References against Shahbaz, his sons, Abbasi approved

ISLAMABAD: Chairman National Accountability Bureau (NAB) Justice (R) Javed Iqbal Tuesday approved fresh references against the PML-N President and Opposition Leader in the National Assembly Shahbaz Sharif and his sons in an assets’ beyond known source of income case disproportionate to their known sources of income to the tune of Rs7.328 billion.

He also approved the filing of a supplementary reference against former prime minister Shahid Khaqan Abbasi and former finance minister Miftah Ismail in awarding the contract of LNG Terminal.

The first reference has been approved against Muhammad Shahbaz Sharif, Muhammad Hamza Shahbaz Sharif, Salman Shahbaz Sharif and others for accumulating assets disproportionate to their known sources of income to the tune of Rs7.328 billion.

The proceedings of investigation have revealed that accused Mian Muhammad Shahbaz Sharif and his co-accused family members, benamidars, and front men accumulated assets disproportionate to their known sources of income to the tune of Rs7.328 billion.

For the said assets, the accused 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.

Second, a supplementary reference has been approved against Shahid Khaqan Abbasi, his son Abdullah Khaqan Abbasi, Miftah 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 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 a non-transparent process awarded the LNG Terminal-1 contract.

The accused public office-holders misused their authority in active connivance with each other to give wrongful gains of Rs14.146 billion to EETL/ETPL/ECL in connection with LNG Terminal-1 and also caused a wrongful loss of Rs7.438 billion (approx) for non-utilization of unused capacity of 2nd LNG Terminal of PGPL from March, 2015 till September2019. Hence, the total liability becomes Rs21.584 billion (approx) till September 2019.

In this respect, it is pertinent to mention that further loss to be incurred for next 10 years will amount to Rs47 billion (approx), as the said contract will expire on March, 2029.

During the period, unexplained deposits of Rs1.426 billion were received in the accounts of Abdullah Khaqan Abbasi and Rs1.294 billion 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 deposits and layering, the accused also committed offence of money laundering.

Third, a reference has been approved against officers/officials of M/O Foreign Affairs and others regarding corruption and corrupt practices in the sale of Embassy of Pakistan at Jakarta, Indonesia.

During the period from 2001-2002, Major General (R) Syed Mustafa Anwar Hussain while posted as ambassador of Pakistan at Jakarta, Indonesia sold out the building of Pakistan Embassy at a throwaway price through a non-transparent procedure and without lawful authority. The accused thereby caused a loss of $1.32 million.