ISLAMABAD, March 17: The Securities and Exchange Commission of Pakistan (SECP) on Friday nominated four non-member directors on the Board of Lahore Stock Exchange (KSE) for the year 2006 in accordance with the regulations of the exchange.

The nominated directors are: Sikandar Mustafa Khan, chairman Millat Tractors Limited, Lahore; Arif Saeed, CEO Dares Salaam Textile Mills Limited, Lahore; Arif Ijaz, managing director KSB Pumps, Lahore; and Ibrar A. Mumtaz, chairman Fazal Din Pharma Plus, Lahore.

In December 2005, the SECP had made regulations for the election of non-member directors as chairmen of the Karachi, Lahore and Islamabad stock exchanges.

The stock exchanges of Karachi and Islamabad had already appointed non-member directors. This was an important reform measure for the protection of investors and is aimed at limiting the possibility of conflict of interest on the boards of the exchanges.