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Flagship reference: NAB witness admits sons were not dependent upon Nawaz Sharif

11:05 AM | 26 Nov, 2018
Flagship reference: NAB witness admits sons were not dependent upon Nawaz Sharif
ISLAMABAD -  An investigation officer of the National Accountability Bureau (NAB) during cross-examination in the Flagship reference revealed that there is no proof that both sons of former prime minister Nawaz Sharif were dependent upon him for establishing the business.

Mohammad Kamran, the last prosecution witness of the anti-graft buster, informed the accountability court that he did not find any evidence that proved Sharif's link with the Flagship Investment and other 16 companies owned by his sons - Hassan and Hussain Nawaz.

However, the Panamagate joint investigation team (JIT) in its report claimed that Hussain Nawaz established Al-Azizia and Hill Metal Steel Mills durng the exile of the former premier, adding that he started other business along with his brother in UK during 2001.

The last prosecution during the testimony said that there is no proof or witness that Sharif had provided money to his sons for establishing Flagship Investment and other companies in the UK.

He further added that both brothers were running their business in the UK in lawful manner as they were never grilled by any authority of the foreign country for any misdeed.

The former prime minister also appeared before ther accountability court to attend the hearing of Flagship corruption reference.

Al-Azizia Case

Earlier, Sharif completed his testimony in Al-Azizia corruption reference under the Criminal Procedure Code. He had termed the probe conducted by the Panamagate joint investigation team pertaining to a corruption reference biased and baseless.

"This case was formed against me on the basis of allegations levelled by my political opponents and a one-sided report of the joint investigation team (JIT)," he said.

The Cases

As many as three references have been filed against the former premier in line with the directives of the Supreme Court in the Panama Papers case verdict – a decision that ousted Nawaz Sharif from the PM House in July last year.

The accountability court judge Muhammad Bashir had sentenced elder Sharif to ten years in the Avenfield reference. However, the conviction was suspended by a two-member bench of the Islamabad High Court.

NAB has moved the Supreme Court against the decision of the Islamabad High Court which will hear the case on December 12.

Besides Sharif, Maryam Nawaz was sentenced to 7 years and Captain Safdar was sentenced to one year in prison in the Avenfield reference which pertains to the pricey flats of the former ruling family.



PKR rate against US Dollar, Euro, Pound, Riyal - Check 16 April forex rates

Pakistani currency gains momentum against all currencies on April 16, 2024 Tuesday. US dollar was being quoted at 277.9 for buying and 280.85 for selling.

Euro was quoted at 295 for buying and 298 for selling while British Pound stands at 345 for buying, and 349 for selling.

UAE Dirham AED was at 75.4 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 15 April 2024

Currency Symbol Buying Selling
US Dollar USD 277.9 280.85
Euro EUR 295 298
UK Pound Sterling GBP 345 349
U.A.E Dirham AED 75.45 76.2
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 182.7 184.5
Bahrain Dinar BHD 739.38 747.38
Canadian Dollar CAD 204 206.2
China Yuan CNY 38.45 38.85
Danish Krone DKK 40.45 40.85
Hong Kong Dollar HKD 35.57 35.92
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 903.91 912.91
Malaysian Ringgit MYR 58.92 59.52
New Zealand Dollar NZD 167.63 169.63
Norwegians Krone NOK 25.38 25.68
Omani Riyal OMR 722.1 730.1
Qatari Riyal QAR 76.35 77.05
Singapore Dollar SGD 206 208
Swedish Korona SEK 25.72 26.02
Swiss Franc CHF 307.11 309.61
Thai Bhat THB 7.61 7.76


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