ISLAMABAD: With the registration of an FIR against Securities and Exchange Commission of Pakistan Chairman Zafar Hijazi, his appointment as SECP Commissioner is likely to be de-notified today (Tuesday) by the finance ministry.

A senior ministry official said there were discussions at the closing hours and the finance minister was observing the situation, but the action by the FIA was quite late.

Rules of the SECP Amendment Act (2016) related to the appointment of commissioners stated that a commissioner charged with any crime would be suspended, the of ficial added.

There were rumours circulating on the electronic media late night and some private TV channels even reported that Mr Hijazi had been removed from the post.`We have not received any official confirmation in this regard and it will be released as soon as any directive from the finance ministry is received,` a spokesman for the SECP said.

The notification to be issued by Investment-II (wing) of the Ministry of Finance would de-notify Mr Hijazi as SECP Commissioner and give the acting charge to the most senior commissioner in the corporate sector regulator.

The most senior commissioner in the SECP, Tahir Mahmood, is abroad on leave till July 20. He has been associated with the Corporate Law Authority since 1989, which was later converted into the Securities and Exchange Commission of Pakistan.

Mr Hijazi, a Chartered Accountant by profession, was appointed SECP Chairman on Dec 19, 2014. He previously served the organisation from Jan 1, 1999 to Dec 31, 2003 as commissioner company law, administration and enforcement division.