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Panama, fake account JITs’ reports: It’s a case study in how states fail, says PM

In a jibe intended towards the PML-N and PPP supporters, Imran said that he was “puzzled and perplexed by those who, despite having read the two reports, were defending the plunderers.”

By Mumtaz Alvi & Saleh Zaafir
December 26, 2018

ISLAMABAD: Prime Minister Imran Khan has termed the joint investigation teams' reports in the Panama and fake accounts cases as “case studies in how states fail”.

Imran Khan said this in a Twitter message on Tuesday, a day after the accountability court convicted former prime minster Nawaz Sharif in the Al-Azizia reference while the Supreme Court relayed findings of the JIT in a money laundering case against former president Asif Zardari.

“The Panama JIT report & the fake accounts JIT reports are case studies in how states fail - getting impoverished and drowning in debt,” he said. “The scale & methods used for siphoning off public money are incredulous and mind-boggling,” he added.

In a jibe intended towards the PML-N and PPP supporters, Imran said that he was “puzzled and perplexed by those who, despite having read the two reports, were defending the plunderers.”

The top court on Monday banned the sale, purchase and transfer of properties owned by three business groups after a JIT submitted its report revealing that Rs42 billion was laundered through 29 fake bank accounts that had also been used to pay expenses of Asif Zardari’s home. The JIT report claimed misdeclaration of assets by Asif Zardari in his nomination papers submitted in the 2018 general elections.

Legal experts say that if the JIT’s findings are proven true, then Zardari may be disqualified for lifetime as a lawmaker by the Supreme Court under Article 62(1)(f) of the Constitution.

Separately, Nawaz Sharif was convicted by an accountability court in the Al-Azizia corruption reference filed by the National Accountability Bureau (NAB) in the light of the Supreme Court’s Panama verdict. The court awarded him seven years imprisonment and slapped a fine of Rs1.5 billion. The PML-N and PPP both haveresponded to the assertions of Imran Khan separately by outrightly rejecting the notion.

Meanwhile, Information Minister Fawad Chaudhry on Tuesday said their mandate was to conduct accountability and arrest the plunderers. The minister said this while addressing a news conference in Islamabad in reaction to an earlier presser by Pakistan Muslim League-Nawaz (PML-N) leaders. Minister for Revenue Hammad Azhar and Leader of the House in the Senate Syed Shibli Faraz also accompanied him.

Fawad said the "Thugs of Pakistan" had a flop show, alleging, "Nawaz Sharif and Asif Ali Zardari's business is only to make money and both have the same modus operandi." Fawad said the government would initiate proceedings for confiscation of Nawaz's property in Saudi Arabia from today (Wednesday).

He alleged that Nawaz and Zardari together ran the "largest money laundering factory" in the world and both had formed a system of corruption under an agreement. The minister went on to say that money laundering investigations against the Pakistan People’s Party (PPP) co-chairman were halted in 2015. He said the two figures had named looting of wealth as democracy.

The minister pointed out that before the era of General Ziaul Haq, Nawaz and Shahbaz Sharif could not even be elected as councilors. He alleged that Ahsan Iqbal’s engineering was also done from the quota of Zia. He added that Ahsan Iqbal forgot who had imposed Nawaz on Pakistan and then the people of Pakistan continued to pay the price for it.

The minister charged that Nawaz and Zardari had a similar modus operandi of corruption and then shifting the looted money of the people abroad and establishing companies on paper to cover up their ill-gotten wealth.

He alleged that the Charter of Democracy was in fact the charter of corruption and both the PML-N and PPP cooperated with one another in looting the nation’s wealth. He asserted the PTI was given the mandate to carry out accountability and apprehend the corrupt elements. About the PML-N’s statements that why Aleema Khan, Abdul Aleem Khan and others were not arrested, he explained that the PML–N people were taken into custody for non-cooperation with the NAB.

Fawad regretted that both Shahbaz and Saad Rafique, instead of cooperating with NAB, were resorting to mud-slinging from the floor of the National Assembly. He alleged that they tempered with evidence or it was torched and even they threatened those, who were summoned by the NAB for probe in relation to their corruption.

He made it clear that Prime Minister Imran Khan had himself declared, having nothing to do with the process of accountability and that he would not ask for discriminatory treatment. He explained the probe against Zardari with regard to money laundering began in 2015 and then it was slowed down.

Referring to the JIT report on Zardari and others, Fawad said that nerve-wracking revelations had been made in the report. He alleged a company was taken away from Hashwani and Bilawal made its partner (shareholder). He said the extent of loot and plunder by Nawaz and Zardari was gauged from the fact that loans were increased during their 10 years of rule from Rs6 trillion to Rs30 trillion, showing an increase of Rs24 trillion. “Both named their loot and plunder democracy and that it flourishes, only if they are in power and if someone is caught, then they say democracy is in danger,” he said.

The minister again alleged that from 33 to 35 percent of development funds of Sindh went to the Zardari’s group of companies, whereas Hasan and Hussain and Shahbaz made money from Punjab under big projects.

Fawad noted that Nawaz had declared Rs1.5 million worth of assets while he established one after the other steel mills and showed them running in losses while pocketing 88 per cent of profit from those and 10 percent was sent to their servants.

Hammad Azhar charged that the PML-N leaders were trying to mislead the masses, as the documents shared the true story. He added that Nawaz failed to prove from where he had amassed wealth despite having been given numerous opportunities to do so.

The minister claimed the vehicle of money laundering was used to take away their wealth abroad and their income and lifestyle and assets did not match and they could not justify that. “This loot and plunder and money laundering put pressure on rupee while assets were bought in London and New York. They failed to justify before the Supreme Court, and other forums and their only answer has been democracy is under threat,” he noted.

Hammad charged that Zardari and Sharif family had a sort of joint business venture; they would fool people, keep their children and businesses abroad and take votes to further fool people in the name of democracy.

“Their joint venture stands exposed and their cases will be taken to logical conclusion,” he declared and heaped praise on the FIA and JIT for untangling their organised crime.

He said Al-Azizia, Hill Metal and Omni Group were created on papers to whiten the black money. “It is time, their party people should ask them why they have plunged the country in loans and snatched their rights,” he said. About Aleema Khan, he explained that she had never been a public office-holder, yet she submitted details of her assets in the Supreme Court and would be paying penalties and fine, adding that had she not been able to provide money trail, she would have faced similar fate.

Shibli Faraz put aside the opposition’s perception that democracy was under threat due to the ongoing accountability and said that democracy would be strengthened with accountability and combating corruption. He said the PPP and PML-N leaders would appoint people of their choice to safeguard and serve their vested interests in disregard to merit and capability.

“They appointed people as head of the state entities on the basis of loyalty to them and not having fulfilled merit. Those appointed will also then mint money,” he said.