LHC grants bail to Khawaja Asif in assets case

LAHORE: The Lahore High Court (LHC) on Wednesday granted bail to Pakistan Muslim League-Nawaz (PML-N) leader Khawaja Asif in a money laundering and assets beyond means case.

The division bench, comprising Justice Aalia Neelum and Justice Syed Shahbaz Ali Rizvi, announced the short order while allowing the post-arrest petition filed by Asif on the conclusion of arguments of the parties.

Asif was arrested in December last year and he filed his petition on March 27 after he was sent to jail on judicial remand in the case. The National Accountability Bureau (NAB) had been investigating the PML-N leader under Clause 4 of NAB Ordinance 1999 and section 3 of Anti-money Laundering act.

It alleged that Asif’s assets increased substantially which did not correspond to his income. The bureau also stated that Khawaja Asif claimed to receive Rs 130 million from a UAE firm but he failed to present solid evidence during the investigations. The bureau also alleged that Khawaja Asif was running a benami company.

At the outset of the proceedings on Wednesday, a prosecutor on behalf of the NAB apprised the court of Khawaja Asif’s assets and business investments. He said Asif received amounts from Dubai but failed to give a money trail.

He said the former foreign minister did not inform the bureau whether the amount was received as salary or profit on some investment. At this, Justice Aalia Neelum asked whether Asif received the amount in US dollars or Pakistani rupees.

To this the prosecutor replied that Asif received the amount in US dollars but got it exchanged to Pakistani rupees. He further said the Federal Investigation Agency (FIA) probe was limited to the extent of Khawaja Asif’s Iqama (Gulf work permit).

The court observed that the FIA also investigated the salary issue, and asked whether the bureau was also looking into the matter. To this, the prosecutor replied that the FIA only probed the salary but NAB investigated assets beyond the means of Khawaja Asif.

The court questioned whether Khawaja Asif misused his powers and if the bureau had any evidence in this regard. The prosecutor said NAB’s case was not of kickbacks or corruption but it was a case of assets beyond means.

He said Khawaja Asif had a negative balance of Rs230 million which further reduced to Rs150 million. He also said the bureau did not mention the fact in its report, but had all the evidence for the purpose.

Justice Neelum observed that different stances of NAB emerged in its two replies. She observed that NAB filed two replies in the matter, which contradict each other. The prosecutor stated that was not the case, adding that Rs230 million were shown as a negative balance in the first report, whereas, Rs150 million were negative balance in second report. At this, the bench questioned why the NAB changed the time and period in its different reports.

To this, the prosecutor replied that it was “bona fide of the bureau that it reduced the controversial amount”. The court further questioned that it was stated in the NAB report that investigations were in progress, whereas the investigation officer had stated that the reference had been sent to the NAB chairman for approval. At this stage, the petitioner’s counsel also produced Khawaja Asif’s Iqama before the court.

The prosecutor submitted that Asif received Rs9,000 dirhams as salary and the company did not join the investigations and said it would reply before a judicial forum when the bureau contacted it.

The petitioner’s counsel argued that Asif received Rs87 million as salary from a Dubai-based company. However, the prosecutor stated that the bureau sought all this information from Asif but he did not provide the same.

Justice Neelum observed that all the details were given in the Iqama and details of the salary had also been given in documents. The prosecutor submitted that Asif did not declare his income from 2004 to 2011.

At this, Justice Neelum said the bureau acknowledged the Iqama but did not acknowledge its terms.

The prosecutor replied that the bureau also did not acknowledge Iqama as it was not verified from any place.

He further stated that 161 statements were on record against Khawaja Asif. However, the bench remarked that it had got the Iqama verified. Subsequently, the bench granted bail to Asif and directed him to submit surety bonds for the purpose.