NAB doubles down on $4.9 billion money laundering probe

–The Bureau says it is following law, doesn’t intend to victimise anyone

–Prime Minister Abbasi calls for parliamentary inquiry into allegations of money laundering against Sharif, says it amounts to ‘pre-poll rigging’

–Tells lawmakers they still have time to amend NAB laws, says prerequisites of justice should be met in all matters

–PPP and PTI lawmakers oppose summoning of NAB chairman in parliament, say it would be tantamount to interfering in NAB’s affairs

ISLAMABAD: Doubling down on the money laundering probe against Nawaz Sharif and his aides, National Accountability Bureau (NAB) on Wednesday issued a clarification over its stance citing a news article published in Roznama Ausaf, adding that the said matter does fall under its jurisdiction.

The NAB in a press release clarified that it is within its rights to verify complaint regarding the alleged money laundering of $4.9 from Pakistan to India by former premier Nawaz Sharif.

According to the bureau’s clarification, the chairman took notice of a newspaper article published in Roznama Ausaf, dated February 1, 2018, under the title “Money laundering ki raqam kab wapis layi jaegi? (When will the laundered money be brought back?)”, and written by Muhammad Tauseeful Haq Siddiqui. According to the article, the World Bank’s Remittances and Migration Report of 2016 clearly says said that Pakistan sent remittances worth USD4.9 billion to India, with the help of Nawaz Sharif, ex-finance minister Ishaq Dar, ex-governor of State Bank of Pakistan (SBP) Ashraf Mehmood and former deputy governor of SBP Saeed Ahmed — through money laundering. This resulted in a drop of the same amount in Pakistan’s foreign exchange reserves while simultaneously increasing that of India.

NAB further discussed the crux of the article in which it is alleged that Saeed Ahmed was the key man in the episode who first laundered the money to Dubai and then to India. “The money laundering was uncovered by World Bank’s Country Manager for Pakistan and its auditors when they went through State Bank of Pakistan’s detailed audit report on foreign currency reserve accounts. Afterwards, the World Bank included the same in its Remittances and Migration Report of 2016 which is available online,” NAB quoted the news piece.

The statement further said the bureau was investigating the claims made in the news article in question. It stressed that any investigation pertaining to the allegations of money laundering falls under NAB’s jurisdiction.

The bureau said, “NAB rejects the impression that its objective was victimisation or hurting someone,” clarifying that the institution does not believe in victimisation of any individual.

“NAB is determined to eradicate corruption without discrimination, and according to the law,” the release concluded.

GOVT GETS A REASON TO CRY FOUL:

The ruling Pakistan Muslim League-Nawaz (PML-N) government, led by Prime Minister Shahid Khaqan Abbasi, on Wednesday lashed out at NAB during National Assembly session for launching a ‘wrongful probe’ against deposed prime minister and party’s supreme leader Nawaz Sharif on allegations of money laundering.

Addressing the National Assembly, Prime Minister Abbasi asked the House to constitute a committee which would summon the NAB chairman and investigate the allegations. The premier in his tirade also claimed that the institution had overstepped its domain.

“The country will not function if institutions will work in this way,” he added, pointing out that the NA still has time to amend the NAB laws. He asked the House to “summon the NAB chairman” to clear his position as “allegations of a very serious nature” had been levelled against the former prime minister. Abbasi said that based on the manner in which the former premier had been brought before the accountability court, he did not believe that NAB would be able to provide justice to Nawaz Sharif.

“Prerequisites of justice should be met in all matters,” the PM said, adding: “Not only should justice be done, it must also be seen being done.”

“The Bureau should play its due role against corruption and should fulfill the requirements of justice,” he said, adding that such allegations, just two months prior to the elections, amount to pre-poll rigging.

Earlier, Defence Minister Khurram Dastagir Khan also criticised NAB for launching the money laundering probe against Nawaz.

“It’s not Nawaz’s trial, but the people’s right to rule is being questioned,” he said, adding that democracy is under siege. He further added that the Pakistan Muslim League-Nawaz (PML-N) strongly condemns such arbitrary actions against their Quaid.

Dastgir, referring to the earlier petition which led to Nawaz’s disqualification, further said that a frivolous petition was accepted which led to the ousting of a sitting prime minister. He maintained that they respected the courts and its orders, but the right to criticise cannot be compromised upon.

OPP REJECTS PM’S SUGGESTION:

Syed Naveed Qamar of the PPP said he could understand the prime minister’s concern but he partially disagreed with the idea of summoning the NAB chairman and held it tantamount to interference into NAB affairs.

“It will be a new precedent if we interfere into the matters of an institution that we ourselves created,” he said, adding that he, however, would consult with his party leadership over the issue of constituting a committee on the matter.

Pakistan Tehreek-i-Insaf’s Asad Umar categorically opposed the suggestion of constituting a committee on the issue. He said that interfering into the affairs of NAB would be “tantamount to the murder of justice and accountability” in the country. “NAB is fulfilling the role that the Finance Ministry should have played on the first day the report came out,” he said.

‘FLAWED’ REPORT:

Taking notice of a misleading newspaper article based on a ‘flawed’ report of the World Bank, NAB has started looking into whether ousted premier Nawaz Sharif was involved in the alleged laundering of $4.9 billion to India.

While the World Bank promptly responded to the NAB move and stated that “the report does not include any mention of money laundering nor does it name any individuals”, the State Bank of Pakistan (SBP) said the estimates showed in the WB report were based on “assumptions” which did not reflect reality.

Soon after the SBP clarification, NAB issued a brief statement and questioned: “If the World Bank report is not correct, why they have not changed the figure of $4.9bn from Pakistan in its report?”

An SBP spokesman told a local media outfit that the bank had issued a clarification twice in the past — in 2015 and 2016 — rejecting the WB report.

The WB’s assessment was called a “flawed” one because those who migrated from India and became Pakistan citizens after 1947 did not send back remittances.

The fresh clarification of the WB said its report was an effort to estimate migration and remittances numbers across the world. The report does not include any mention of money laundering nor does it name any individual.

A WB spokesman said: “We would also like to refer to a statement by the State Bank of Pakistan which rejects estimates of $4.9 billion in remittances from Pakistan to India on Sept 21, 2016.”