ISLAMABAD. The Accountability Court, Islamabad, has issued notices to Pakistan Peoples Party (PPP) Co-chairman Asif Ali Zardari and 19 others to appear in the Park Lane reference case. The court directed them to appear on December 20.
According to the reference, Asif Ali Zardari and other accused acquired Rs1.5 billion loan in the name of Park Lane Estates company. The loan was obtained in 2009 and was to be repaid in 2011, but not a single penny was paid back.
In 2012, the amount was restructured and enhanced through Privately Placed Term Finance Certificates (PPTFC) to Rs2.8 billion (initial facility and its mark-up) plus Rs800 million enhancement. These collusive actions caused a loss of Rs3.777 billion.
Arshad Tabrez, a former high court judge, was the counsel of Zardari in the reference. He argued that Zardari resigned from the company before becoming the president and sold his shares, and he had nothing to do with the financial facility in this reference.
Accountability Court Judge Muhammad Bashir said: “We’re issuing notices to all accused for now and you can argue in the next hearing on December 20.”
The reference is on misuse of authority of Zardari as president of Pakistan and it was sent to the NAB from Supreme Court of Pakistan on 07-09-2019. The reference was authorised by the-then DG NAB on 22-02-2019.
Meanwhile, former prime minister Raja Pervaiz Ashraf, along with co-accused, has also been sent notices on rental power references by NAB.
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