Lawmakers have accused commissioners of the Securities and Exchange Commission of Pakistan of awarding themselves significant salary increases without obtaining prior approval.
The issue surfaced during a meeting of the Senate Standing Committee on Finance chaired by Saleem Mandviwala, where the SECP Amendment Bill 2026 was reviewed.
The bill was presented by Anusha Rehman, who alleged that SECP commissioners had increased their own salaries. She also claimed that one commissioner transferred Rs. 7 million into a personal account to cover membership expenses at the Islamabad Club.
During the meeting, the senator proposed several structural changes to the SECP Policy Board. She suggested reducing the number of private members from six to four while increasing government representation from five members to seven.
She also recommended allocating one seat each to a member of the National Assembly and the Senate on the board. Additionally, the proposal included representation for all provinces by allocating one private member from each province to ensure balanced participation in the regulator’s decision-making structure.
