Arrest warrants for Nawaz in Chaudhry Sugar Mills case

Published October 11, 2019
The National Accountability Bureau (NAB) has issued arrest warrants of former Prime Minister Nawaz Sharif in Chaudhry Sugar Mills case and is likely to present him before an accountability court today (Friday). — AFP/File
The National Accountability Bureau (NAB) has issued arrest warrants of former Prime Minister Nawaz Sharif in Chaudhry Sugar Mills case and is likely to present him before an accountability court today (Friday). — AFP/File

LAHORE: The National Accountability Bureau (NAB) has issued arrest warrants of former Prime Minister Nawaz Sharif in Chaudhry Sugar Mills case and is likely to present him before an accountability court today (Friday).

Sources said the NAB chairman had issued arrest warrants of Mr Sharif in the case and a team of Lahore bureau would visit him in the Kot Lakhpat jail on Friday to take him to the accountability court for his physical remand.

Mr Sharif is serving a seven-year imprisonment in Al-Azizia Mills corruption case. NAB has already arrested his daughter Maryam Nawaz and nephew Yousuf Abbas in the Chaudhry Sugar Mills case. Both of them are on judicial remand till Oct 23.

NAB mainly accused Maryam of being involved in money laundering under the garb of sale/purchase of the sugar mills’ shares. It said she had become the largest shareholder of the mills in 2008, having over 12m shares and her assets had been found disproportionate to her income.

It said the mills was shifted from Gojra to Rahim Yar Khan in 2015 at a cost of Rs1.5bn and this amount had not so far been justified by the suspects.

On the other hand, Maryam’s counsel challenged the jurisdiction of NAB to investigate matters of companies. He said sale and purchase of shares was in accordance with laws of the Security & Exchange Commission of Pakistan (SECP) and the Companies Act 2017 and argued that power to investigate into any irregularity of a sugar mills vested with the SECP.

He said all financial affairs of the mills had already been thoroughly investigated by a JIT formed by the Supreme Court in Panama Papers case.

Any further inquiry into the same matter would amount to double jeopardy, he argued.

Published in Dawn, October 11th, 2019

Opinion

Editorial

Price bombs
Updated 18 Jun, 2024

Price bombs

It just wants to take the easy route and enjoy the ride for however long it is in power.
Palestine’s plight
Updated 17 Jun, 2024

Palestine’s plight

While the faithful across the world are celebrating with their families, thousands of Palestinian children have either been orphaned, or themselves been killed by the Israeli aggressors.
Profiting off denied visas
Updated 19 Jun, 2024

Profiting off denied visas

The staggering rejection rates underscore systemic biases in the largely non-transparent visa approval process.
After the deluge
Updated 16 Jun, 2024

After the deluge

There was a lack of mental fortitude in the loss against India while against US, the team lost all control and displayed a lack of cohesion and synergy.
Fugue state
16 Jun, 2024

Fugue state

WITH its founder in jail these days, it seems nearly impossible to figure out what the PTI actually wants. On one...
Sindh budget
16 Jun, 2024

Sindh budget

SINDH’S Rs3.06tr budget for the upcoming financial year is a combination of populist interventions, attempts to...