LAHORE: A detailed verdict of the Lahore High Court into post-arrest bail granted to former defence minister Khwaja Muhammad Asif in an inquiry of illegal assets and money laundering has observed that the opposition leader caused no loss to the national exchequer.

“Neither there is any tangible material, nor even any circumstantial material to prima facie conclude that remittance of Rs 107 million was generation of the proceeds of crime,” says the verdict issued by a two-judge bench comprising Justice Aalia Neelum and Justice Syed Shahbaz Ali Rizvi.

The bench observes that the special prosecutor, responding to queries, categorically admitted that it was not a case of the prosecution that the petitioner acquired assets after receiving any kickbacks or any ill-gotten money or misuse of authority or corruption.

“In view of the statement of the special prosecutor it is not case of the prosecution that the petitioner, by abusing his position, had acquired assets disproportionate to his known sources of income,” it remarks.

Detailed verdict says MNA caused no loss to exchequer

The bench observes that the foreign remittance declared in income tax returns carries the presumption of truthfulness.

“Even the FBR record regarding the petitioner’s claim has supplemented his claim qua the properties, income gained by him and foreign remittance. It is an admitted position that the petitioner did not cause any loss to the government exchequer,” the 18-page judgement states.

The judges express their surprise over the changed stances of the NAB in two reports filed with the court. In its first report on April 28, 2021, the bureau claimed that Asif and his wife had withdrawn salary of Rs29.717 million and Rs10.692 million. Whereas in the subsequent report on June 18, 2021, the salary drawn by Asif and his wife was collectively shown as Rs28.772 million.

The bench notes that the special prosecutor has failed to explain any plausible reason for the decrease in salary of the petitioner and his wife from Rs40.509 million to Rs28.772 million. Similarly the income from business was also shown decreased from Rs82.186 million to Rs50.1569 million without any plausible reason, it adds.

The bench further observes that the audit unit report of 2014 revealed that no discrepancies were found during the conduct of the audit.

It states that a representative of UAE-based International Mechanical and Electrical Company (IMECO) wanted to come to Pakistan, however, the investigating officer did not include the representative of the Dubai company in the investigation.

It says Asif declared his overseas income in his income tax returns but the NAB did not verify his overseas money from 2004 to 2008 with the embassy.

“All above said circumstances make out case of the petitioner one of further inquiry. The prosecution has yet to establish its case before the trial court,” the bench rules.

The bench had granted the bail to Asif on June 23 last through a short order.

The NAB had arrested Asif from Islamabad on Dec 29, 2020 and later shifted him to Lahore where he remained on physical remand till Jan 22, 2021. The former minister is also a sitting MNA of PML-N from NA-73, Sialkot.

The NAB had initiated the inquiry on the complaint of Pakistan Tehreek-i-Insaf’s leader Usman Dar, who had lost his 2018 general election against Asif.

Published in Dawn, July 8th, 2021