Sharifs own money enabled them to live in London flats

ISLAMABAD: It was Sharifs’ own money which enabled them to live in Avenfield House flats right from early 1990s and finally transferring these flats in their name in 2006, a careful reading of response submitted in the Supreme Court on Tuesday shows.

In their reply before the Supreme Court of Pakistan the Sharifs have disclosed that their investment with Al-Thani Family of Qatar was a major factor in the purchase of London flats and linked offshore companies by the Qatri Jasim and Sharifs were allowed to stay in those flats since early 1990s because of their investment in the Qatar’s royal family’s real estate business.

The three scions of the Prime Minister of Pakistan, Hussain Nawaz, Hassan Nawaz and Maryam Nawaz, have told the apex court, which is hearing petition against them in Panama Papers case, that Al-Thani family purchased the London flats after the Sharifs had invested 12 million AED in the real estate business of Al-Thani family in 1980. Soon as the flats were purchased, the Sharifs were allowed to live in the London flats by the Al-Thani family because of the Sharifs investment in real estate business.

The SC has been told by the Sharif family that the main reason that they were allowed by the Al-Thani family to live in the London flats was their investment with the royal family. And that the ownership of these London flats was transferred in the name of Hussian Nawaz in 2006 because Al-Thani family owed Sharifs the AED 12 million and the returns on it since 1980.

Replies submitted on Tuesday show Sharifs’ investment was translated in the shape of London flats and returned to the Sharifs by the Al-Thani family. In their concise statement in the Supreme Court the children of PM have said that “in 1980, the consideration of AED 12 million from sale of 25 percent shares in the Gulf Steel Mills was entrusted to the Al-Thani family of Doha, Qatar to invest in the real estate business of the Al-Thani family.

That Flats No 16, 16a, 17 and 17a, Avenfield House, Park Lane, London were purchased by the Al-Thani family and their ownership was secured through two companies, namely, Nielsen Enterprises Limited and Nescoll Limited, the bearer share certificates of which were kept by the Al-Thani family in Qatar.”

The Panama Papers reveal that the British Virgin Islands-based firms Nielsen Enterprises Limited and Nescoll Limited were incorporated in 1994 and 1993 respectively.

Regarding Sharifs’ stay in the London flats since early 1990s, the PM’s children have told the apex court that it was their investment with the Qatar’s royal family that they were allowed by the Qataris to use London flats. The statements say, “On account of the longstanding business and personal relations of the Al-Thani family with Late Mian Muhammad Sharif, Al-Thani family allowed Late Mian Muhammad Sharif and his family to use the properties whilst bearing all expenses relating to the properties including the ground rent and service charges.”

Regarding the 2006 purchase of London flats by Hussain Nawaz along with two offshore companies, the Sharifs have told the court that it was their very own investment that the Qataris later translated into London flats and returned them back. The exact statement says, “After his exile from Pakistan on 10th December 2000, Late Mian Muhammad Sharif advised Al-Thani family that the said investment, together with its cumulative return, would be for the benefit of his eldest grandson, i.e. Hussain Nawaz. That ultimately in the year 2006, the account between Al-Thani family and Hussain Nawaz was settled through which the properties were transferred by delivery of the bearer shares of the entities (offshore companies) to nominee of Hussain Nawaz.”