Multiple directors resign from Pakistan Mercantile Exchange. What’s going on?

Ten months might not seem like a long time but in terms of director turnover at the Pakistan Mercantile Exchange (PMEX), it seems like a lifetime. In May 2022, elections were carried out and ten directors were elected who would, in an ideal world, have seen their terms end in May of 2025. However, a quick glance at the website of the exchange shows that it lists only five members who are active currently. 

What happened to half of the board? If reports are to be believed, they state that directors resigned or more appropriately that they were made to resign. With no notifications, no announcements or disclosures, it seems that the matter is being kept hush hush. What exactly took place? Profit tries to piece together the puzzle.