No trace of Swiss money, SC told

Published: October 13, 2010
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The report claims there is no trace of money in Swiss accounts.

The report claims there is no trace of money in Swiss accounts.

Newly-appointed National Accountability Bureau (NAB) Justice (retd) Syed Deedar Hussain Shah on Tuesday submitted his first report about implementation of the NRO verdict in the Supreme Court.

The report, which was not made public, claims that there is no trace of money of President Asif Ali Zardari in the Swiss accounts, nor is the anti-graft body aware of the status of his cases in Madrid and London. The report says that former attorney general Malik Qayyum only once wrote a letter to the Swiss authorities for the closure of graft cases but the authorities in Madrid and London themselves closed the cases. However, the forum concerned has been approached to initiate proceedings against Malik Qayyum.

The report claimed that all the NAB cases have been reopened right from the stage they were closed at after the proclamation of the National Reconciliation Ordinance (NRO) in 2007.

A 17-member larger bench headed by Chief Justice Iftikhar Muhammad Chaudhry will resume hearing of both the cases on Wednesday (today).

Showing leniency, the court had earlier given time to the government to file a review petition, despite the matter being time-barred. Government attorney Kamal Azfar later requested the court for leave of absence whereupon the apex court fixed the case hearing on October 13 and constituted a 17-member larger bench.

However, upon Kamal Azfar’s return home, the government continued dithering over the issue and appointed Azfar adviser to the PM, a move the apex court rejected on Monday.

During the last hearing of the NRO implementation case, the apex court had directed the NAB authorities to present a para-wise implementation report which the new NAB chairman submitted but not fully in line with the court’s direction.

Published in The Express Tribune, October 13th, 2010.

Barrister Iftikhar Ahmad has written a three-part in-depth analyses of the Swiss cases for the Express Tribune which can be viewed here, here and here.

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Reader Comments (14)

  • Anonymous
    Oct 12, 2010 - 6:25PM

    Have the dollars simply evaporated. This is the news of the century. No one not even NAB has a clue to where the money has gone. Too bad, hard-earned income of the president has just slipped out of his accounts. Read more at:link textRecommend

  • Oct 12, 2010 - 7:06PM

    This is exactly the reason why Mr Deedar Shah was appointed. In the process if Pakistan becomes a haven for the corrupt, it does’nt bother the present rulers, for they and their family members have already settled abroad with all their assets and illgotten money. It is time for an across the board accountabilty of all, inclusive of PPP, PML(N), PML(Q), PML(F), MQM, ANP, JUI etc. No wonder the daylight robbery continues such as the Bahria scam, Railway locomotive and Railway Golf Club land scam, NIC land procurements, Sugar cartels, PASSCO, Rental Power etc etc etc. Recommend

  • Mahmood
    Oct 12, 2010 - 7:26PM

    “the newly appointed NAB Chairman Deedar Shah, claims that there is no trace of money in the Swiss accounts of the president.”

    Which leads me to the fundamental question – why did the president have the Swiss accounts in the first place? If the nation knows any better, the reason for all these deliberate delays and excuses might very well be so that he can shift his funds to better hiding places.Recommend

  • Ali
    Oct 12, 2010 - 7:43PM

    maybe the money has been moved to another country! Dubai or some other tax haven!Recommend

  • Dr. Asad Sadick, Germany
    Oct 12, 2010 - 7:58PM

    AZ is too clever for everyone…even for the CJ. WOW!Recommend

  • Oct 12, 2010 - 8:22PM

    Swiss accounts are the favourite of this world’s drug mafia, mobsters, corrupt rulers, robbers, oil mafia and those who need to hide their wealth. What was the reason for Mr Zardari to open a Swiss Bank account. The Indian government has recently got a landmark decision, whereby money belonging to the state, and deposited in Swiss accounts will have to be returned back to the state, provided such money is declared as such by the Indian Judiciary. The question is–Will the establishment in Pakistan strive to get such a concession from Swiss Banks, because this would be against their own self interest?. In Pakistan, the sitting government, Attorney General and NAB Chairman itself are biggest stumbling block.Recommend

  • Oct 12, 2010 - 9:00PM

    Expect More.Recommend

  • K Hasan
    Oct 12, 2010 - 10:46PM

    NAB may be napping but Media is not sleeping.Recommend

  • Umair Mallick
    Oct 13, 2010 - 12:01AM

    How long will the robbers run? Its too late now…

    Time is coming.Recommend

  • Oct 13, 2010 - 12:23AM

    Where the looted money has gone from the swiss banks? This is a million dollar question. Recommend

  • Siraj
    Oct 13, 2010 - 2:19AM

    Great job sir. Very clearly communicatedRecommend

  • Tariq Nasim
    Oct 13, 2010 - 10:43AM

    Jeeeeyyyyaaaaa Jaaaammhoooorrrriiiiiiaaaat………
    oooo yaaaa…… See there is no issue…. Expecting more with new elite generation to have more

    What a countryRecommend

  • Shani Syed
    Oct 13, 2010 - 7:21PM

    And you were expecting the money will be bought back to Pakistan and be utilized on national interest?Recommend

  • Oct 14, 2010 - 11:51PM

    nab will be win the prize of world’s biggest liar of the worldRecommend

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