Tuesday, January 25, 2022  | 21 Jamadilakhir, 1443
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Govt disowned Panama JIT report in London court: Musaddik Malik

Says it disputed assets and their value in the report

SAMAA | - Posted: Jan 22, 2021 | Last Updated: 1 year ago
SAMAA |
Posted: Jan 22, 2021 | Last Updated: 1 year ago

The PTI government refused to acknowledge the report of Panama Papers joint investigation team in the London High Court in 2019, PML-N leader Musaddik Malik claimed Friday.

The Supreme Court of Pakistan had formed the JIT after the Panama Papers leak. The team, comprising officials of the ISI, MI and other institutions, had compiled a 10-volume report against former premier Nawaz Sharif.

Nawaz was sent home based on the findings of the Panama Papers JIT. UK-based firm Broadsheet LLC gave a reference of Panama Papers JIT report when it sued Pakistan in 2016 for not paying its dues.

The JIT had evaluated the Avenfield Apartments, owned by the Sharifs, in its report. Broadsheet demanded its share from Pakistan according to the amount mentioned in the JIT report.

The PTI government filed an appeal in the London High Court in 2019, Malik said on SAMAA TV’s show Sawal Friday night. It disputed the assets and their value mentioned by the Panama Papers JIT, he said.

Broadsheet LLC was hired in 2000 by General Pervez Musharraf’s government to recover assets stolen by the past Pakistani governments.

The contract expired in 2003 and the firm alleged it was not paid. It sued Pakistan in the London Court of International Arbitration in 2016 and won an award of $21 million in 2019.

Islamabad appealed the decision in the London High Court and the award was increased to $33 million.

UK authorities recently seized $28.7 million from the Pakistan High Commission’s account and the rest remains payable.
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Pakistan, Broadsheet, Panama Papers, PTI, government, Nawaz Sharif, Sawal, Musaddik Malik
 

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