ISLAMABAD: The selection committee on Friday conducted interviews of 27 candidates for the appointment of three commissioners to the Securities and Ex­change Commission of Pakistan (SECP). Nine candidates will be shortlisted for consideration by the federal cabinet.

The committee — comprising Finance Minister Muhammad Aurangzeb, Minister of State for Finance Bilal Azhar Kayani, Secretary to the Prime Minister Jehanzeb Khan, Finance Secretary Imdadullah Bosal and Law Secretary Raja Naeem — interviewed the applicants and will finalise a panel of nine names, three nominees for each seat.

The three incumbent commissioners — Akif Saeed, Abdul Rehman Warraich and Mujtaba Lodhi — are set to retire next week. All three, including Mr Saeed who currently serves as SECP chairman, have applied for reappointment. Once finalised, the shortlisted names will be forwarded to the federal cabinet, which will make the final selection.

The appointment process comes amid heightened scrutiny of SECP’s governance practices, with questions raised in parliament and the media about discretionary perks, internal discord and regulatory inconsistency.

The regulator has recently drawn criticism over a significant increase in benefits awarded to senior management, including the payment of Rs7 million for a retiring commissioner’s Islamabad Club membership as a private member.

Published in Dawn, December 6th, 2025