Sharif's fate hangs in balance

Verdict in Al Azizia, Flagship references to be announced

ISLAMABAD: In compliance with the order of the Supreme Court, the accountability court is all set to announce the verdict in Al Azizia Steel Mills and Flagship Investments references against former prime minister Nawaz Sharif today (Monday).

Sharif arrived in Islamabad from Lahore on Sunday and met his younger brother and Leader of Opposition in the National Assembly Shehbaz Sharif at the Ministers’ Enclave.

Judge Muhammad Arshad Malik is expected to announce the judgement in the two references in the morning, while security has been tightened around the judicial complex.

The National Accountability Bureau (NAB) had appealed that the former prime minister be convicted on the charges of possessing assets beyond known sources of income under NAB Ordinance Section 9A5.



If the charges are proved, Sharif can be awarded 14 years imprisonment and a fine. According to Section 9A5, “A public office holder found involved in corruption or corrupt practices, or he himself or his dependent or benamidar has property or assets which are not in line with his income, the section will be applicable.”

The assets exceeding the income and made by corruption could be confiscated by the government.

NAB’s case states that Hussain Nawaz, the elder son of Nawaz Sharif, established Al Azizia Steel Mills in 2001 and Hill Metals Establishment in 2005 with an overall investment of 5.4 million dirhams and did not provide the money trail.

NAB, through its evidences, tried to prove that 88 per cent of the profit of Hill Metals was sent to Sharif in his Pakistani bank accounts, while Sharif was the real owner and Hussain benamidar.

Without offering defence, Sharif said Al Azizia and Hill Metals were of Hussain, adding that the money coming from Hussain was transferred through legal channels.

In the Flagship Reference, NAB tried to prove that Hasan Nawaz was the benamidar of Sharif. NAB tried to prove that in 2001, Hasan created 16 companies, including Flagship Investments and Capital FZE with an investment of 4.2 million dirhams.

Sharif also did not offer defence in the Flagship Investments case, saying that the business belonged to Hasan and he (Nawaz) had nothing to do with the businesses.

Hasan and Hussain were co-accused but on their continuous absence, the court declared them absconders. Hasan and Hussain did not remain part of this trial and the court separated Sharif’s case.