KARACHI: The Chairman National Accountability Bureau (NAB) Javed Iqbal Tuesday included a matter of the appointment of the Chairman Securities and Exchange Commission of Pakistan (SECP) Shaukat Hussain Abbasi in the board meeting agenda to be held next Tuesday.
The matter was included in the agenda meeting on a letter sent by Rai Nawaz Kharal, Advocate of Supreme Court here on Tuesday.
In the letter, Advocate Kharal stated that appointment of Shaukat Hussain (Abbasi), as Chairman SECP was illegal, without jurisdiction, based on favouritism and nepotism, violation of transparency and level playing field and deviation from the rules settled by the honourable Supreme Court of Pakistan.
The decision was also in violation of the provisions of the SECP Act, whereby he was selected merely because of his political relationship especially with Shahid Khaqan Abbasi, the former Prime Minister of Pakistan.
“The Supreme Court on Saturday (July 14, 2018) also directed the National Accountability Bureau (NAB) to look into appointments where the top brass in government organisations is getting salaries over Rs1.5 million. This is a perfect case for the inquiry as Shaukat Hussain is now drawing a salary of over Rs2 million per month along with huge additional perks. Reportedly, one of his close relative, who was political secretary to the former Prime Minister Khaqan Abbasi made all this possible for him,” the letter said.
It further claimed that the Supreme Court of Pakistan, in its order made in Ashraf Tawana v/s federal government case, announced on April 13, 2013, elaborated the principles for appointment of SECP chairman. In the said judgment, while setting aside the appointment of M Ali as SECP Chairman, the honourable court declared that the appointment of SECP chairman can only be made” once all commissioners i.e. five are in place.
The federal government after considering the credentials of all five commissioners shall appoint the most competent person as chairman. Whereas in the case of Shaukat Hussain, this essential principle was not followed as there were only four commissioners at the SECP and one advertised position is yet to be filled. Secondly, all the other three commissioners are more qualified, more competent and have more dynamic experience as compare to Shaukat Hussain, it further said.
In the letter, Advocate Rai Nawaz Kharal requested to the chairman NAB to order an inquiry into the appointment of Shaukat Hussain as chairman SECP as the appointment was based on favoritism and nepotism, violation of transparency and level playing field and deviation from the rules settled by the honourable Supreme Court of Pakistan.
