Committee to probe allegations levelled by Panama JIT on SECP

ISLAMABAD: A four-member committee has been constituted to investigate the alleged changes made in records--required by the Panama Joint Investigation Team(JIT)--by Securities and Exchange Commission of Pakistan and other institutions.

Formed by the acting chairperson of Federal Investigation Agency, Captain (retd) Ahmed Latif, the committee will be headed by Anti-Corruption Wing Director Maqsood-ul-Hassan. Besides the director, it will include deputy directors, Ayaz Khan, Farooq Latif and Tahir Tanvir.

The decision has been taken after the JIT complained against the SECP and other institututions for tampering with records.

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In its second report submitted to the Supreme Court, the JIT has alleged that the SECP Chairperson Zafar-ul-Haq Hijazi and Executive Director Ali Azeem were tampering the records of Chaudhry Sugar Mills the team had asked for. The JIT stated it also asked for the documents of all the past enquiries carried out against the Sharif family, but the SECP denied of any such enquiry being carried out in the past.

"A witness said that the SECP chairperson directed that the record of enquiries not be searched," stated the report. "The SECP chief also ordered the tampering of records of Chaudhry Sugar Mills and Azeem changed it from the past dates. Azeem was also nominated by the SECP chairperson for inclusion in the JIT, to sabotage investigation."

Besides SECP, the JIT also complained of the Federal Board of Revenue of not providing the required records and the Ministry of Law for delaying, by five days, a letter needed for investigations abroad.