Nawaz Sharif cannot lead his party PML(N), rules Pak Supreme Court

Pakistan's Supreme Court on Wednesday ruled that a person disqualified under Article 62 and 63 of the Constitution cannot serve as the head of a political party, in a blow to Nawaz Sharif who will no longer remain the chief of the ruling PML-N.

Sharif, 68, was disqualified by the apex court in the Panama Papers case last year under Article 62 of the Constitution for failing to declare a receivable salary as an asset.

A three-judge Supreme Court bench headed by Chief Justice Saqib Nisar today said that it is mandatory for a party head to fulfil the requirements of Articles 62 and 63 as a party head is powerful and political parties control the government, Dawn reported.

Ousted Pak PM Nawaz Sharif appears before anti-graft court to face trial

Pakistan's ousted Prime Minister Nawaz Sharif on Wednesday appeared before an anti-graft court to face trial in corruption cases against him in the Panama Papers scandal that forced him to resign.

Sharif, 67, reached the court along with his daughter Maryam.

The former premier, who had left for Saudi Arabia on December 30 amid reports of a "deal" between the embattled Sharif family, returned to the country yesterday.

Three corruption cases were registered against him on September 8 following the Supreme Court verdict of July 28 that also disqualified Sharif as the prime minister and ordered National Accountability Bureau (NAB) for institution of cases.

The NAB produced two witnesses on the court today who recorded their statements and defence layer also cross-examined them.

The three cases pertain to the Al-Azizia Steel Mills, several companies including Flagship Investment Ltd, and London's Avenfield properties.

Sharif and some of his family members are facing charges relating to their overseas properties.

Last hearing of the case was held on December 19.

So far 10 witnesses have recorded their statement on behalf of the prosecution. This was the 11th time that Sharif has attended the hearing.

The political future of Sharif, who leads the country's most powerful political family and the ruling PML-N party, has been hanging in balance since then. If convicted, Sharif can be jailed.

Sharifs family alleges that the cases are politically motivated.
READ MORE

Paradise leaks: Nothing wrong in Russia-tied investments, says Wilbur Ross

US Commerce Secretary Wilbur Ross said on Monday he had done nothing wrong and did properly disclose his investments in a shipping firm that has significant business ties to Russian President Vladimir Putin's inner circle.

Ross was responding in media interviews to reports on Sunday about his investments stemming from the so-called Paradise Papers, a trove of leaked documents about an offshore investment that relate to the affairs of wealthy individuals and institutions ranging from Ross to Britain's Queen Elizabeth and trading firm Glencore.

The documents were obtained by Germany's Sueddeutsche Zeitung newspaper and shared with the International Consortium of Investigative Journalists (ICIJ) and some media outlets. Reuters has not independently verified the documents.

"There is nothing wrong with anything that was done," Ross told CNBC, adding that he had not considered resigning following Sunday's report. Ross is a billionaire investor who is helping to shape Republican President Donald Trump's trade policy.

"There was disclosure, there is no impropriety and if people draw a contrary conclusion that's because the papers have twisted the story and made it into something that it's not there," Ross told the BBC.

U.S. media said partnerships used by Ross have a 31 percent stake in Navigator Holdings, which the New York Times said earns millions of dollars a year transporting gas for Russian petrochemical firm Sibur.
READ MORE

Nawaz Sharif 'smartly deprived' Shehbaz chance to become PM: PML-N leaders

Prime Minister Nawaz Sharif "smartly deprived" his younger brother Shehbaz an opportunity to become prime minister because of "family politics" despite nominating the Punjab chief minister as his eventual successor, according to some Pakistan Muslim League (Nawaz) (PML-N) leaders.

After his disqualification by the Supreme Court in the Panama Papers case on July 28, Nawaz had announced that Shehbaz would be prime minister for remaining 10-month tenure of the party after interim arrangements of 45-day for which Shahid Khaqan Abbasi was elected premier.

In the background interviews, some PML-N leaders said they are of the view that Shehbaz is made to miss a "golden opportunity" to succeed his elder brother as there has been no guarantee that he will get the same chance in 2018 in case PML-N wins the election as more players from the elder Sharif family will be there in the race for the top slot.

Sharif's wife Kalsoom will be a strong candidate for the prime minister's slot in case PML-N wins 2018 general election if his daughter - Maryam - is not cleared in corruption cases she is facing in the accountability courts by then," a top PML-N leader said.

READ MORE

PM revealed his Dubai job in 2013 election papers: Nawaz Sharif's lawyer

Denying that his client had concealed his employment in Dubai based company, Prime Minister Nawaz Sharif's lawyer, Khawaja Harris has submitted a written reply in the Supreme Court on Saturday, stating that Prime Minister mentioned his Dubai job and Iqama in nomination papers of 2013.

The written reply has details of employment of Prime Minister Sharif at Capital FZE, Dubai-based company and had received an iqama (work permit) from the Gulf. The Joint Investigation Team (JIT) had raised the question after unearthing an offshore company related to the Prime Minister during investigations into the money laundering allegations against the Sharif family during the Panamagate hearings, the Dawn reported.

A three-member bench of the Pakistan's Supreme Court on Friday concluded the entire hearings and reserved the judgment in the Panamagate case in which Prime Minister Nawaz Sharif and his family are accused of amassing offshore assets. The date of the judgment is yet to be announced and if convicted, Prime Minister Sharif can face disqualification from politics.

"The allegation that the employment with Capital FZE was concealed by the prime minister is totally false," reads the reply.

A copy of the premier's passport bearing the work permit was annexed to the 2013 nomination papers, along with a document of his employment at the company, according to the reply.
READ MORE

Nawaz Sharif's elder son appears before Panama probe panel for sixth time

Pakistan Prime Minister Nawaz Sharif elder son Hussain Nawaz on Tuesday appeared before a Joint Investigation Team (JIT) for the sixth time, probing the high- profile Panamagate graft case against his family.

Hussain Nawaz arrived at the Federal Judicial Academy (FJA) and was questioned by the six-member JIT set up by the Supreme Court.

In its judgement of April 20 in the Panama Papers case, the Supreme Court had constituted a JIT and empowered it to summon the prime minister, his sons and any other person necessary, to investigate allegations of money laundering, through which the four apartments in London's posh Park Lane area were purchased.

On May 5, the Supreme Court set up a high-level six-member JIT to probe Sharif and his sons' alleged corruption in the Panama Papers case.

It has already questioned Sharif and several others of his family, including his sons - Hussain and Hasan over the family's alleged improper business dealings.

Sharif's daughter Maryam Nawaz will appear tomorrow before the JIT for the first time.

Sharif has denied any wrongdoing and said the property was purchased through the money his later father had invested in the Gulf states.

The JIT is expected to complete its probe by July 10 and submit a report to the apex Court, which will decide fate of Sharif. The JIT comprises anti-corruption officials, along with members of the powerful spy agency ISI and the Military Intelligence.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
READ MORE