ISLAMABAD: Prime Minister Shehbaz Sharif has directed a comprehensive probe into alleged misuse of authority and self-serving decisions by top officials of key regulatory bodies, including the National Electric Power Regulatory Authority (Nepra), the Securities and Exchange Commission of Pakistan (SECP), and the State Bank of Pakistan (SBP). The move aims to ensure greater transparency, accountability, and oversight in institutions originally created to uphold these very principles.
The directive follows growing concerns, raised both publicly and in parliamentary committees, about the top management of regulators using their powers for personal gain—particularly in enhancing their own salaries and benefits without government approval.
To address these concerns, the prime minister has constituted a seven-member committee led by his adviser on political affairs. Other members include Minister of State for Finance Bilal Azhar Kayani, the federal secretaries of the finance, cabinet, and information divisions, the director general of Pakistan Broadcasting Corporation (PBC), and an additional secretary of the information division.
The committee has been tasked to investigate the increase in salaries and allowances of SECP commissioners, determine the legality and propriety of such actions, and propose measures to strengthen transparency and accountability in regulatory institutions.
The panel will also probe delays in salaries, pensions, and liabilities of employees at Pakistan Television (PTV) and Radio Pakistan, along with assessing the commercial viability of state-owned media enterprises. The committee has been given two weeks to submit its findings.
The issue of regulators exercising unchecked powers has been under scrutiny in recent Senate sessions. Lawmakers from both the treasury and opposition benches have called for the removal of “conflict of interest” clauses in the laws governing the SECP and SBP, which currently allow their leadership to determine their own emoluments.
Senator Anusha Rehman, during a meeting of the Senate Standing Committee on Finance, described the provision as a “serious conflict of interest,” urging that the authority to fix pay and perks of SBP officials be restored to the government. Audit reports had earlier revealed benefits amounting to Rs381 million granted to an SECP chairman, sparking widespread criticism.
Similarly, Nepra’s recent decision to increase the salaries of its chairperson and members without requisite government approval has drawn legal and public ire. Former Senate Chairman Farooq Naik stressed that while some of these actions might be legally permissible, they clearly constitute a misuse of power and demand accountability.
Story by Khaleeq Kiani
