Nawaz acquitted in Flagship reference for lack of evidence

ISLAMABAD: An Accountability Court (AC) of Islamabad on Monday issued a detailed judgment of 69 pages in the Flagship Investment Reference against the former Prime Minister Muhammad Nawaz Sharif. The judge of accountability court, Arshad Malik, issued the detailed verdict declaring the NAB allegations against the former premier as ambiguous and lacking evidence.

The court declared that no one can be punished or fined until the allegations were proven and the NAB was unable to prove the allegations due to which the accused was released by giving him the benefit of doubt. The court declared that it cannot be denied that such assets do not belong to Nawaz Sharif and the details of Nawaz’s address to the nation cannot be used as documentary evidence. The NAB claims of establishing companies by Nawaz Sharif after selling Gulf Steel Mills also turned out to be bogus.

The order said that perpetual non-bailable arrest warrants for Hassan and Hussain Nawaz, the co-accused in the cases would be issued, and that their trial would be conducted after their return to the country.

The court stated that possibility of Nawaz having supplied Hassan with funds worth 705,071 Pounds from his undeclared wealth and assets held outside Pakistan cannot be ruled out completely, but noted that there is insufficient evidence to safely reach the conclusion.

The court declared that NAB was unable to produce evidence against the allegations of 13 companies in which Nawaz was indicted and it only produced record of 10 companies. The court declared that capital FZE was an admitted fact which cannot be denied. The accountability court in its short order on December 24 had acquitted the former premier in the Flagship reference filed by the NAB.