I’ve no shares in Ramzan Sugar Mills: Shahbaz

ISLAMABAD: The Pakistan Muslim League-Nawaz (PML-N) President Shahbaz Sharif says he has had no share in Ramzan Sugar Mills Ltd.

Every MNA/MPA is required by law to submit a statement of assets and liabilities of their respective spouses along with their nomination papers/tax returns, Shahbaz Sharif said in a statement in response to a story published in this newspaper on December 21, 2020.

"It is very unfortunate that shares of Mrs Nusrat Shahbaz in Ramzan Sugar Mills Ltd have been attributed to Mr Shahbaz Sharif. Mr Shahbaz Sharif has never held any shares in RSM and hence the news item is totally false.

There is no contradiction in his statement verbally given to FIA which the FIA has produced in writing on its own. We stand by our claim that there is not a single penny's corruption alleged against Mr Shahbaz Sharif neither is there any telegraphic transfer in his account. He has never been a director or shareholder in any business concern since after 1997. There is no allegation of embezzlement of public money. Since there is no telegraphic transfer, he stands absolved of charges of money laundering. Even if there had been any telegraphic transfer, it has to be a predicate offence involving narcotics, terror financing or corruption involving public money," read Shahbaz Sharif's statement.

Zahid Gishkori adds: The story is based on FIA's findings and Shahbaz Sharif himself attributed the under-questioned shares of RSM with his family members, wife in particular, who was treated as his dependant.

The reporter got the material from FIA's findings/questions which stated, “Have you (Shahbaz Sharif) in any way been privy to any of the transactions deposited into/received from these accounts by or on your behalf? If no, then how, for example, the cheques (worth Rs5m) received by you from Aurangzeb Butt, ended up being deposited in the account of Guizar A Khan (deceased), a peon of the RSML?" So the claim made here that it is a "false story" carried little weight.

The FIA's findings were taken from the NAB's investigations which claimed that Shahbaz Sharif remained beneficiary of investments made in RMS.