IHC seeks Flagship Investment details from NAB

ISLAMABAD: The Islamabad High Court (IHC) Tuesday directed National Accountability Bureau (NAB) to submit details in a chart form regarding Flagship Investment reference against former prime minister Muhammad Nawaz Sharif.

A division bench comprising Justice Aamer Farooq and Justice Mohsin Akhter Kiyani heard a NAB’s appeal challenging the decision of trial court acquitting former prime minister in Flagship Investment reference.

During hearing, NAB Prosecutor Jahanzeb Bharwan read out the trial court verdict before the bench. He argued that Nawaz Sharif had been holding various public offices including chief minister Punjab, finance minister and prime minister in the past. Nawaz was an accused of concealing his assets, he said.

He stated that the accused had provided funds for Flagship Investment, adding that there was no evidence that Hassan and Hussain Nawaz had been sending money to their father.

Justice Kiyani remarked that there were 13 companies in Flagship Investment. Where was the name of Nawaz Sharif as shareholder, he questioned.

NAB prosecutor answered that the accused was the chairman board of members.

Justice Kiyani remarked that the prosecution had to prove that the accused had been a beneficiary of this investment.

NAB’s Deputy Prosecutor Sardar Muzaffar Abbasi pleaded that Nawaz Sharif had been receiving AED 10,000 from Flagship Company.

The bench asked whether it was a crime to receive salary.

NAB prosecutor argued that all points were discussed before the trial court. The prosecution’s actual case was that ‘the accused persons’ assets didn’t match with their sources of income, he further said.

The court, however, asked the NAB officials to submit income tax and wealth tax details of former prime minister in a chart form within one week.