The Senate Standing Committee for Trade has taken notice of the rapid increase in salaries and requirements of senior officials in several state businesses, in which some of the heads appear to double their salaries in a short period.
During the recent meeting of the committee, headed by Senator Anusha Rehman, some CEO’s salaries allegedly doubled within a short team, and the extent reached maximum rupees. 3 million months.
The members expressed concern over the excessive salaries and requirements of senior officials in government agencies such as National Insurance Company Limited (NICL) and State Life Insurance Corporation (SLIC).
Official documents have revealed that NICL CEO, Pamanullah Zarkon, pulls monthly salary monthly salary. 3.07 million, while Shoaib Javed Hussain, CEO of State Life, RS. 3.04 million per month.
Both also get two government vehicles, security guards, club membership, 500 liters or petrol, family medical coverage, group insurance, mobile phones, and laptops as part of their benefits.
The documents further stated that the CEO of Pakistan Insurance Company receives Rs 2.4 million, while the CEO of Pakistan Expo Centers earns Rs. 1.87 million monthly.
Trading Corporation of Pakistan (TCP) CEO, Syed Rafi Bashir Shah, is pulling the total salary of Rs. 873,000 each month, which RS. 619,000 after tax deductions.
Committee chairperson Anusha Rehman questioned the standard behind such a rapid increase, indicating that in many cases, officers were hired. The salary of 500,000 per month doubled within six months, eventually rising RS. 2-3 million in the last few years.
He remarked that the 10 -month salary bonus was also given without the performance or achievement of performance, which he has termed a violation of the quality of good governance.
He stressed, “Such payments should be strictly performance.”
He added, “If the salary is Rs 3 lakh, it should be clearly mentioned in the recruitment advertisement.”
He called for amending the SOE Act and limiting the board’s controversial powers in fixing the SOE Act and setting an executive salary. It also proposed to fix the CEO’s salaries for three years to ensure transparency and consistency.
According to The briefing, the former CEO of NICL has paid a monthly salary rupees. 1.5 million in January 2022, which increased. 2 million, RS in 2023. 2.4 million in 2024, and RS. 2.88 million in 2025.
The Secretary of Commerce, Jawad Pal, informed the committee that in January 2023, a new public -owned businesses (SOE) laws were enforced, which gave the new sovereign board of directors to determine the salaries and benefits of the CEO.
Federal ministries no longer control these boards. However, “some institutions, including the SECP and the State Bank, are not fully implementing the rules and regulations.”
The Ministry of Commerce has then submitted detailed records of eight government companies, in the list of all the CEO’s salaries and facilities, for further investigation by the Senate Committee.
The committee will continue to consider the matter in its next meeting so that it can be decided whether the increase was legal and morally legitimate.