ISLAMABAD – The Election Commission of Pakistan (ECP) in its unanimous decision announced that Pakistan Tehreek-e-Insaf (PTI) received prohibited funds for its election campaigns.
A three-member bench, headed by Chief Election Commissioner Sikandar Sultan Raja, announced the verdict, which was reserved on June 21 after eight-year-long trial.
The top election body said that the Imran Khan-led party received foreign donations, adding that 13 benami accounts were also detected during the probe. It further said that the PTI concealed the details of funds that is violation of the Constitution of Pakistan.
PTI received funds from 34 individuals and 351 companies based in different countries, including US, and Australia.
Funds received by PTI from Foriegn nationals and companies. ECP will issue show cause notice to PTI for further action. pic.twitter.com/0bjSe2Tf1A— Hamid Mir حامد میر (@HamidMirPAK) August 2, 2022
Terming the affidavit submitted by PTI for its funding fake, ECP has issued a show cause notice to the political party.
The ECP had been probing the party's funding since 2014, when party founder Akbar S Babar alleged major irregularities in the party's finances, including in funding from outside Pakistan.
A heavy contingent of police was deployed around the top election body while all routes leading to ECP were temporarily closed.
The verdict comes as a credible British daily, Financnial Times (FT) revealed Pakistani tycoon Arif Naqvi's alleged involvement in the PTI's finances and how a significant portion of these finances in 2013 was of foreign origin.
The FT report says, "Naqvi transferred three instalments directly to the PTI in 2013 adding up to a total of $2.12m."
At the centre of the scandal is Wootton Cricket Ltd, a Cayman Islands-incorporated company owned by Naqvi, and the money from charity fundraisers, such as the “Wootton T20 Cup”, to bankroll PTI.
Naqvi is the founder of the Dubai-based Abraaj Group, which was one of the largest private equity firms operating in emerging markets at the time when the PTI was campaigning for the 2013 elections. He hosted the cricket tournament at his country estate in the Oxfordshire village of Wootton from 2010 to 2012, according to the FT report.
The guests were asked to pay between £2,000 and £2,500 each to attend, according to the UK daily. Quoting, Naqvi, the newspaper said the money went to “philanthropic causes”.
The FT report reads, "Funds poured into Wootton Cricket from companies and individuals, including at least £2m from a United Arab Emirates government minister who is also a member of the Abu Dhabi royal family."
Political parties in Pakistan are not permitted to receive funding from foreign nationals and companies, but Wootton Cricket account details and emails seen by FT for the period between February 28 and May 30, 2013, reveal that both companies and foreign nationals, as well as Pakistanis, sent millions of dollars to Wootton Cricket after which funds were transferred to the PTI in Pakistan.
Imran Khan visited Wootton Place in 2012. To questions by FT, the former cricketer wrote back saying he had gone to “a fundraising event which was attended by many PTI supporters”. He confirmed that businessman Tariq Shafi donated to the PTI, but said “it is for Tariq Shafi to answer as to from where he received this money”.
Khan said neither he nor his party was aware of Abraaj providing $1.3 million through Wootton Cricket. He also said he was “not aware” of the PTI receiving any funds that originated from UAE.
“Arif Naqvi has given a statement which was filed before the Election Commission also, not denied by anyone, that the money came from donations during a cricket match and the money as collected by him was sent through his company Wootton Cricket,” Khan wrote.
Khan said he was waiting for the ECP's verdict and that it will be inappropriate to "prejudge PTI”.
In its January report, the ECP said Wootton Cricket had transferred $2.12m to the PTI but at the time did not reveal the original source of the money.
Naqvi has acknowledged his ownership of Wootton Cricket and denied any wrongdoing. He told the ECP: “I have not collected any fund from any person of non-Pakistani origin, company [public or private] or any other prohibited source.”
Pakistani rupee witnessed marginal losses against US dollar, and other currencies in the open market.
On Wednesday, the dollar was being quoted at 285.6 for selling and 288.65 for buying purposes.
Euro price stands at 312 for buying and 315 for selling. British Pound rate stands at 360 for buying, and 363 for selling.
UAE Dirham AED stands at 78.25 whereas the Saudi Riyal also witnessed fall and new price stands at 76.25.
|UK Pound Sterling||GBP||360||363|
|Hong Kong Dollar||HKD||36.24||36.59|
|New Zealand Dollar||NZD||173.44||175.44|
KARACHI – The gold price moved up down in the local market in line with massive increase in international market.
On Wednesday, the single tola of 24 Karat gold was available at Rs218,000, and the price for 10-gram gold saw an increase of Rs943 to reach Rs186,900.
Meanwhile, the 22 Karat Gold price stands at Rs199,830, 21 karat rate for each tola is Rs190,750 and 18k gold rate hoveres around Rs163,500.00.
In international market, the price of precious metal went up by $29 to settle at $2,044 per ounce.
|Lahore||PKR 218,000||PKR 2,610|
|Karachi||PKR 218,000||PKR 2,610|
|Islamabad||PKR 218,000||PKR 2,610|
|Peshawar||PKR 218,000||PKR 2,610|
|Quetta||PKR 218,000||PKR 2,610|
|Sialkot||PKR 218,000||PKR 2,610|
|Attock||PKR 218,000||PKR 2,610|
|Gujranwala||PKR 218,000||PKR 2,610|
|Jehlum||PKR 218,000||PKR 2,610|
|Multan||PKR 218,000||PKR 2,610|
|Bahawalpur||PKR 218,000||PKR 2,610|
|Gujrat||PKR 218,000||PKR 2,610|
|Nawabshah||PKR 218,000||PKR 2,610|
|Chakwal||PKR 218,000||PKR 2,610|
|Hyderabad||PKR 218,000||PKR 2,610|
|Nowshehra||PKR 218,000||PKR 2,610|
|Sargodha||PKR 218,000||PKR 2,610|
|Faisalabad||PKR 218,000||PKR 2,610|
|Mirpur||PKR 218,000||PKR 2,610|