AIRLINK 189.36 Increased By ▲ 1.33 (0.71%)
BOP 11.10 Decreased By ▼ -0.76 (-6.41%)
CNERGY 7.28 Decreased By ▼ -0.26 (-3.45%)
FCCL 36.65 Decreased By ▼ -1.14 (-3.02%)
FFL 14.95 Decreased By ▼ -0.29 (-1.9%)
FLYNG 26.19 Increased By ▲ 0.66 (2.59%)
HUBC 130.89 Increased By ▲ 0.74 (0.57%)
HUMNL 13.47 Decreased By ▼ -0.14 (-1.03%)
KEL 4.28 Decreased By ▼ -0.07 (-1.61%)
KOSM 6.08 Decreased By ▼ -0.09 (-1.46%)
MLCF 45.94 Increased By ▲ 0.26 (0.57%)
OGDC 201.86 Decreased By ▼ -4.57 (-2.21%)
PACE 6.12 Decreased By ▼ -0.26 (-4.08%)
PAEL 38.36 Decreased By ▼ -1.95 (-4.84%)
PIAHCLA 16.73 Decreased By ▼ -0.22 (-1.3%)
PIBTL 7.94 Decreased By ▼ -0.09 (-1.12%)
POWER 9.86 Decreased By ▼ -0.17 (-1.69%)
PPL 173.46 Decreased By ▼ -5.38 (-3.01%)
PRL 34.73 Decreased By ▼ -1.63 (-4.48%)
PTC 23.95 Decreased By ▼ -0.44 (-1.8%)
SEARL 101.74 Decreased By ▼ -1.42 (-1.38%)
SILK 1.07 No Change ▼ 0.00 (0%)
SSGC 32.70 Decreased By ▼ -3.54 (-9.77%)
SYM 17.93 Decreased By ▼ -0.30 (-1.65%)
TELE 8.14 Decreased By ▼ -0.24 (-2.86%)
TPLP 12.02 Decreased By ▼ -0.14 (-1.15%)
TRG 67.40 Increased By ▲ 0.07 (0.1%)
WAVESAPP 11.80 Decreased By ▼ -0.21 (-1.75%)
WTL 1.52 Decreased By ▼ -0.05 (-3.18%)
YOUW 3.90 Increased By ▲ 0.01 (0.26%)
BR100 11,819 Decreased By -87.9 (-0.74%)
BR30 35,000 Decreased By -554.1 (-1.56%)
KSE100 112,085 Decreased By -478.8 (-0.43%)
KSE30 34,946 Decreased By -148 (-0.42%)

Former Prime Minister Nawaz Sharif Tuesday filed an appeal in the Islamabad High Court (IHC), challenging accountability court's verdict in the Al-Azizia reference for which he is currently facing a seven-year imprisonment. In his petition, Sharif sought suspension of seven-year imprisonment sentence and Rs 1.5 billion fine handed down to him by an accountability court on December 24 in a corruption reference filed by National Accountability Bureau (NAB) in light of Supreme Court's 2016 Panama verdict.
Nawaz's sons - Hussain Nawaz and Hassan Nawaz - were declared proclaimed absconders by the accountability court. The former prime minister was acquitted in the Flagship reference, which the NAB is also going to challenge in the apex court. In his petition, Sharif maintained that the decision was based on assumptions and false interpretation of law. It stated that the evidence was misperceived and the accountability court announced the verdict without hearing objections pointed out by him.
The appeal sought suspension of the sentence and Sharif's release on bail. The petition will be heard by a two-member bench of the high court.
The Al-Azizia verdict said that the accused no. 1 (Nawaz Sharif) was held guilty for the offence of corruption and corrupt practices and accordingly, is convicted under section 10 of the NAO 1999 'read with schedule thereto'. "And consequent upon his conviction, having regard to the facts and the circumstances of the case, the convict is hereby sentenced to rigorous imprisonment for a term of seven years along with a fine of Rs 1.2 billion and $25 million," said the order.
According to the judgement, Sharif is disqualified to hold any public office for a period of ten years. Likewise, he will not be allowed to apply for or be granted or allowed any financial facilities in the form of loan or advances or other financial accommodation by any bank or financial institution owned or controlled by the government for a period of 10 years from the date. The petition filed by NAB challenging the IHC decision in the Avenfield reference is currently being heard by an apex court bench headed by Chief Justice Mian Saqib Nisar.

Copyright Business Recorder, 2019

Comments

Comments are closed.