Fazl-linked Hajj operators hit by SECP notices

ISLAMABAD:

JUI-F chief Maulana Fazlur Rehman has found himself on the radar of different government authorities after his scathing criticism of the federal government following the imposition of emergency and governor's rule in Khyber-Pakhtunkhwa (K-P).

Last week the Capital Development Authority (CDA) issued notices regarding alleged construction irregularities at his Islamabad residence and some seminaries associated with his party.

Now the Securities and Exchange Commission of Pakistan (SECP) has issued show-cause notices to three Hajj tour operators allegedly linked to Mufti Abrar, a close ally of Fazl, over alleged irregularities in their ownership records.

According to a new report, the regulator identified alleged discrepancies in the ownership records of three companies associated with Al Afuw Munazzam and reportedly linked to Mufti Abrar's family members and associates.

The companies named in the notices are Sajjad Travels and Tours, Al-Rehab International and Shukar-ul-Faizan Travels. The SECP sought explanations from the companies for their alleged failure to submit the required information about their beneficial owners.

It also issued show-cause notice to Shukar-ul-Faizan Travels over alleged non-compliance with legal requirements.

It served a notice to Al-Rehab International for failing to submit the prescribed beneficial ownership information for 2023, while asking Sajjad Travels and Tours to explain its failure to provide the required ownership records.