JIT recommends filing of reference against PM, sons with NAB

July 10, 2017





ISLAMABAD: The Joint Investigation Team (JIT) probing the Panama Papers has recommended filing of a reference against Prime Minister Nawaz Sharif, daughter Maryam Nawaz and his sons Hasan Nawaz and Hussain Nawaz under Section 9 of the National Accountability Ordinance.

According to the 254-page report submitted in the apex court on Monday, Sharif family has failed to produce the money trail of their assets in London and means of income.

Noting that the Sharif family’s lifestyle does not match their income, it said the ruling family may be deemed guilty of violating the NABs' reference.
 The Prime Minister and his sons and daughter Mariam Nawaz were not able to justify their income and assets, it noted, adding the Maryam Nawaz has been proved the beneficial owner of Nielsen and Nescoll.

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The JIT report, a section of which has been circulated on media, suggests that a reference should be filed against Prime Minister Nawaz Sharif, his sons Hassan Nawaz and Hussain Nawaz, as well as daughter Maryam Nawaz under Section 9 of the National Accountability Bureau (NAB) ordinance 1999.


The JIT has found that the assets of all four respondents are more than the sources of their income.


"Significant gap/disparity amongst the known and declared sources of income and the wealth accumulated by the Respondent No. 1, 6, 7 and 8 have been observed," the JIT observed in its concluding remarks.


"The financial structure and health of companies in Pakistan having linkage to the Respondents also do no substantiate the wealth of the Respondents," it continued.


"Moreover, irregular movement of huge amounts in shape of loans and gifts from Kingdom of Saudi Arabia-based company (Hill Metals Establishment), United Kingdom based companies (Flagship Investments Limited and others) and United Arab Emirates based Company (Capital FZE) to Respondent No. 1, Respondent No. 7 and Pakistan based companies of Respondent No. 1 and family have been highlighted.


"The role of off-shore companies is critically important as several offshore companies [...] have been identified to be linked with their businesses in UK while conducting this investigation. These companies were mainly used for inflow of funds into UK based companies; which not only acquired expensive properties in UK from such funds but also revolve these funds amongst their companies of UK, KSA, UAE and Pakistan."


"In addition to the companies, Respondent No. 1 and 7 have been found to be recipients of these funds movement into Pakistan as gifts/loans whose purpose/reason have not justified by them before the JIT. Needless to say, these UK companies were loss-making entities with heavily engaged in revolving of funds vis-a-vis creating a smoke screen that the expensive properties of UK were due to the business operations of these UK companies."




According to sources, the JIT's report has been shared with Prime Minister Sharif by Attorney General and his legal teams.

The JIT submitted the final report of the investigation to the special bench of Supreme Court (SC) today (July 10) as the term designated came to a close on Monday.

JIT comprising of its head, FIA's Wajid Zia, Amer Aziz of the State Bank of Pakistan, SECP Executive Director Communication Bilal Rasool, Irfan Naeem Mangi of National Accountability Bureau, Brigadier (retd) Nauman Saeed of the Inter-Services Intelligence and Brigadier Kamran Khurshid from the Military Intelligence brought the report in a box labeled as "Evidence".

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Wajid Zia said that the report comprises of 10 volumes and Volume No. 10 will be used for further investigation in the case.

In the hearing, the court ordered the concerned officials to name the person to leaked the Hussain Nawaz's picture on which Attorney General Ashtar Ausaf said that the federal government has no problem in doing so.

Justice Ejaz Afzal, in his remarksm, said that JIT itself has investigated the matter and they should not be used.
The court rejected government's plea of forming a comission for the investigation of Hussain Nawaz's JIT picture leak. Justice Aijaz-ul-Ahsan said, "the government can make a commission if it wants."

When asked who was responsible for the record tampering, attorney general stated that Federal Investigation Agency (FIA) has held Securities and Exchange Commission of Pakistan (SECP) Chairman Zafar Hijazi for it.

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Justice Ejaz-ul-Ehsan said that that SECP official were threatened of being transferred to Gilgit if they would testify against its chairman. "Hijazi lied to the court," he remarked.

"Telling lies to the court is creating hurdles in the path of providing justice," Ahsan said.

A case was filed against Hijazi over tampering the records regarding the offshore wealth of Sharif family.

Justice Sheikh Azmat said that the investigation of record tampering should also take place. "The name of the official, who tampered the records, should come out in the open," he remarked.

The court asked who is the owner and publisher of Jang Group on which the media agency's reporter Sohail Khan replied that Mir Shakil-ur-Rehman owns the company while Javed-ur-Rehman is its publisher.

The court issued court contempt notice to the media agency over false report and has sought a reply from the company within seven days.

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A show cause notice was issued to The News reporter Ahmad Noorani.

The court remarked that a reporter approached a judge on telephone and told him that judges only sit in the court.

The bench asked when did the court allow Inter Services Intelligence (ISI) to interfere in JIT's affairs.
The court has also sought the transcipt of speeches made by Pakistan Muslim League - Nawaz (PML-N) leaders Khawaja Saad Rafique, Khawaja Muhammad Asif, Asif Kirmani and Talal Chaudhry.

Supreme Court of Pakistan also ordered the concerned authorities to provide full security to the JIT members whereas the investigation officials have been ordered to clear the secretariat within 10 days.

The court adjourned the hearing of the case till Monday.