PPPP resolution calls for sacking NBP president

Signed by Naveed Qamar, Nafisa Shah and others, resolution submitted in NA secretariat

ISLAMABAD: A resolution has been submitted in the National Assembly, seeking removal of National Bank of Pakistan (NBP) President Saeed Ahmed – a key suspect mentioned in the Panamagate Joint Investigation Team (JIT) report.

The Pakistan Peoples Party-Parliamentarians (PPPP) on Saturday submitted the resolution in the NA secretariat just days after it submitted a similar resolution for the removal of Zafar Hijazi as chairman of the Securities and Exchange Commission of Pakistan.

The resolution – signed by Syed Naveed Qamar, Nafisa Shah and other PPPP members –called for sacking the NBP president for “his role in laundering money” for the ruling Sharif family.

The six-member JIT – while submitting its report in the Supreme Court on July 10, regarding the Sharif family’s offshore assets – recommended that the NBP president – as well as Pakistan Sugar Mills Association Chairman Javed Kayani, a key witness in the Panamagate case – be put on the Exist Control List (ECL).



The report had also found SECP’s Hijazi involved in tampering with the record of the companies owned by the ruling family. Currently, Hijazi is in the custody of the Federal Investigation Agency (FIA) after his interim pre-arrest bail application had been rejected by a special court on Friday.

About Ahmed, the JIT report states that the process of money laundering had started in September 1991, and some suspicious transactions showed that funds amounting to $2.23 million were deposited in two accounts opened in the names of Ahmad and Mukhtar Hussain.



Subsequently, all the money from these accounts had been transferred to the accounts of Musa Ghani and Talat Masud Qazi through dollar bearer certificates (DBCs) to hide the source of the funds, according to the JIT report.

Before being appointed as NBP president, Ahmed was posted as deputy governor of the State Bank of Pakistan (SBP). According to some reports, before getting the SBP post, Ahmed was running a nursing home in London.