$29m paid to Broadsheet for Mush govt's deal with Nawaz, Senate told.

Byline: Imran Mukhtar

ISLAMABAD -- The ruling Pakistan Tehreek-e-Insaf (PTI) Monday told the Senate that the government had to make payment of $29 million in damages to the asset recovery firm Broadsheet LLC due to the deal made by the then General (retd) Pervez Musharraf regime with PML-N supremo Nawaz Sharif in December 2000.

The government also said that then PPP government had made a wrong payment of $1.5 million to a 'wrong firm' in 2008 and all proceedings of the arbitration in Broadsheet case were held in UK during the last two governments of PPP and PML-N, both the opposition parties.

Responding to the criticism of opposition about the payment made by government to Broadsheet LLC, Adviser to the Prime Minister on Accountability Shahzad Akbar told the house that the arbitrator in London held guilty the then government of Pakistan for making a deal with Nawaz Sharif in December 2000 which allowed him to live in self-exile in Saudi Arabia.

'Neither we are saying this nor any JIT (Joint Investigation Team) says this, but (the judgement of) an arbitrator in London is saying this which has been validated by a high court in London,' the adviser said while quoting the judgement. He said that the arbitrator ruled that the Broadsheet suffered the loss of its honest earning as a result of this deal.

Secondly, he said that quantum decision of the arbitrator has two parts in which details of the liability, that has been fixed, have been given. In first part, it fixed $100 million as 20 percent share of Boardsheet for recovering assets of Shaun Group of worth $48760, Lakhani Group $25000, Fouzi Kazmi $85000, General (retd) Zahid Ali Akbar $381,000, former chief minister Khyber Pakhtunkhwa Aftab Ahmed Khan Sherpao $210,000 and Ansari's assets of worth $180,000, and $158000.

The second part of liability award, out of total $21.5 million, was fixed for $1.5 million for recovering Avenfield properties of Sharif family, Shahzad said adding that other $19 million liability was fixed for recovering Sharif family's other assets. The total liability was $21.5 million and government had to pay the remaining amount, out of total $29 million...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT