Supreme Court questions money trail of Sharif's London flats

'Sharifs also failed to explain how they financed construction of Jeddah Steel Mills'

Hasnaat Malik November 30, 2016
PTI leaders claim discrepancy in premier's statements and documents submitted in SC. PHOTO: REUTERS

ISLAMABAD: The Supreme Court on Wednesday questioned the money trail of the Sharif's London flats.

During the hearing, Justice Asif Khosa observed that there was no bank record of money being transferred from Pakistan to a foreign country. The apex court was hearing a case pertaining to the alleged offshore wealth of the premier's family in London.

Earlier, Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan's counsel Naeem Bukhari submitted a two-page summary of a transaction questioning the Sharif family's investment of Dhs 12 million in Qatar in 1980 despite owing the Bank of Commerce and Credit International (BCCI) Dhs 14 million.

Justice Azmat Saeed Sheikh remarked that the Sharifs had failed to explain how they had cleared the aforementioned dues in 1980. He also observed that the Sharifs had also failed to explain how they had financed the construction of Jeddah Steel Mills.

Panamagate case: PTI seeks to prove Sharif family owned London flats in 1999

The bench also observed that there was no similarity between the signatures of premier Nawaz Sharif's cousin Tariq Shafi on an affidavit and a contract presented before the court.

Bukhari also contended that the Sharifs had failed to produce a single document showing how money had been transferred from Pakistan to Dubai, Doha, Jeddah and London.

'Case stands dissolved'

Separately, PTI chief Imran Khan said the apex court had done the right thing by questioning the absence of a money trail as the Sharifs did not have the money they claimed to possess.

“Today’s proceedings in the apex court have exposed the discrepancy in the family’s documents and statements,” Khan told journalists. "Though the case is ongoing, it technically stands dissolved courtesy the aforementioned discrepancy," he added.

PTI chairman Khan has been pleading his case against the Sharif’s offshore wealth and to defend himself before a different bench of the apex court for allegedly concealing his sources of income.

The party claims to have come up with fresh evidence this week to press its stance that Sharif’s London properties had been purchased in the 1990s rather than the ruling family’s claim of buying them in 2006.

On Monday, during the hearing, the PTI contended that the Sharif family owned both Nelson and Nescol companies in 1999. According to party sources, the new ‘evidence’ was brought from London.

Panamagate scandal: Judiciary will decide case on merit: Qureshi

On November 15, Prime Minister Nawaz Sharif and his daughter Maryam Nawaz submitted 'documentary evidence' on the legitimacy of their assets before the top court, claiming a Qatari prince paid for their London apartment.

On November 3, the premier denied holding offshore companies in a written response to the Supreme Court on Panamagate petitions. In his reply, the PM said he had declared all his assets in 2013, hence was not liable for disqualification under Articles 62 and 63 of the Constitution.

A treasure trove of classified documents leaked from a Panama-based law firm Mossack Fonseca in April revealed that three scions of the Sharif family were among dozens of powerful people who owned offshore businesses across international tax havens.


Pea Brain | 5 years ago | Reply @RF: Oh please, 'betterment' is not a word. How can he use a non-word as an implied verb for his country? Care to work on your own misgivings?
Ranjha | 5 years ago | Reply @RF: Thanks. I am!
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