Rana BanerjiMember, Governing Council, IPCS, & former Special Secretary, Cabinet Secretariat, Government of India
The long awaited Panama Papers verdict on 20 April, 2017, by the five-judge bench of Pakistan's Supreme Court has stopped short of disqualifying Prime Minister Nawaz Sharif and given him a temporary reprieve by ordering investigation by a Joint Investigation Team (JIT) of officials, including those from the Inter-Services Intelligence (ISI) and Military Intelligence (MI), within 60 days, under Court supervision.
The 3-2 split verdict suggests that while there may have been enough substance to justify that Sharif may not have been either `sadiq’ (honest) or `ameen’ (trustworthy), thus meriting disqualification under Articles 62 and 63 of their Constitution, this power could not be exercised by the Supreme Court in its `original jurisdiction’ powers under Art 184(3), as it did not relate to a question of public importance related to a Fundamental Right. It purports though, that there were enough grounds to believe that the prime minister and his family members had obfuscated the money trail about the off-shore accounts and especially, the transaction pertaining to purchase of the Mayfair flats in London.
The JIT has been tasked to work on a `thirteen point’ list of items pertaining to the money trail covering the setting up of the Gulf Steel Mill in Dubai; subsequent sales in Saudi Arabia and Qatar; and details of purchase transactions of the Mayfair flats. The judgment virtually dismisses the veracity of the Qatari Sheikh, Jabbar al Thani’s bailout letters about the money transactions. It also opens up the possibilities of re-opening of the Hudaibiya Paper Mills money laundering investigations of the early 1990s by either the Federal Investigation Authority (FIA) or the National Accountability Bureau (NAB). The role of NAB Chief Qamar Zaman in not challenging the September 2014 Lahore High Court verdict exonerating the Sharifs in the Hudaibiya case has been castigated. The JIT’s would now be `a criminal investigation’, which would have to be placed before a fresh bench of the Supreme Court to finally decide on the matter.