SECP Chairman Shaukat Abbasi resigns

ISLAMABAD (92 News) – Securities and Exchange Commission of Pakistan (SECP) Chairman Shaukat Hussain Abbasi tendered his resignation on Thursday. Former prime minister Shahid Khaqan Abbasi had appointed him as SECP chief. However, he will continue to work as SECP commissioner. The government has decided to appoint Tahir Mahmood as acting SECP chairman. Earlier on Wednesday, the government had decided to remove the Securities and Exchange Commission of Pakistan (SECP) chairman. Prime Minister Imran Khan accorded the approval to remove SECP Chairman Shaukat Hussain Abbasi after the Finance Ministry presented a report, stating that his appointment was illegal as he was given promotion thrice within four months. It has been stated in the report that Abbasi had abetted Zafar Hijazi, former SECP chairman, besides providing wrong information in the Panama case. On the other hand, the government has also decided to initiate action against close aides of SCEP chairman.