Is there any clash in statements of PM, Safdar, Maryam, Hussain, Hassan?

Who says what

News Analysis

 

ISLAMABAD: There are a large number of high points in the rejoinders filed by Prime Minister Nawaz Sharif’s three children, Maryam, Hussain and Hassan to the allegations leveled by Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan in his petition, being heard by the Supreme Court (SC).

A noteworthy feature is that there is no contradiction or inconsistency between their responses and the replies, already filed by the premier and his son-in-law Cap (R) Safdar in the top court in the same case.

The money trail that Nawaz Sharif had revealed in his speech to the National Assembly was reiterated by his children in their responses. A vital point was that no funds were sent from Pakistan to purchase the London flats, and the proceeds of sale of a steel business of the premier’s late father, Mian Muhammad Sharif, were used to purchase these apartments.

Two, Hussain and Hassan are non-residents, settled and conducting their lawful business outside Pakistan for 16 years and 22 years respectively. Three, Hussain bought London flats and offshore entities, Nescoll and Nielson, in January 2006. Before that, none of them or any member of his family owned them.

Four, Maryam is the trustee of the offshore companies being managed under a trust arrangement for Hussain’s sole benefit. Five, she is not and has never been the beneficial owner of any of the London flats and two offshore companies.

Six, she has never made any contribution/payments in relation to the consideration or expense pertaining to the properties or the offshore entities nor has derived any benefit from them.

Seven, other than the role of a trustee for and on behalf of Hussain, Maryam has no concern, relationship, ownership or control over these entities and or the properties.

Eight, the source of funds, resulting in vesting of beneficial ownership of the offshore shells and consequently the properties in Hussain’s name in January 2006, was the investment made by the premier’s father (late) Mian Muhammad Sharif in the year 1980 from the sale proceeds of his steel business in Dubai.

Nine, no part of the funds resulting in vesting of beneficial ownership of the offshore entities in Hussain’s favour were generated or transferred/transmitted from Pakistan.

Ten, Hussain, Maryam and Hassan are independent individuals.

Eleven, Maryam is a regular taxpayer, having National Tax No 1308504-2 and duly files her tax returns wherein all of her income, assets and liabilities have been duly disclosed.

Twelve, the prime minister has no concern with or role in the business and properties of his children.

Thirteen, flat numbers 16, 16A, 17 and 17A are owned by these two offshore companies. Flat number 16A doesn’t physically exist as it was merged in flat number 16.

Fourteen, the inference in reference to the wealth statement of the prime minister for the tax year 2011 that Maryam was declared as his independent is misconstrued both in facts and law.

Fifteen, certain immovable property standing/held by Nawaz Sharif in Maryam’s name in the tax year 2011 was duly included and disclosed by him in his wealth statement for the tax year 2011 at serial number 12 being the appropriate place for such disclosure.

Sixteen, the same was not included in Maryam’s wealth statement for the year 2011 by her. During the tax year 2012, the consideration of this immovable property was duly paid by her to her father through proper banking transaction.

Seventeen, this immovable property was fully included and declared by her in her wealth statement.

Hassan’s reply included several key points: he is not and has never been the owner of any of these properties or offshore entities; neither he nor Maryam or Hussain had purchased these properties between 1993 and 1996; none of them or any member of their family had anything to do with the incorporation of the offshore companies in the year 1992 and 1994 respectively; Maryam is not a beneficial owner of any of the offshore entities; no loan was obtained against these properties as collateral or no judgment was passed against Maryam, who is only a trustee for Hussain in relation to the offshore shells; she is not the co-owner of another British Virgin Island company, Coomber Group; Hussain has duly gifted $1,914,054 to Nawaz Sharif in tax year 2011 and his father duly gifted Rs31,700,000 and Rs19,459,440 to Maryam and Hussain respectively; Hussain is not a national tax number holder of Pakistan; it is false that the remittance equivalent to Rs200 million by Hussain did not qualify as gift or that it was to be treated as income in hands of Nawaz Sharif; and the gift of Rs31,700,000 to Maryam and Rs19,459,440 to Hassan are valid gift.