Nawaz acquitted in Flagship reference for lack of evidence

ISLAMABAD: An Accountability Court (AC) of Islamabad Monday issued detailed judgment of sixty-nine pages in Flagship Investment Reference against former Prime Minister Muhammad Nawaz Sharif. The judge of accountability court, Arshad Malik, issued the detailed verdict declaring the NAB allegations against the former premier ambiguous lacking proofs. The court in its decision declared that no one can be punished or fined until the allegations proved as well as NAB was unable to prove the allegations due to which the accused was released by giving the benefit of doubt. The court declared that it cannot be denied that such assets do not belong to Nawaz Sharif as well as details of Nawaz’ address with nation were unacceptable and cannot be used as documentary evidence. The NAB claims of establishing companies by Nawaz Sharif after selling Gulf Steel Mills were also proved bogus.

The order said that perpetual non-bailable arrest warrants for Hassan and Hussain Nawaz, the co-accused in the cases would be issued, and wrote in the decision that trial of such accused would be conducted after their return to the country.

The court stated that possibility of Nawaz having supplied Hassan with funds worth 705,071 Pounds from his undeclared wealth and assets held outside Pakistan cannot be ruled out completely, but noted that there are insufficient evidences to safely reach the conclusion.

The court declared that NAB was unable to produce evidences against the allegations of thirteen companies in which Nawaz was indicted and it only produced record of ten companies. The court declared that capital FZE was an admitted fact which cannot be denied.

The accountability court in its short order on December 24 had acquitted the former premier in the Flagship reference filed by the NAB.