PKPolitics Discuss » Current Issues

SECP faces curbs on its independence

(3 posts)

  1. hariskhan
    member

    Assalam-o-Alaikum-Warahmat-ULLAH ALL,

    DAWN News: SECP faces curbs on its independence

    Thursday, 29 Apr, 2010
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    Informed sources said the changes in the law were recommended by a sub-committee comprising chairman SECP Salman Ali Shaikh and Munawar Hamid, a member of the policy board - File Photo

    ISLAMABAD: In a major development, the government is contemplating to bring Securities and Exchange Commission of Pakistan an independent corporate and capital market regulator under the control of finance ministry and withdraw job protection to its chairman and commissioners through an amendment in the law.

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    (1) Why is the current Govt. slashing out autonomy of different institutions in Pakistan ?

    (2) Is slashing autonomy of SECP good for Pakistan and its people ?

    Posted 2 years ago on 29 Apr 2010 12:25 #

  2. hariskhan
    member

    Assalam-o-Alaikum-Warahmat-ULLAH ALL,

    Another one bites the dust, eh ?

    Posted 2 years ago on 29 Apr 2010 13:05 #

  3. skunkk
    Member

    Since you are so interest haris: I'm not sure what plans are underway however, there has been consistent demand to curbs the powers of SECP. The two reasons for this were,

    1:the malafide issuance of notices which allowed the hundi-hawala system etc

    2:and the repeated Stock market crashes, this has also been highlighted in a report by committee headed by Justice Retired Saleem Akhtar

    Posted 2 years ago on 29 Apr 2010 13:11 #

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