Nawaz Sharif escapes disqualification

• Split verdict, both sides celebrate

• Bench orders JIT to probe money trail and report findings in 60 days
• Justices Khosa, Gulzar wanted PM to be disqualified
• Imran welcomes verdict, asks PM to step down till JIT concludes work
• JIT to consist of FIA, NAB, MI, ISI, SBP and SECP representatives

Prime Minister Muhammad Nawaz Sharif narrowly escapes disqualification as majority judges of the five-member Supreme Court bench on Thursday ordered constitution of a joint investigation team (JIT) to further investigate allegations with regard to the Panama Papers case.

Justice Asif Saeed Khosa, who headed the five-judge bench, announced the much-awaited reserved order over a set of petitions moved by the Pakistan Tehreek-i-Insaf (PTI), Jammat-i-Islami and the Awami Muslim League (AML).

The three judges – Justice Ejaz Afzal Khan, Justice Azmat Saeed Sheikh and Justice Ijazul Ahsan – of the bench differed with the opinion of two other judges and directed for an appropriate investigation in the case.

According to the order, which is the operative part of the judgment, the Supreme Court issued direction to set up the joint investigation team within seven days (of the judgment) to investigate and submit its report within 60 days about the allegations, publicised in the Panama Papers.

“In normal circumstances, such exercise could be conducted by the National Accountability Bureau (NAB) but when its chairman appears to be indifferent and even unwilling to perform his part, we are constrained to look elsewhere and therefore, constitute a joint investigation team,” the judgment reads.

The joint team will comprise of senior officer from the Federal Investigation Agency (FIA), representative of the National Accountability Bureau, nominee of the Security and Exchange Commission of Pakistan (SECP), a nominee of the State Bank of Pakistan, and seasoned officers from the Military Intelligence (MI) and the Inter-Services Intelligence (ISI) to look into various business enterprises of the family of the prime minister.

The judgment further says that the JIT will investigate the case and collect evidence that shows that Nawaz Sharif or any of his dependents or benamidars (beneficial owner) owns, possesses or has acquired assets or any interest disproportionate to his known means of income and submit its final report within 60 days. It also directs Nawaz Sharif, Hassan Nawaz and Hussain Nawaz to appear and associate with the JIT as and when required.

The bench also requests Chief Justice of Pakistan Justice Saqib Nisar to constitute a special bench to ensure implementation of the judgment so that the investigation into the allegations may not be left in a blind alley. Furthermore, the joint team will submit its periodical reports every two weeks before the special bench.

The JIT will thoroughly investigate these matters, “How did Gulf Steel Mill come into being, how it was sold and what happened to its liabilities? Where did sale proceeds of the Gulf Steel Mill end up and how they reached Jeddah, Qatar and UK? Whether Hassan and Hussain had the means in their tender ages to possess and purchase the flats? Was sudden appearance of the letter of Hammad Bin Jassim Al-Thani a myth or a reality? How bearer shares crystallized into the flats? Who is the real owner of M/s Nielson Enterprises Limited and Nescoll Limited? How did Hill Metal Establishment come into existence? Where did money for the Flagship Investment Limited and other companies set up or taken over by Hassan Nawaz come from? Where do huge sums running into millions gifted by Hussain Nawaz to his father (Nawaz Sharif) drop in from?”