ISLAMABAD: Finance Ministry has decided to appoint S Masood Akhtar Naqvi as Chairman Securities and Exchange Policy Board, official sources told Business Recorder.

In terms of section 12 of the Securities and Exchange Commission of Pakistan (SECP) Act, 1997, the federal government has the mandate to appoint a Security and Exchange Policy Board. Six members of the Board are appointed from the private sector and the remaining five are from the public sector (ex-officio members).

The Federal Government designates one of the members to be the Chairman of the Policy Board under section 12(7) of the SECP Act, 1997. Khalid Mirza was appointed as the Member and the Chairman of the Securities & Exchanges Policy Board on November 16, 2018.—MUSHTAQ GHUMMAN