ISLAMABAD: With the reappointment of Amir Khan as the commissioner and chairman of the Securities and Exchange Commission of Pakistan (SECP) on Tuesday, he has become the first chairman of the commission to get an extension.

Mr Khan became SECP’s commissioner in December 2018 and was later elevated to the position of chairman in August 2019.

Sources in the finance ministry said Prime Minister’s Adviser on Finance Shaukat Tarin had apprised the federal cabinet of significant reforms featuring legal, structural, regulatory, operational and product development initiatives by the SECP in the past three years.

Mr Khan is also the only chairman of the corporate sector regulator in over a decade to complete a three-year term.

Muhammad Ali Ghulam Muhammad was appointed as the commission’s chairman in December 2010 but was removed by a court in April 2013 before completing his term.

Zafar Hijazi was appointed as the chairman in December 2014 but was removed in July 2017 in the wake of a court case related to money laundering.

In May 2018, Shaukat Hussain was given the slot, but he was replaced soon when the incumbent government took charge. He was replaced in December 2018 by Farrukh Sabzwari, who was then replaced by the current chairman, Amir Khan, in August 2019.

The three-year term of Amir Khan as the commissioner expired on Monday (Dec 6), and he has been reappointed as the commissioner as well as the chairman of the SECP.

Published in Dawn, December 8th, 2021