Ex-SECP chairman Zafar Hijazi granted bail

The bail plea of Zafar Hijazi, former chairman of Securities and Exchange Commission of Pakistan (SECP), has been approved in record tampering case.

Special judge central has ordered to release the former SECP chairman forthwith. His bail was accepted on the two surety bonds of Rs 0.5 million each.

It was revealed that on June 29, 2016, Zafar Hijazi had ordered Ali Azeem and Maheen Fatima to close the inquiry of Chaudhry Sugar Mills in the back date of January 2013. He also pressurised his subordinates to tamper the records.

The inquiry committee recorded the statements of 12 officers and found Hijazi guilty of “misconduct by passing illegal orders and pressuring his subordinates to do illegal acts.”

On July 22, 2017, Federal Investigation Agency (FIA) arrested Zafar Hijazi from the premises of Islamabad High Court.