20000128

Five names under consideration for SECP chairmanship

RECORDER REPORT

KARACHI: Five names are under consideration to select one of them for the appointment as chairman of Securities and Exchange Commission of Pakistan (SECP). The present chairman of the commission, Shamim Ahmed, has resigned from his post.

The names under consideration are: Khalil Masood; Mumtaz Abdullah and Irtiza Hussain, former chairmen of the Corporate Law Authority (CLA), B H Qureshi, who is the senior most officer in the SECP, and Khalid Mirza, who is resident representative of International Finance Corporation (IFC) in its Bangkok office.

If Mumtaz Abdullah or Irtiza Hussain is selected, he would be appointed on contract basis, because both are retired from the government service. Khalil Masood is working in the customs department.

As per promotion policy and rules notified by the ministry of finance, only regular members of the former CLA having five years experience in BPS-20 and above are eligible for promotion to the post of chairman. Under these rules B H Qureshi is reported to be an appropriate candidate for this post. Qureshi, at present, is in BPS-21 grade.