SECP Runs with Only Two Commissioners After Terms End

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has been crippled with only two commissioners since December 12, after Chairman Akif Saeed and Commissioners Mujtaba Lodhi and Abdur Rahman Warraich completed their terms — leaving Zeeshan Rehman Khattak and Muzaffar Ahmed Mirza to helm the regulator mandated for 5–7 members. Experts warn the leadership vacuum threatens policy approvals, enforcement, and major decisions, weakening oversight of the Pakistan Stock Exchange, corporate governance, and investor protection. A high-level committee under Finance Minister Muhammad Aurangzeb interviewed 27 candidates in early December — shortlist awaits cabinet nod. Stakeholders slam the delay — Next Capital CEO Najam Ali: “Vacant seats scream instability to investors in Pakistan’s capital markets."