The Public Accounts Committee (PAC) on Tuesday expressed concern over reports that the chairman of the Securities and Exchange Commission of Pakistan (SECP) is receiving an annual salary of Rs41 million.
According to media reports, PAC Chairman Junaid Akbar Khan questioned how such packages could be justified in a country facing economic difficulties. He asked whether the board has the authority to set salaries independently without prior approval.
The chairman directed the finance division to provide a detailed report in the next meeting, including information on other institutional chairmen earning salaries in the hundreds of millions.
During the session, the PAC also reviewed an audit objection concerning the non-recovery of Rs1.66 billion from the Karachi Country Club. Members noted that officials had previously assured the committee that the government had taken possession of the land and cleared the payments, but new claims indicated otherwise.
“This is a new story altogether. Previously, we were told that the land was secured, payments made, and future plans finalized. Now, the narrative has completely changed,” said committee member Khawaja Shiraz Mahmood.
