Pakistan’s Public Accounts Committee (PAC) has raised eyebrows over the Securities and Exchange Commission of Pakistan (SECP) chairman’s annual salary package of Rs41 million, questioning how such compensation is justified at a time of economic strain.
PAC Chairman Junaid Akbar Khan pressed officials during Tuesday’s meeting to explain whether regulatory boards have unchecked authority to determine executive pay without government oversight. He instructed the Finance Division to compile a detailed briefing for the next session, including data on salary packages for other top institutional heads reportedly earning “hundreds of millions.”
Karachi Country Club Land Row Resurfaces
The committee also revisited a long-running dispute over Rs1.66 billion allegedly owed by the Karachi Country Club, after new information contradicted earlier claims that the government had secured the land and finalized payments.
“This is a completely new narrative. We were told the issue was resolved—land acquired, dues settled, plans in place. Now the picture is entirely different,” remarked PAC member Khawaja Shiraz Mahmood.
Why It Matters
The controversy underscores Pakistan’s ongoing struggle to rein in public spending and enforce financial accountability. With inflation and fiscal deficits weighing heavily on the economy, revelations of high executive pay and unresolved land disputes are likely to fuel public frustration over governance and resource allocation.