Former PM remanded in custody till Feb 21

Shahid Khaqan Abbasi says govt’s time is up

ISLAMABAD: An accountability court in Islamabad on Tuesday further remanded former premier Shahid Khaqan Abbasi in judicial custody till February 21.

Abbasi, a member of the former ruling party, the PML-N, is being investigated for awarding a 15-year contract for a Liquified Natural Gas (LNG) terminal to a Qatari company in alleged violation of rules.

The contract was signed when Abbasi was petroleum minister in the cabinet of prime minister Nawaz Sharif. The case, closed by the National Accountability Bureau (NAB) in 2016, was reopened in 2018.

NAB, the country’s accountability watchdog, arrested Abbasi in July last year. The PML-N leader has now approached the Islamabad High Court (IHC) for a post arrest bail.

Last year, Bloomberg reported that Pakistan saved more than $600 million “over the first 10 years of a natural gas supply deal by pitting some of the world’s biggest sellers against each other”.

“The maneuvering by Pakistan came after two years of negotiations hit an impasse as Qatar refused to lower its offer price for LNG. So Pakistan sought leverage on the open market in late 2015, publicly seeking 120 cargoes in two large tenders,” the newspaper said of the deal negotiated by Abbasi.

After the hearing, Abbasi talked with the media and blamed the incumbent PTI government for the current economic crisis. “This government has been a failure since day one. The government’s time is up. We have only to say the government’s funeral prayers now.”

Abbasi said the days for public to worry are over. “Everything will be fine now,” he added.

Today’s proceedings

During the hearing, counsel for the Oil and Gas Regulatory Authority (OGRA) former chairperson Uzma Adil Khan – who is also an accused in the case – moved a petition against the order to submit Rs10 million surety bond for getting bail.

The defence emphasised that she could not pay the amount and assured the court that she would not leave the country. Promising full cooperation, Uzma proposed placing a property as surety. She said she was against the idea of borrowing money to pay for her bail. The bench reserved verdict on the plea.