ISLAMABAD – The governor of State Bank of Pakistan and chairman Securities and Exchange Commission of Pakistan will appear before the Supreme Court today (Friday) to submit nominees for Joint Investigation Team in the purview of Panama verdict.

Although multiple departments including SECP, NAB, FIA, SECP, SBP had submitted names of the representatives to be included in the JTI on Wednesday but the apex court rejected the nominations by State Bank of Pakistan and Securities and Exchange Commission of Pakistan and summoned both the chiefs along with a list of officials of grade 18 and above.

The apex court remarked that the three-member bench would decide the final representatives to be included in six-member JIT tasked to probe money trail of Sharif family.

During the last hearing, Justice Aijaz Afzal remarked that the bench desired to include honest and competent officials in the JIT for transparent and unbiased investigations.

On the other hand, Justice Azmat Saeed observed that no one should play games with the bench adding that the verdict passed by the apex court should be implemented fully.

It bears mentioning that the Supreme Court in its judgement on April 20 had ordered formation of a Joint Investigation Team to investigate the money trail of ruling Sharif family.

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.

The JIT will present its report to the Supreme Court fortnightly and would be completing the proceedings in sixty days after which a final decision would be made by the apex court whether to disqualify the premier or not.