Details of salaries, perks offered to SECP chief, commissioners submitted before Senate body

Securities and Exchange Commission of Pakistan (SECP) has submitted details to Senate Standing Committee on Finance regarding the salaries and other benefits of chairman SECP and commissioners, reported 24NewsHDTV Channel. 

According to the document, during financial year 2023-24 the SECP Chairman and Commissioners were paid 156 million. 

SECP Chairman were paid Rs 13.823 million as basic salary while Aamir Ali Khan, Akif Saeed, Abdul Rehman Warraich and Mujtaba Lodhi were paid a total of Rs 55.293 million. 

Chairman SECP and commissioners were paid Rs 1,382,342 each as medical allowance. Aamir Ali Khan was paid Rs 5,252,892 as personal salary. Akif Saeed was paid Rs 24,88,212 as personal salary. Akif Saeed was issued a special allowance of Rs 27,64,680. The Chairman SECP and the Commissioners were paid Rs 240,000 each as orderly allowance.

Chairman SECP and Commissioners were paid Rs 11,51,952 each as LFA. Amir Ali Khan was paid a bonus of Rs 5,759,758. Akif Saeed was paid a bonus of Rs 3,543,435. Abdul Rehman Warraich and Mujtaba Lodhi were granted bonuses of over Rs 3,131,000 each. 

Provident fund of Rs 13,82,342 was paid to the Chairman SECP and Commissioners. Rs 13,82,342 was paid to the Chairman SECP and Commissioners as VPS. Amir Ali Khan was paid Rs 14,80,229 as security guard. Akif Saeed was paid Rs 18,98,658 as security guard. Abdul Rehman Warraich was paid Rs 17,00,000 as security guard. 

According to the document, Aamir Ali Khan was paid more than Rs 1.39 million in petrol, Akif Saeed was paid more than Rs 1.1 million in petrol, Abdul Rehman Warraich was paid more than Rs 1.1 million, and Mujtaba Lodhi was paid more than Rs 1.38 million in petrol. The Auditor General says that the SECP approved the increase in salaries and benefits without the approval of the Ministry of Finance. 

The SECP says policy board has authority to increase salaries and benefits and policy board does not need to seek approval from Finance Ministry.