Anusha Rahman Submits Bill in Senate to End SECP’s Financial Autonomy

Islamabad ( Web News)

In a move to end the financial autonomy of the Securities and Exchange Commission of Pakistan (SECP), government senator Anusha Rahman has submitted an amendment bill to the Senate Secretariat.

According to the proposed amendment, the salaries of the SECP chairman and commissioners will be determined by the board with the approval of the federal government. This effectively removes the commission’s authority to decide on the remuneration of its own chairman and commissioners.

Details suggest that the issue arose after revelations that the SECP chairman and commissioners had been drawing millions of rupees in salaries and allowances for the past one and a half years, triggering concern in government circles. Following this, the decision was taken to strip SECP of its financial autonomy.

Practical steps have now begun, with Senator Anusha Rahman of the Pakistan Muslim League-Nawaz (PML-N) submitting the SECP (Amendment) Bill 2025 in the Senate Secretariat.

The private member’s bill proposes changes to Sections 3 and 5 of the SECP Act 1997. Under Section 3, the commission currently enjoys both administrative and financial autonomy, which would be revoked under the amendment.

Section 5(4) of the SECP Act currently empowers the commission to determine the remuneration of its chairman and commissioners. However, the amendment seeks to shift this power to the board, subject to federal government approval, thereby ending the commission’s authority in this regard.