Committee on Finance chaired by Saleem Mandviwala, where the SECP Amendment Bill 2026 was taken up for review.
The bill was presented by Senator Anusha Rehman, who, in her comments, alleged that SECP commissioners had increased their own salaries. She further claimed that one commissioner transferred Rs. 7 million into a personal account to pay for their membership at the Islamabad Club.
The senator proposed structural changes to the SECP Policy Board, suggesting that the number of private members be reduced from six to four, while the number of government members be increased from five to seven. She also recommended allocating one seat each to a member of the National Assembly and the Senate on the board.
Additionally, she proposed that each province should be represented by one private member to ensure equal provincial participation in the regulator’s decision-making structure.
