ISLAMABAD: Senators on Wednesday called for the abolition of ‘conflict of interest’ clauses in the laws regulating the State Bank of Pakistan (SBP) and the Securities and Exchange Commission of Pakistan (SECP), which allow their top brass to set their own salaries and benefits without government approval.

At a meeting of the Senate Standing Committee on Finance and Revenue, chaired by Saleem Mandviwalla, Senator Anusha Rehman highlighted that the SBP Amendment Act 2022 granted the central bank’s board of directors the power to determine the salaries and perks of the governor and deputy governors, with the board itself being led by the governor.

She termed this arrangement a “serious conflict of interest” and argued that it undermined the authority........

© Dawn Business