ISLAMABAD: Intizar Hussain Panjotha, the counsel for jailed ex-prime minister Imran Khan, made the “trust deed of Al-Qadir University project” public on Thursday, saying there is neither any allegation of a single penny corruption nor a single penny was transferred into the accounts of Imran Khan and his wife Bushra Bibi – the trustees of the Al-Qadir University Trust.
Speaking at a presser on the directives of the former prime minister, Panjotha said that the project is no different than Namal University, as it is clearly mentioned in the trust deed that “the trustees may reimburse themselves of all expenses actually incurred by them in connection with the trust or their duties relating thereto”.
He said that this has already been proved during the ongoing investigations by the National Accountability Bureau (NAB) that the PTI chief or any of his relatives had not gotten any monetary benefit from Al-Qadir University Trust, as it was solely established to provide free quality education – both religious and contemporary – to the poor segment of the society.
According to the aims and objectives of the trust, “to set up AI-Qadir University in various disciplines including Islamic studies and sciences. To set up any additional educational institutes, schools, colleges, and/ or universities across the country for the promotion of education in Pakistan. To provide quality education to all sections of the society regardless of caste, creed, race, religion or financial standing”.
He maintained that it is clearly written in the agreement that the “trustees shall not be entitled to receive any remuneration as Trustee but may reimburse themselves of all expenses actually incurred by them in connection with the trust or their duties relating thereto”.
“No trust property income and/ or trust property shall be paid, transferred directly or indirectly by way of profit, dividend, bonus or otherwise to any of its trustees or their relatives,” said the agreement.
“It shall be within the competence of the Trustees to sell and convert into cash the trust property or any part thereof and hold the proceeds of such sale or sales after receiving payment of the expenses incidental thereto and the remaining may be used for either purchase of or investment in either immovable properties and/ or trust securities which shall become the trust property and be subject to the terms and conditions thereof,” it added.
The agreement says that “the settlor and founder are desirous of setting up a Trust with, interalia, the aim and objective of setting up, educational institutions for advancement of knowledge and promotion of education”.
“For the aforesaid purpose the settlor and founder desires to create a trust and does hereby deliver and transfer to the trustees, a sum of rupees fifty thousand only in cash and all their rights, title and interest therein to have and to hold the same unto the trustees upon and subject to the trusts, powers and provision hereinafter declared and contained,” it added.
Copyright Business Recorder, 2023
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