Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Thursday, April 19, 2018 04:04:09 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Pakistan PM faces pressure after damning corruption probe report

photo by AP photo

Pakistan\'s Prime Minister Nawaz Sharif gestures as he speaks to media after appearing before a Joint Investigation Team (JIT) in Islamabad, Pakistan.

By
12th-Jul-2017       
Comments
Share your thought
Post a comment »
Read all () »

Reuters, Islamabad :
Pakistani Prime Minister Nawaz Sharif was fighting for his political future on Tuesday after judicial investigators ruled his family had accumulated unusual wealth, with his allies denouncing the findings and vowing he would clear his name.
A Joint Investigation Team (JIT), set up by the Supreme Court to investigate corruption allegations that surfaced following the Panama Papers leak, spent two months looking into the family's wealth and gave its finding to the court on Monday.
In their report, which has been leaked to media, the team alleges Sharif's family accumulated wealth far above its earnings, and says his children, including heir-apparent Maryam Sharif, signed falsified documents designed to mask the truth.
Opposition leader Imran Khan said Sharif had "lost all moral authority" and must resign immediately.
But Sharif's allies dismissed all the allegations against him and the report.
"It's trash," said Defence Minister Asif Khawaja, adding that the report was "full of flaws".
Sharif, the son of an industrialist, has denied wrongdoing and said his family's wealth was acquired legally.
In April, the Supreme Court ruled that there was insufficient evidence to remove Sharif from office - by a split 2-3 verdict - but it ordered further investigations, which the JIT was set up to carry out.
Sharif's daughter Maryam was not available for comment but she also dismissed the report in a post on Twitter.
"JIT report REJECTED. Every contradiction will not only be contested but decimated in SC," she wrote, referring to the Supreme Court.
The investigation has spooked investors in Pakistan's equity market, with the benchmark index in retreat since June over fears Sharif's removal would plunge Pakistan back into chaos after years of relative stability.
"After this JIT report, the prime minister's position has weakened and becomes unpredictable. He may have to leave," Talat Masood, a political analyst, told Reuters.
Pakistan has for decades been plagued by rivalry between the military and civilian politicians and by pervasive graft.
Sharif was originally nurtured by the military and served as prime minister twice in the 1990s before he himself was ousted in a 1999 coup leading to a decade of exile.
He won a third term as prime minister in a 2013 election. Since then, periods of tension between him and the powerful military have led to questions about his prospects.
His brother, Shabaz Sharif, is chief minister of Punjab, Pakistan's most populous and economically and politically most important province.
The team in its 254-page report alleges the family's businesses alone are not enough to explain its wealth, which includes upscale London flats.
The team recommended the anti-corruption National Accountancy Bureau (NAB) file a case against Sharif, according to a copy of the report seen by Reuters, as well as reporting by Dawn newspaper and other media.
The inquiry has gripped Pakistanis and, after it was handed to the Supreme Court, the stock market plunged 3.1 percent early on Tuesday.
"The market has taken the suggestions of an NAB investigation and the overall JIT report as a negative," said Saad Hashmey, research director at brokerage Topline Securities.
"We expect volatility," he said.
The Supreme Court will decide how to proceed and whether to call for a trial.
Sharif's term expires in June 2018 and elections are expected two months later. If he were forced to step down, his ruling PML-N party can appoint a new prime minister until the elections.
The JIT team is made up of civilians and members of military agencies, including the military's main Inter-Services Intelligence agency.

Tariff
Add Rate

News Archive

Inside The New Nation

Editorial »

Ensure proper working atmosphere in RMG sector


WORKERS at more than 3,000 subcontracting readymade garment factories in Bangladesh have been working under dangerous conditions even five years after Rana Plaza collapse as the factories still lack of safety measures, according to a recent study of New York University. The study titled 'Five Years After Rana Plaza: The ...

Football »

Draw ceremony of SAFF Championship held


Sports Reporter :The draw ceremony of SAFF Championship was held at the Pan Pacific Sonargaon Hotel in the city on Wednesday.President of BFF and President of SAFF Kazi Md Salahuddin, Regional Country Manager of Maruti Suzuki Seije Hamda, Senior Vice-President of BFF Abdus Salam Murshedy, Vice-President of BFF Kazi Nabil ...

Sports »

The Thailand-bound Bangladesh Hockey team pose for photo at the Falcon Hall of Bangladesh Air Force Office in the city's Tejgaon on Wednesday.


Entertainment »

Is Natasha Suri Lady Luck for Dwayne Bravo?


A few days ago Natasha Suri and Dwayne Bravo were spotted laughing and chatting away animatedly, in spite of the attention of on-lookers and fans at a SoBo coffee shop. She was also spotted in the VIP box watching the IPL match the next evening at Wankhede Stadium in Mumbai. ...

Entertainment »

Gauahar Khan’s Gauahargeous loved by all


Gauahar Khan, appreciated for her performances in Begum Jaan, Ishqzaade and countless other blockbusters turned into an entrepreneur on 15th March. Known to the fact that her fashion sense is loved by the masses both on and off screen, she launched her clothing called Gauahargeous. To ensure that quality tops ...

City »

BNP Standing Committee Member Amir Khasru Mahmud Chowdhury speaking at a protest rally organised by 'Arafat Rahman Koko Smrity Sangsad' at the Jatiya Press Club on Wednesday demanding release of BNP Chairperson Begum Khaleda Zia and other leaders of the party.


International »

US in `extremely high` level talks with North Korea on summit: Trump


Reuters  Beach, Fla :President Donald Trump said on Tuesday the United States is engaged in direct talks at "extremely high levels" with North Korea to try to set up a summit between him and its leader, Kim Jong Un.Trump made the comment as he and Japanese Prime Minister Shinzo Abe ...

Editorial »

Extra judicial killing has to be stopped no matter who do it


THE country has witnessed at least one extra-judicial killing, reported as alleged incidents of 'gunfight' and 'crossfire', in every two days since the beginning of 2018. That means, the gross violation of human rights by law enforcement agencies with impunity continues unabated. Rights activists are worried while allegations have been ...

Cricket »

South Zone suffer batting collapse


Prime Bank South Zone suffered batting collapse as they were dismissed for 191 against Walton Central Zone on the first day of the fifth round of four-day Bangladesh Cricket League held on Tuesday at Shaheed Kamruzzaman Stadium in Rajshahi.Central bowlers not only shine with the leather but their batsmen too ...

International »

Syrian air defence shoots down missiles over Homs


Reuters, Amman :Syrian anti-aircraft defences shot down missiles fired at the Syrian air base of Shayrat in Homs province late on Monday and another base northeast of the capital, Damascus, Syria's state television and pro-Iranian Hezbollah media said.State television showed pictures of a missile that was shot in the air ...

International »

US, Britain blame Russia for global cyber attack


Reuters, Washington :The United States and Britain on Monday warned of a global cyber attack targeting routers and other networking equipment, blaming Russian government-backed hackers for the campaign on government agencies, businesses and critical infrastructure operators.Washington and London issued a joint alert, saying the widespread, global campaign began in 2015 ...

Entertainment »

Monali Thakur launches her first independent single


Famed for being entitled with a national award for Moh Moh Ke Dhaage, Monali Thakur is highly appreciated for her melodious and soothing playback tracks. This singer is now ready to bedazzle her fans with her exclusive single track called Tamanna. This track is her first independent single and has ...

Entertainment »

Zoya Akhtar bids adieu to Alia Bhatt from the sets of Gully Boy


Gully Boy star Alia Bhatt who was busy shooting in the city finally wrapped the film's schedule yesterday. Director Zoya Akhtar took to her social media sharing a picture of a bouquet with a warm note while bidding adieu to Alia Bhatt. Zoya shared, "Thank you Lulu. What a privilege ...

City »

A portion of the city road goes under water due to brief rain on Tuesday for the want of proper drainage system. The snap was taken from Sher-e-Bangla Nagar area.


Sports »

PSG win title after crushing defending champion Monaco


AP, Monaco :Paris Saint-Germain won the French league title after beating defending champion Monaco 7-1 on Sunday, with the crushing victory highlighting the obvious gulf between the two teams this season.Monaco meekly surrendered the title that it had won so impressively last season, doing little to prolong the suspense. It ...

 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news