Daily Times

ISLAMABAD: In compliance with the Supreme Court’s order, Pakistan Tehreek-e-Insaf (PTI) on Thursday submitted its Terms of References (ToRs) for likely Panamagate Commission, mostly emphasising questions regarding the ‘money trail’ spent for purchasing the properties of Prime Minister (PM) Nawaz Shareef. ToRs jointly compiled by Naeem Bukhari and Hamid Khan, the legal brains of PTI, categorised the properties and assets of prime minister.

The ToRs include ownership of Flats No. 16, 16-A, 17 and 17-A situated at Avenfield House, Park Lane, London, Gulf Steel Mills in Dubai, Azizia Steel Mills Jeddah.

ToRs stated that it was not disputed that the collateral to the loan from Al Towfeek Company were the Mayfair Flats and were attached / charged for the payment of loans, adding that it was also not disputed that by judgment dated 16th March 1999, Shahbaz Sharif was directed to pay USD 17,719,315 or its sterling equivalent while Mian Mohammad Sharif and Mian Mohammad Abbass Sharif were directed to pay a total of USD 15,504,732. It is also not in dispute that the Mayfair flats were not auctioned to satisfy the loan and Maryam Nawaz remains the beneficial owner.

The ToRs also include questions regarding the premier’s statement of assets or liabilities when he was finance minister in the Punjab province. He contested on four occasions in 1980, 1985, 1990, 1993, 1997 and 2013. The ToRs further include allegedly false statements of assets and liabilities filed by PM’s son-in-law Captain (r) Muhammad Safdar and statements under Section 164 Cr.Pc of money laundering by finance minister Ishaq Dar.

Regarding the flats mentioned above, the PTI asked about the cost and source of transactions for purchasing Flats No. 17, 16, 16-A and 17-A in 1993, 1995 and 1996 respectively. The ToRs further include that in the PM’s wealth tax statement submitted in 2013, Maryam Safdar is shown as a dependent to whom unspecified land worth Rs. 324,851,526 has been transferred.

But Maryam Nawaz as dependent of PM is also the beneficial owner of Nescol Limited and Nielson Enterprises Ltd as established from the Panama papers. “Did Respondent No. 1 (PM) willfully conceal the assets (Mayfair Flats) in his wealth statement and file a false return of assets in the name of his dependent?” ToRs asked.

PTI’s ToRs further stated that Nawaz Sharif filed Income Tax returns in October 2012 (for 2012), November 2011 (for 2011) and in October 2010, but submitted wealth statements for these years on March 21, 2013 and without paying the mandatory penalty prescribed by Section 182 (1). “The maximum penalty not paid by PM was Rs 555,780 for the year 2012, Rs. 556,117 for the year 2011 and Rs. 503,245 for the year 2010. Did this late filing of wealth statement without paying the prescribed penalty render Respondent No. 1 ineligible in terms of Article 62(1)(d),(e) and (f),” ToRs stated.

The document of ToR further stated that in the wealth statement for the tax year 2011, the prime minister claimed to have gifted Rs. 31, 700,000 to his daughter Maryam Safdar and Rs. 19,459,440 to his son Hussain Nawaz (the same son who had ostensibly remitted Rs. 20 crores from abroad). Since these transfers called gifts were not through crossed cheques, they did not qualify as admissible gifts and remained income in the hands of the PM. “Is he liable to pay income taxes? Is he a defaulter for not paying due income tax?” it asked.

PTI through its ToR asked Nawaz Sharif if he had taken any action against Rehman Malik for allegedly pocketing USD 160 million from a contract to build a highway from Lahore, his home town, to Islamabad, the nation’s capital.

Does the statement of Mr. Ishaq Dar which admits money laundering, opening fake accounts in Citi Bank Lahore, Emirates Bank Lahore, Atlas Investment Bank Lahore, Al-Baraka Bank, Al-Tawfeeq Investment Bank etc. render him ineligible to be and/or remain a Member of the Parliament?

ToRs further asked about the prime minister’s financial interests Mian Muhammad Bukhsh Textile Mills, Hamza Spinning Mills, Ali Haroon Textile Mills, HanifSiraj Textile Mills, Farooq Barkat Pvt. Ltd, Abdul Aziz Textile Mills, Barkat Textile Mills, HaseebWaqas Rice Mills, Sardar Board and Paper Mills, Model Trading House, Pvt. Ltd, HaseebWaqas Group, HaseebWaqas Engineering, HaseebWaqas Farms Ltd.

The ToRs questioned the role of Federal Board of Revenue (FBR) as to whether the claimed transfer of amounts by Respondent No.1 to his daughter Maryam Nawaz (Rs. 31,700,000) and Rupees 19,459,440/- was through cross cheques and could be treated as gifts under the Income Tax Ordinance?

It further asked who the owner of land in Raiwind (Jati Umra) used as the residence of PM. How many kanals does it comprise? If the land is recorded in the name of the PM’s mother, what was her source of income? What has been declared as the cost of construction of Raiwind palace in Jati Umra and why has the same been accepted by the FBR? Why have the prescribed penalties not been imposed by FBR for late filing of wealth tax returns?