ISLAMABAD – The Joint Investigation Team (JIT) formed by the Supreme Court to probe money trail of the Sharif family under Panama case verdict, submitted its third and second-last fortnight inquiry report to the apex court on Thursday.
While hearing the case, a three-member bench headed by Justice Ejaz Afzal and comprising Justice Azmat Saeed and Justice Ijazul Ahsan directed the investigation team to file its final report by July 10 as the court did not want to give more time for investigation.
After reviewing the report, Justice Ahsan asked JIT head Wajid Zia whether government institutions were cooperating with the team or not.
To this, Zia said that Securities and Exchange Commission of Pakistan (SECP) had given the details and relevant record, adding that Federal Board of Revenue (FBR) was reluctant to do this.
Justice Azmat Saeed remarked that the court has directed the departments to cooperate with the Panama JIT.
Justice Ejaz Afzal asked the attorney general about the delay in providing data to the investigation team probing the Panama case.
Meanwhile, Justice Ahsan inquired the attorney general about time period for completion of investigation into record-tampering case. The AG replied that the probe will be completed in few days.
Earlier heading towards the court room, Zia responding to a question regarding working during Eid holidays said that the JIT will take the first Eid day off.
On May 22, the JIT presented its first inquiry report to the Panama verdict implementing bench of Supreme Court of Pakistan.
During the hearing, justice Ejaz Afzal instructed the six-member JIT to complete the proceedings when the allotted span of sixty days.
“We will not allow extra time for completion of proceedings,” remarked justice Ejaz Afzal.
Justice Azmat Saeed Sheikh expressed that the JIT should apprise the three-member bench if any state institution was creating hurdles for the team.
On June 7, JIT head, Wadjid Zia submitted its second report to the court and highlighted the problems faced by the JIT during the investigation.
The bench reiterated that no extension will be given in the case, and directed the JIT to file a separate application mentioning the problems being faced by the members during investigation.
The Supreme Court of Pakistan had announced the verdict of landmark Panama case on April 20, in which it ordered the formation of a Joint Investigation Team to probe the offshore assets of Sharif family.
Representatives from Intra Services Intelligence, Military Intelligence, State Bank of Pakistan, Securities and Exchange Commission of Pakistan and National Accountability Bureau are part of the team headed by Wajid Zia of Federal Investigation Agency.
In its judgement, the Supreme Court had also outlined the scope of the proposed JIT, which would probe how the Gulf Steel Mills in UAE came into being, what led to its sale, what happened to its liabilities, where did its sale proceeds end up, how did they reach Jeddah, Qatar and the UK, whether Hussain Nawaz and Hassan Nawaz in view of their ages at the time had the means to possess and purchase the flats, and whether the sudden appearance of the letters of Hamad Bin Jassim Bin Jaber Al-Thani of the Qatar was a myth or a reality.
The court also asked how bearer shares translated into the four upscale flats in London, who was the real and beneficial owner of Nielsen Enterprises Limited and Nescoll Limited, how did Hill Metal Establishment come into existence, where did the money for Flagship Investment Limited and other companies set up or taken over by Hassan Nawaz and where did the working capital for such companies come from and where do the huge sums running into millions gifted by Hussain Nawaz to the prime minister drop in from, Dawn News reported.
FIA Additional Director Wajid Zia is heading the investigation team comprising SBP officer Amer Aziz, SECP Executive Director Bilal Rasool, Balochistan NAB DG Irfan Naeem Mangi, intelligence officials retired Brig Nauman Saeed and Brig Kamran Khurshid.