President claims immunity in Park Lane reference

President Asif Ali Zardari's legal counsel told an accountability court on Tuesday that his client, who was recently elected to the post, was entitled to presidential immunity.

Farooq H. Naik argued that the immunity shields President Zardari from further proceedings in the Park Lane reference case.

Accountability court Judge Nasir Javed Rana presided over the proceedings and heard the Park Lane reference against President Zardari and others. Farooq H. Naik represented President Zardari during the session.

Naik emphasised that President Zardari's status as the country's elected head granted him immunity from legal action, thus rendering the continuation of the case against him untenable.

Read Zardari, 18 others summoned in Park Lane reference

In response to Naik's argument, the court questioned whether the case proceedings would proceed against the other accused individuals. Naik clarified that legal action could indeed be pursued against them.

The National Accountability Bureau (NAB) prosecutor contended that this case pertains to a private bank. It will first need to be determined whether this court can even hear it, as per the existing laws.
He further said deputy prosecutor Azhar Maqbool Shah has presented arguments concerning other references, adding that he will also argue this reference at the next hearing.

Subsequently, the court adjourned the hearing until April 17.

In the mega money laundering charges, the former president, his sister and several of their business associates were being probed as part of a 2015 case involving fake accounts and fictitious transactions.

The main reference in the Park Lane case accused Zardari of influencing relevant authorities during his tenure as the president – from 2008 to 2013 – to obtain loans for his front companies.

Zardari allegedly received a loan of Rs1.5 billion released for Parthenon Private Limited “with ill intention”, and the money was later transferred for his personal use through fake bank accounts. NAB accused him of causing the national exchequer a loss of Rs3.77 billion.

The anti-graft body later filed a supplementary reference against Zardari in the Park Lane case, accusing him of using fake documents to acquire a bank loan for a dummy corporation.