Nawaz didn’t answer opposition’s key question

ISLAMABAD: Keeping aside shocking walkout of the opposition which raised many eye brows in Parliament and across the country, this remains a fact that Prime Minister Nawaz Sharif didn’t answer the key question about setting up offshore companies, especially Nielsen and Nescoll, in early 1990s.

The opposition instead of responding to the prime minister’s speech and raising deficiencies in premier’s clarifications on the floor of the Lower House of Parliament opted not to become part of parliamentary proceedings and staged a walkout. The prime minister on the other hand avoided answering main question regarding setting up of offshore company Nescoll Limited on January 27, 1993 which purchased flats 17 and 17-A of Avenfield House, Park Lane, London, on June 1, 1993 and July 23, 1996 respectively and Nielson Holdings Limited which was incorporated on April 14, 1994 and purchased flats 16 and 16A of Avenfield House, Park Lane, London on July 31, 1995 and July 31, 1995 respectively. Most importantly UK high court decisions in Hudabiya Papers Mills loan default case on March 16, 1999 and November 5, 1999 showed that Sharifs acquired loan for Hudabiya on February 15, 1995 by pledging the London property. The 2013 general elections nomination forms filed by Prime Minister Nawaz Sharif show ‘Hudabiya Papers Mills’ as one of his companies.

Prime Minister Nawaz Sharif in his Monday speech on the floor of the National Assembly did narrate some new facts and admitted owning London flats but couldn’t explain as to why the offshore companies which own these flats were not reflected in income tax returns, wealth statements and nomination papers filed by the members of his family concerned with relevant authorities.

The Panama Papers confirm the ownership of these offshore companies, Nescoll and Nielsen, by Mariam Nawaz from 2006 to 2014 but these were not declared by her and her husband. She might have transferred the beneficial ownership of these companies to some other member of the family afterwards but these companies were owned by her from 2006 to 2014, a fact which is proved through Panama Papers. Not declaring the offshore companies is the key question, just like in case of PTI chief Imran Khan, these companies remained involved in transactions other than merely owning flats. Both sides present their excuses for not declaring the offshore companies in their returns and asset statements.

Prime Minister has not come up with answer to this key question which he and his family will ultimately have to answer one day. Had opposition highlighted these points on the floor of the House, it would have strengthened the institution of Parliament and its values and most importantly common people would have come to know about real facts and real questions still unanswered.

Desires to subvert the system will never be accomplished and finally both the sides will have to agree on common ToRs for setting up a judicial commission so all the allegations can be probed and institutions can be reformed to stop corruption and wrong doings.