Pakistan releases UK judgements in Broadsheet case [Read Full Verdict]

07:59 PM | 18 Jan, 2021
Pakistan releases UK judgements in Broadsheet case [Read Full Verdict]

ISLAMABAD – Adviser to the Prime Minister on Interior and Accountability Mirza Shahzad Akbar on Monday released judgements against Pakistan in the Broadsheet case.

Addressing a press conference, Akbar said that the step has been taken in the light of Prime Minister Imran Khan’s belief that transparency is must in the accountability process.

He added that the documents are being public after getting written consent from the lawyers of the Broadsheet.

The special aide said two judgements are related to the liability award in 2016 and the quantum award in 2018, adding that the first confirmed Pakistan was liable to pay the UK-based firm and the second determined the amount to be paid by the Pakistani government.

  2018 12 17 CIArb Broadsheet Quantum Award by mahmood9917 on Scribd

He said that $20.5 million out of $21.5 million paid to Broadsheet was given because of Sharif family, adding that the this is the cost of the NROs given to politicians in the past.

  Part Final Award_Liability Issues_010816 (3) by mahmood9917 on Scribd

Pakistan, during the tenure of Pervez Musharraf, roped in Broadsheet in 2000 to track down the foreign assets of purchased by the Pakistani politicians through looted money.

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However, NAB ended the asset recovery agreement with the firm in 2003, pushing Broadsheet and another company involved as third party to move the London High Court for damages.

The UK-based companies claimed that Pakistan owned them money according to the terms agreed upon since the government was taking action to seize assets identified by the firm including the Avenfiled apartments of the Sharif family.

Later, an arbitration was held by Sir Anthony, who found the claims of the companies valid. Later, the London High Court endorsed the findings, ordering Pakistan to pay $28 million to Broadsheet.

  Broadsheet - UK High Court Decision by mahmood9917 on Scribd

The Pakistani government has already paid nearly Rs5 billion to the company.