ISLAMABAD: The suspended chairman of Securities and Exchange Commission of Pakistan (SECP), Zafarul Haq Hijazi, will retire on Friday (today) and there is no legal provision for him to become the commissioner and chairman of the corporate sector regulator again.

Apart from Mr Hijazi, two other commissioners will also retire the same day and then the regulator would be left with only two commissioners — acting chairman Zafar Abdullah, and Tahir Mahmood who is the Commissioner of the Company Law and Support Services Divisions and Appellate Bench.

The federal cabinet recently increased the number of commissioners in the SECP from five to seven and so the government has to appoint four new officers before filling the post of chairman within 120 days.

Published in Dawn, December 15th, 2017