Flagship Investment reference: IHC asks NAB to submit details within one week

ISLAMABAD: The Islamabad High Court (IHC) Tuesday directed the National Accountability Bureau (NAB) to submit details in a chart form about the Flagship Investment reference against former prime minister Muhammad Nawaz Sharif.

A division bench of the court, comprising Justice Aamer Farooq and Justice Mohsin Akhter Kayani, heard a NAB appeal challenging the trial court’s decision of acquitting Nawaz in the reference.

NAB Prosecutor Jahanzeb Bharwan read out the trial court verdict before the bench. He argued that Nawaz Sharif had been holding various public offices including the chief minister Punjab, finance minister and prime minister in the past.

“Nawaz was accused of concealing his assets,” he said. He further said the accused had provided funds for Flagship Investment, adding that there was no evidence that Hassan and Hussain Nawaz had been sending money to their father.

Justice Kayani remarked that there were 13 companies in the Flagship Investment and asked where was the name of Nawaz Sharif as shareholder. The prosecutor replied that the accused was the chairman board of members.

Justice Kayani remarked that the prosecution had to prove that the accused had been a beneficiary of this investment. NAB’s Deputy Prosecutor Sardar Muzaffar Abbasi pleaded that Nawaz Sharif had been receiving AED 10,000 from the Flagship Company.

The bench asked whether it was a crime to receive salary. The prosecutor argued that all points had been discussed before the trial court. The prosecution’s actual case was that the accused assets didn’t match with their sources of income, he further said.

The court, however, asked the NAB officials to submit income tax and wealth tax details of former prime minister in a chart form within one week and adjourned the hearing.