ISLAMABAD (Kashmir English): Three Hajj tour operators reportedly linked to Mufti Abrar, a close ally of JUI-F chief Maulana Fazlur Rehman, have come under scrutiny after the Securities and Exchange Commission of Pakistan (SECP) issued show-cause notices over their ownership disclosure records.
The companies facing regulatory scrutiny are Sajjad Travels & Tours, Al Rehab International and Shukar Al Faizan Travels. These firms are reportedly associated with Mufti Abrar, a close ally of Jamiat Ulema-e-Islam (JUI-F) chief Maulana Fazlur Rehman.
According to available details, the SECP has directed the companies to explain their failure to submit the required beneficial ownership information and maintain the necessary ownership records in accordance with the law.
In particular, Al Rehab International has been asked to provide details of its beneficial owners for 2023, while Sajjad Travels & Tours and Shukar Al Faizan Travels have also been directed to respond to questions concerning their ownership disclosures and regulatory compliance.
The SECP has given all three companies 14 days to submit their responses to the notices.
The development has raised questions about the actual beneficial ownership of these Hajj tour operators, the reasons behind the missing disclosures, and the nature of Mufti Abrar’s business connections with the companies.
The companies’ responses are awaited, while the regulatory proceedings are expected to clarify their ownership structures and compliance status.
