ISLAMABAD: Three Hajj tour operators Hajj businesses eportedly linked to a close associate of Maulana Fazlur Rehman have come under regulatory scrutiny after Pakistan’s corporate watchdog issued show-cause notices against them failing to disclose legally required information about their beneficial owners.
ISLAMABAD: Questions over the ownership and transparency of three Hajj tour operators reportedly associated with Mufti Abrar, a close ally of Jamiat Ulema-e-Islam-Fazl (JUI-F) chief Maulana Fazlur Rehman, have intensified after Pakistan’s corporate regulator issued show-cause notices to the companies over alleged violations of mandatory disclosure requirements.
The Securities and Exchange Commission of Pakistan (SECP) has issued notices to Sajjad Travels & Tours, Al Rehab International and Shukar Al Faizan Travels, directing them to explain why they allegedly failed to submit required beneficial ownership information and maintain or disclose ownership records in accordance with the Companies Act, 2017.
The regulatory action has raised serious questions about who actually owns and controls these businesses and why legally required ownership information was allegedly not provided.
Al Rehab International has specifically been directed to submit details of its beneficial owners for 2023. The other two companies have also been asked to explain their alleged failure to comply with the relevant legal requirements.
All three companies have been given 14 days to respond to the notices.
The disclosures have placed the reported business connections of Mufti Abrar, described as a close associate of Fazlur Rehman, under renewed scrutiny.
The central issue is not merely the alleged failure to submit corporate paperwork. It is the lack of clarity surrounding the individuals who ultimately own or control companies operating in the Hajj travel sector, where transparency and accountability are particularly important.
Several questions now demand answers: Who are the actual beneficial owners of these companies? Why were the mandatory ownership disclosures allegedly withheld? What is the precise nature of Mufti Abrar’s business relationship with the three operators? And does Fazlur Rehman have any direct or indirect connection with their business activities?
The SECP notices provide an opportunity for the companies to explain their position. However, their responses and any subsequent regulatory findings will be crucial in determining the extent of the alleged violations.
For now, the ownership questions surrounding the three Hajj operators remain unanswered
