ISLAMABAD: The Joint Investigation Team probing allegations of financial impropriety against the Sharif family has obtained crucial evidence from different countries revealing the actual money trail of Sharif family’s assets, sources told ARY News on Saturday.
According to ARY News correspondent Sabir Shakir, the JIT has collected a lot of evidence from its visits to Dubai, London and Qatar which will clearly show from where the money flew into Sharif family’s accounts and was invested in properties rendering the Qatari Royal’s letters useless.
Sabir Shakir added that JIT is making the said evidence a part of its report which it will submit to the Supreme Court of Pakistan.
It is pertinent to mention here that last month, the special bench of the Supreme Court had directed the JIT to submit its final report on July 10. Earlier in the day, PML-N ministers criticised the JIT in an hours-long press conference.
The story of Qatari Royal’s letters
During the hearing of Panama Leaks case, Sharif family had submitted two letters from the Qatari Royal Hamad Bin Jasim Bin Jaber Al Thani in the Supreme Court to establish the money trail of London apartments.
In the first letter, the Qatari Royal stated that his father had longstanding business relations with PM Nawaz’s father which were coordinated through the prince’s eldest brother.
“As per my understanding at that time an aggregate sum of around 12 million dirhams was contributed by Mian Sharif, originating from the sale of the business in Dubai, UAE,” it said.
In a second letter to the apex court, Qatari Royal claimed that an investment of 12 million dirhams contributed by Mian Muhammad Sharif (father of PM Nawaz) was made “by way of provision of cash”.
A statement, submitted in the apex court by the premier’s counsel Salman Akram Raja, further stated that an amount of $8 million which was due to Mian Sharif in 2005, was settled “by the way of delivery of bearer shares of Nescol Ltd and Neilson Enterprises Ltd to a representative of PM Nawaz’s son Hussain Nawaz in 2006”.
Al-Thani, in his second letter to the Supreme Court also sought to answer the questions raised after the presentation of his first letter.
The letter said that PM Nawaz’s father, Mian Muhammad Sharif, made an investment of approximately 12 million dirhams in the Al-Thani family’s real estate business.
“The investment was made by way of provision of cash which was common practice in the Gulf region at the time of the investment. It was also, given the longstanding relationship between my father and Sharif, a customary way for them to do business between themselves,” it said.
“At the end of 2005, after receiving all accruals and other distributions made over the term of the investment, it was agreed that an amount of approx $8,000,000 was due to Sharif. The amount due to him was settled in 2006,” the letter explained, “by way of the delivery to Hussain Nawaz Sharif’s representative of bearer shares of Nescoll Ltd and Nielsen Enterprises Ltd, which had been kept during that time in Qatar.”