Zafar Hijazi granted bail


ISLAMABAD Aug 8 (TNS): The Special Court (FIA) Central on Tuesday granted bail to former chairman Securities and Exchange Commission of Pakistan (SECP) Zafar Hijazi against furnishing two surety bonds of Rs0.5 million each in record tempering case.

Judge Erum Niazi pronounced the reserved judgment, allowing post-arrest bail application of the former SECP chairman.

The judge after hearing the bail application had reserved verdict on August 2 which was announced on Tuesday.

Hijazi was taken into FIA custody last month after a report released by the joint investigation team, probing Prime Minister Nawaz Sharif and his family’s wealth, alleged that the former SECP chairman had altered records related to Chaudhry Sugar Mills.

A case was registered against Hijazi on the orders of the Supreme Court after the three-member Panama Papers case implementation bench acted on the JIT report.

The first information report against the former SECP chairman was registered under Sections 466 (forgery) and 471 (using forged documents as genuine) of the Pakistan Penal Code (PPC), read with Section 5(2)(47) of the Prevention of Corruption Act, at FIA’s Special Investigation Unit (SIU) in Islamabad.