Friday, July 28, 2017 Last Updated 1 Min 35 Sec ago Malayalam Edition
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Thursday 20 Apr 2017 03.32 PM

Panama papers: Pakistan PM Nawaz Sharif narrowly escapes disqualification

panama Papers, Pakistan PM Nawaz Shariff

Pakistan Prime Minister Nawaz Sharif today narrowly survived being disqualified after a 3-2 split decision by a Supreme Court bench which ordered to set up a Joint Investigation Team (JIT) within a week to probe the allegations of money laundering against his family. The court also ordered Sharif and his two sons - Hasan and Hussain - to appear before the JIT, which would consist of officials from the Federal Investigation Agency, the National Accountability Bureau, the Security and Exchange Commission of Pakistan (SECP) and the Military Intelligence (MI). The JIT will present its report before the bench after every two weeks.

The five-judge bench comprising Justice Asif Saeed Khosa, Justice Gulzar Ahmed, Justice Ejaz Afzal Khan, Justice Azmat Saeed and Justice Ijazul Ahsan issued the landmark judgement 57 days after concluding the hearing. The case was launched on November 3 and the court held 35 hearings before concluding the proceedings on February 23. The case is about alleged money laundering by Sharif in 1990s when he twice served as Prime Minister to purchase assets in London.

The assets surfaced when Panama papers last year showed that they were managed through offshore companies owned by Sharif's children. The case in the Supreme Court was based on several identical petitions by Pakistan Tehreek-i-Insaf (PTI) chief Imran Khan and others about alleged illegal assets of the Prime Minister Sharif's family in London. According to the judgement, Sharif, 67, survived as majority three judges supported the setting up of JIT to further probe the allegations while two other judges wanted to disqualify the Prime Minister. PTI

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