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SECP chairperson removed from post

October 3, 2018
SECP chairperson removed from post

Shaukat Hussain Abbasi was given three promotions in four months

Prime Minister Imran Khan approved on Wednesday the termination of the chairperson of the Securities and Exchange Commission of Pakistan.

The government has called for immediate removal of Shaukat Hussain Abbasi over his illegal appointment. Action will also be taken against his close associates. Abbasi was given three promotions in four months.

Earlier on July 18, an application was filed with the National Accountability Bureau against Abbasi’s appointment. It was filed by advocate Nawaz Kharal, claiming that the appointment of Hussain Abbasi was illegal and based on nepotism. He said that the hiring was against the rules set by the Supreme Court.

Kharal remarked that Hussain Abbasi was hired because of his close relationship with former prime minister Shahid Khaqan Abbasi.

The former chairperson is accused of assisting Zafar Hajazi, who allegedly tampered the records of mills owned by the Sharif family.



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