My children facing charges; judicial commission to probe issue: PM

Says no member of Sharif family indulged in dishonesty; not even a penny written off; Sharif family also paid those loans which were not due

ISLAMABAD: Prime Minister Nawaz Sharif on Tuesday said that after allegations against his children surfaced in the Panama Papers, a high-level judicial commission under a retired judge of the Supreme Court of Pakistan will probe the whole issue.

Addressing the nation over TV and radio, the prime minister announced that the commission will unearth the facts and probe the allegations. “The commission will investigate the allegations and give its verdict so that facts become clear to all,” the prime minister said.

The premier stated that certain individuals are involved in point-scoring and are digging up issues from decades ago. “My family has faced a barrage of accusations,” he said.

Regarding the business ventures of his sons, Nawaz said Hassan and Hussain Nawaz are residing in London and Saudi Arabia since 2000 and 1994, respectively. “Both of my sons have been working under the legal ambit and rules and regulations of the aforementioned countries,” he said.

The premier invited all politicians hurling allegations against him and his family to present evidence of any financial wrongdoing before the judicial commission. Nawaz said that he was compelled to respond to the politically-motivated allegations against the Sharif family making the rounds on the media.

Nawaz gave a detailed background of the business of the Sharif family and said the foundations of the business were laid many years before the establishment of Pakistan. He recalled that his father founded the Ittefaq Foundry in Lahore before the creation of Pakistan way back in 1936, which became a stable industrial empire 1936 which became a stable industrial empire till creation of Pakistan. “One of its branches was also established in then East Pakistan, Dhaka, which became victim to fall of Dhaka in 1971,” he said. Nawaz reminded that within 15 days of fall of Dhaka, the then government of Zulfikar Ali Bhutto nationalised Ittefaq Foundries, which had become the largest steel, machinery and engineering industry in West Pakistan.

"On Jan 2, 1972, Bhutto took over the foundry in Lahore, and hence our assets were lost in mere moments," he premier said. Nawaz said that his father did not lose heart and within 18 months during the ZA Bhutto rule, again established six new factories out of affection for the country and motherland.  

"My family was not involved in politics till much later, as such, even before I got into politics, we were an established industrial family," Nawaz said. The prime minister said he or his family did not get any undue benefit or indulged into dishonesty while remaining in power. He said his family did not write off even a single penny and even paid those loans which were not to be paid by them.

Explaining further, Nawaz said that his father established another industrial plant in Makkah, following the military coup in 1999. The plant was "later sold, and my sons invested the funds into their businesses." The prime minister said that neither he nor any of his family members got any debt or mark-up written off. Nawaz said that despite repeated efforts to ruin their business in the past, he and his family paid outstanding amount of about Rs6 billion. “I want the nation to decide for themselves the reality behind these allegations which are being levelled for the last 25 years.” 

In an official statement a day earlier, Sharif family made it clear that none of the corporations mentioned in Panama Papers were owned or run by Nawaz Sharif.