ISLAMABAD - Likewise the malpractices in other sectors, even after three and half years, the incumbent government is blatantly keeping the countrys corporate watchdog Security Exchange Commission of Pakistan (SECP) incapacitated in order to facilitate cronies of the high-ups looting and plundering in the securities and stock markets. Although, the SECP Act of 1997 necessitate the government to appoint minimum five to maximum seven Commissioners as per the need of the hour. The law empower the SECP as made of prescribed number of commissioners one of whom is to be appointed as Chairman. On the other hand, the incumbent government even after three and half years of its rule never bothered to pay attention to SECP that continued to suffer from lack of top management workforce. In the past absurdly, the Commission remained with full numerical strength of commissioners as prescribed for a brief period of time until 2003. However, onward it prey to different conspiracies initiated to gain the vested interests. At present the Commission has only two instead of five, one is Chairman Muhammad Ali who was appointed in December 2010 after the Sulman Sheikhs term expired in Novemeber, 2010, while the second one is Tahir Mehmood. The deliberate negligence for not appointing the full number could explain the state of the countrys corporate watchdog that is supposed to be independently reining in the ruthless mafia in stock market and elsewhere. Sources in federal government revealed that since its creation SECP remained under fire from the powerful mafia in the corporate sector. From day one the big mouth of brokers and heavyweight investors remained busy waning the SECP that was set up in place of its predecessor Corporate Law Authority, the defunct attached department of the Finance Ministry. Sources added that another main reason for not appointing the commissioner was non-existence of transparent recruitment mechanism with the government. As top guns in ministry of finance and in the countrys top offices yearn for appointing their blue eyed on such top positions. There is need of true spirit and will to proceed with the hiring through transparent recruitment process, however the vested interest of the top guns was main hindrance in the way of appointing the rest of three commissioners at SECP, sources added. When contacted finance secretary who is the chairman of SECP board, said that since his joining he has appointed the right person presently working in the capacity of chairman SECP. However he said government is seriously considering few competent candidates for the positions of commissioner and these appointments will be made very soon, he assured.