NAB approved three references of Corruption

Islamabad, July 28, 2020 (PRESS RELEASE): Honourable Justice Mr. Javed Iqbal, Chairman NAB has approved filing of three corruption references in respected Accountability Courts as per law.

The detail is as under:

First reference has been approved against Mian Muhammad Shahbaz Sharif, Muhammad Hamza Shahbaz Sharif, Salman Shahbaz Sharif and others in accumulation of assets disproportionate to their known sources of income to the tune of Rs. 7,328 million. The proceedings of investigation have revealed that accused Mian Muhammad Shahbaz Sharif and his co-accused family members, benamidars, frontmen, accumulated assets disproportionate to their known sources of income to the tune of Rs. 7328 million. For the said assets, accused persons laundered their disproportionate funds under the garb of foreign remittances, loans, which have been proved to be fake/fictitious. The accused persons were also operating benami companies held in the name of their employees / associates to place the proceeds of crimes for their own benefits.

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Second, a reference has been approved against officers/officials of M/O Foreign Affairs and others regarding corruption and corrupt practices in sale of Embassy of Pakistan at Jakarta, Indonesia. During the period from 2001-2002, Major General (Retd) Syed Mustafa Anwar Hussain while posted as Ambassador of Pakistan at Jakarta, Indonesia sold out building of Pakistan Embassy at Jakarta at throw away price through non transparent procedure and without lawful authority. The accused thereby caused loss of US$ 1.32 million.

Third, a s supplementary reference has been approved against Shahid Khaqan Abbasi ex-Prime Minister, his son Abdullah Khaqan Abbasi, Muftah Ismail, ex Chairman SSGC Board, Sheikh Imran ul Haq, Ex-CEO of EETPL & MD PSO, Agha Jan Akhtar, Ex-Chairman PQA, Saeed Ahmed Khan, Ex-Chairman OGRA, Aamir Naseem, Ex-Member Oil OGRA, Uzma Adil Khan, Ex-Chairperson OGRA, Shahid M. Islam, Ex-MD PSO, Husain Dawood, Chairman, Engro Corporation Limited, Abdul Samad Dawood, Director Engro Corporation Limited and others. The allegation is that the accused through non transparent process awarded the LNG Terminal-1 contract.

The accused public office holder misused their authorities in active connivance with each other to give wrongful gains of Rs 14.146 Billion to EETL/ETPL/ECL in connection with LNG Terminal-1 of EETL and also caused a wrongful loss of Rs. 7.438 Billion (Approx) for non-utilization of unused capacity of 2nd LNG Terminal of PGPL from March, 2015 till September 2019. Hence, a total liability becomes Rs. 21.584 Billion (Approx) till September, 2019.

In this respect, it is pertinent to mention here that further loss to be incurred for next 10 years will amount to Rs. 47 Billion (Approx) as the said contract will expire on March, 2029. During the period unexplained deposits of Rs. 1.426 billion were received in the accounts of Abdullah Khaqan Abbasi and Rs. 1.294 Billion was received in the bank accounts of Shahid Khaqan Abbasi during the period from 2013 to 2017, during which the above said LNG Terminal deal was struck. By concealing the origin of above said deposits and layering, the accused also committed offence of money laundering.