–NAB says ex-Punjab CM’s son failed to justify increase in assets, money transactions
LAHORE: The Lahore High Court (LHC) on Wednesday extended the interim pre-arrest bail for Opposition Leader in Punjab Assembly Hamza Shehbaz till April 25, as the National Accountability Bureau (NAB) argued that it had evidence that the latter was involved in money laundering and corrupt practices.
A NAB team seeking Hamza’s arrest was embroiled in a nearly five-hour-long standoff with his private security and supporters at his family’s Model Town residence on April 6. It was the second day in a row that the NAB had approached his residence for his arrest. The stalemate ended once the LHC restrained the bureau from arresting the MPA and granted him protective bail until April 8, before extending it to April 17.
On Wednesday, the NAB lawyer told the court that the bureau’s replies in the Saaf Pani case, the Ramzan Sugar Mills case and the money laundering case had been submitted.
According to the corruption watchdog, Hamza chaired Saaf Pani Company meetings without having any authority. It transpired during probe that Hamza Shehbaz influenced contracts issued by the company.
It further said that the Pakistan Muslim League-Nawaz (PML-N) leader exceeded his authority in the Ramzan Sugar Mills, and ordered construction of a drain for financial gains. The NAB told the court that Rs180 million were transferred to the account of Shehbaz between 2005 and 2008, and subsequently the amount was transferred abroad.
During the investigation, the PML-N leader also failed to give a satisfactory answer to transaction of Rs180m made into his account, the NAB stated.
The prosecutor said Hamza Shehbaz was also a shareholder in Ramzan Energy Limited.
The NAB said assets of children of Shehbaz Sharif were worth Rs50m in 1999, while Hamza Shehbaz showed Rs22m assets in his declaration in 2001. In 2017, the assets owned by Hamza rose to a value of Rs411m. The prosecutor said Hamza failed to justify legality of his Rs388m out of total assets.
The NAB official said Shehbaz Sharif inherited only Ramzan Sugar Mills, while Shehbaz’s children and mother had 11 factories to their name. He said the sources of Sharif family’s assets of Rs 3.7 billion couldn’t be traced.
The NAB alleged that Hamza Shehbaz indulged in money laundering to hide illegal sources of his income.
Meanwhile, Hamza’s lawyer argued that he had not been provided proper copies of the reply.
“The copies we got are not readable. Had we had proper copies we would have submitted our response to the replies today,” the lawyer said.
The bench, after calling Hamza to the rostrum, extended his bail till April 25.