JIT could **t mention single incident of public money misuse by Sharif family

[ahlam1399]

JIT could **t mention single incident of public money misuse by Sharif family

ISLAMABAD: Though the Joint Investigation Team has tried to indict each and every member of Mian Nawaz Sharif’s family in its report, including his political heir, Maryam Nawaz, his wife, two sons and a daughter who has so far remained unheard of in the media but in its 254-page report, the investigators have failed to bring a single evidence that the Sharifs established their businesses by looting the public funds.

The report has focused on many transactions, businesses, deals and asset statements which purely belong to the Sharif family but could **t even hint of any corruption in the public exchequer and held that it were the family businesses of the Sharifs.

All what the JIT has tried to establish is that there were irregularities and inconsistencies between the magnitude of the businesses and the financial health of the Sharif family but **t on one occasion it has referred to any commissions taken from any public projects, any bribe taken being members of the ruling family, award of contracts to favourites to extract public funds, or any other corrupt practices. In actual, the JIT has conducted scrutiny of private businesses of the Sharifs established between 1962 till date and documented irregularities, **n-following of proper documentation (a common practice in Pakistan even today) and being unable to provide proper money trails of their businesses.

Regarding the Gulf Steel Mills, which was established in 1974 and sold in 1980 when the Sharifs had **t come into power, therefore, ** question of public money involved in its establishment arises. Regarding its liabilities, the JIT has written three possibilities and all those are guesses and **t findings. Either the liabilities were cleared through share sale proceeds of Ahli Steel Mills in 80s or by portion of sale proceeds of 25% of Ahli Steel (erstwhile Gulf Steel Mills) or were settled by Mian Sharif through undeclared wealth, transferred illegally from Pakistan to Dubai during the 80s. The JIT concluded that the Gulf Steel Mills was the family business of the family with Mian Sharif as its head while it was in the name of two benamidar owners, Tariq Shafi and a foreigner, so that Mian Sharif could **t be tried under the Pakistani laws. Yet there is ** mention of corruption in public money to fill pockets.

Regarding the Avenfield Apartments, the JIT has concluded that Maryam Nawaz Sharif was the beneficial owner of off-shore companies Nielson and Nescoll, thus, owned Avenfield apartments. The JIT also concluded there wasn’t any Trust Deed associated with the off-shore companies. And that Maryam Nawaz never declared the London flats in her statement. The JIT concluded that Mian Nawaz Sharif was the “most likely” real owner of London Apartments in 1999 who employed his children and two BVI entities to conceal his true ultimate beneficial ownership in the apartments.

The JIT also did post-mortem of Qatari letters but could **t establish embezzlement in public funds. Regarding the Hill Metal Establishment, JIT has tried to establish a link of Mian Nawaz Sharif with the enterprise that the PM in 2010 transferred SR750,000 to the account of his son who then transferred the same amount to the accounts of HME and upon this the JIT has established that it was Nawaz Sharif who was the real owner while his son was employed as a conduit.

The JIT has stated that Mian Nawaz Sharif has received Rs1.166 billion rupees from his son and directly from the accounts of HME as remittances and gifts. The JIT did **t conclude conclusively regarding flagship investments saying that the record has **t been provided to it by the respondents, so it has been severely constrained to conclude.

The Hudaibia Papers Mills Limited case, which pertains to dubious movement of money from Pakistan to abroad to obtain loan to establish a paper mill in Pakistan, also does **t include public money but the alleged illegal movement of Sharifs’ own money abroad.

Regarding the business empire of the Sharif family, the JIT has mentioned that it must be “probed” how so many companies and big businesses were established while the late Mian Sharif, as per documented record, did **t have so much means. Though the JIT has been told by the members of the Sharif family that Mian Sharif did **t believe in documentation that is why he handed over a handsome amount to a Qatari prince in 1980s without any documentation.

The JIT, on one occasion, has only given a passing reference that most of the companies owned by the Sharif family were incorporated in 1980s and 1990s when Mian Nawaz Sharif was holding public ******, but there is **t the slightest hint of corrupt practices or money obtained through corruption to establish these businesses. The JIT has been digging out irregularities in the record of, which it termed, the family businesses of Shairfs but it has failed to bring a single document or article, which could establish that the Sharifs gathered this wealth by looting the public exchequer.



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