NAB's request to reopen Hudaibiya Paper Mills case is against the law: Dar

NAB filed appeal against LHC order in September 2017


News Desk November 16, 2017
Ishaq Dar. PHOTO: REUTERS

Finance Minister Ishaq Dar termed National Accountability Bureau (NAB)’s plea to reopen the Hudaibiya Paper Mills case as illogical and against the law.

According to Express News, Dar made the comments on Thursday while responding to NAB’s appeal against an LHC order to quash an investigation into the Rs1.2 billion Hudabiya Paper Mills scam against the Sharif family.

He said that considering the LHC previously ruled in his favour and even the SC had not ordered the concerned authorities to start the investigation anew, NAB’s request is incomprehensible.

SC to hear NAB’s reopening plea from Monday

Almost 17 years ago, NAB had claimed that Sharif and his family received over Rs1 billion ‘through illegal and fraudulent means’ and that they were liable to be tried under anti-corruption laws. In 2014, the LHC quashed the Hudabiya Paper Mills reference against the Sharifs.

After the passage of three years, NAB filed an appeal against LHC order in September 2017.

In its appeal, NAB says the referee judge was not competent to set aside the findings of the high court in which NAB had been allowed to re-initiate investigations against Sharif family members.

Hudabiya Paper Mills: SC seeks details of 17-year-old money laundering case

Dar was nominated as an accused in the initial reference, but NAB’s final reference excluded him after he recorded a confession.

There was an unexplained investment of Rs642.743m appearing in the mill’s books as share deposit money. “This belonged to the directors, shareholders, and beneficial owners of the company, which they had fraudulently amassed under the garb of foreign equity investment,” said the final reference.

It said that in 1999, the company settled a loan with London-based Al-Towfeek Company for investment funds by making a payment of $8.7 million. The source of this payment also appeared to be questionable.

COMMENTS (1)

Aflatoon | 3 years ago | Reply I am glad to see that Mr Dar has at last found enough strength to speak as he was supposed to be completely speechless, bedridden for weeks - It is good to perform umra to seek forgiveness from Allah swt ,but Almighty says He will not pardon until people who have been mistreated have themselves forgiven - In the case of Shareefs and Dar , the whole nation has been exploited and robbed --Pakistanis should never forgive -Hope it is the end for all these thieves-and that they will be severelypunished in this world and the hereafter -Ameen -I am amazed at people who still try to find arguments to defend these wrongdoers or who are still adhering to his party of gang looting --Tu izzo man ta shao , wa tu zillo man ta shao -
Replying to X

Comments are moderated and generally will be posted if they are on-topic and not abusive.

For more information, please see our Comments FAQ

E-Publications

Most Read