Published on, Aug. 25 -- August 25, 2025 12:46 AM

The rare public rebuttal issued by SECP against the Auditor General of Pakistan's findings has escalated into a constitutional debate, with governance experts warning it sets a dangerous precedent for autonomous bodies resisting federal audit oversight.

Dated August 23, the statement marks the first time a central regulatory has directly challenged AGP authority through public messaging rather than parliamentary or DAC channels, a move analysts call a breach of institutional decorum.

At the heart of the dispute is SECP's invocation of the SECP Act 1997 to justify autonomy from federal financial controls. This act, passed to regulate the securities market and protect investors, is being ...