Abb Takk News

SECP Chairman Sent on 4-day Physical Remand

Rehan Dashti

Islamabad (July 22, 2017): An special court (FIA) on Saturday remanded Securities and Exchange Commission of Pakistan (SECP) chairman, Zafar Hijazi, in FIA custody for four days in record tempering case

On Saturday, Hijazi was produced before the special court. FIA investigators sought physical remand of Hijazi in the record tempering case.

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Hijazi’s counsel opposed the FIA plea, arguing that investigation from Zafar Hijazi has already been completed.

“Why physical remand of his client is sought, whether the FIA has to recover something from him,” he questioned.

FIA prosecutor told the court that Hijazi was facing charges of misuse of powers and pressuring subordinates to temper with record.

He sought 10 days remand of Hijazi which the court rejected. The court gave only 4-day remand of Hijazi directing FIA to produce the accused in the court on July 26, 2017.

On Friday, the FIA took Hijazi into custody from the premises of the Special Court Central, where he had appeared for the confirmation of his pre-arrest bail.

The Joint Investigation Team (JIT) – which had probed into the Sharif family’s offshore assets in line with the apex court’s April 20 verdict in the Panamagate case – alleged that the SECP chairman tampered with records of the Sharif’s sugar mills.

Subsequently, the FIA launched an investigation into the allegations on the directives of the Supreme Court, and later endorsed JIT’s claim.

On July 10, FIA’s Special Investigation Unit (SIU) lodged an FIR against him under Sections 466 and 471 of PPC read with 5(2)47, the Prevention of Corruption Act.

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However, the Islamabad High Court granted him a transitory bail against surety bonds of Rs10,000 till July 17 with directions to appear before the proper forum. Later, the special court also granted him a bail against a surety of Rs0.5 million till July 21.

However, the court rejected the bail plea and Hijazi was arrested by FIA. Hijazi fell ill in FIA custody and subsequently he was rushed to PIMS hospital hours after his arrest. Since then Hijazi is under treatment at PIMS and was brought to the court from hospital.

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