Islamabad: The Public Accounts Committee (PAC) expressed on Tuesday a commotion for the reports that the president of the Pakistan Stock Exchange and Securities Commission (SECP) was obtaining an annual salary of RS41 million.
The president of PAC, Junaid Akbar Khan, questioned how a country that faces economic difficulties could afford such packages.
“Is the Board free to solve salaries to your own discretion without seeking anyone’s approval?” asked.
The president ordered the Finance Division to provide details of the matter at the next meeting, which will be held today (Wednesday), along with a list of how many other presidents in several institutions were drawing salaries in the hundreds of millions.
The PAC also reviewed an audit objection with respect to the non -recovery of RS1.66 billion of Karachi Country Club.
The members recalled that the officials had assured the committee that the case had been decided in favor of the government, the land taken and the payments were clear, but the new claims contradicted those statements, and the officials admitted that the government never had possession of the land.
“This is a new story in total. Previously, they told us not only that the Earth was assured and the payments made, but even that future property plans were finished. Now, the narrative has changed completely,” said the member of the Khawaja Shiraz Mahmood committee.
Posted in Dawn, August 27, 2025
