Jzaib
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Updated about 3 hours ago
Sharif would have to take a difficult decision, as it can steal the PPP's support for the govt's stance against PTI.—AP/File
ISLAMABAD: Although the ability to recover national assets stashed away in foreign banks should come as good news to the Pakistan Muslim League-Nawaz, the timing of a recent judgment in favour of the government of Pakistan may put Prime Minister Nawaz Sharif in a very awkward position.
A Swiss federal tribunal has ruled that a valuable jewellery set that was seized by authorities in connection with investigations into allegations of graft belonged to former president Asif Ali Zardari or the legal heirs of the late Benazir Bhutto. The set, which includes a necklace, a bracelet, a pair of earrings and a ring, is said to be valued at over $180,000.
In the judgment issued on Oct 29, a copy of which is available with Dawn, the tribunal rejected ownership claims filed by Bomer Finance for the jewellery. The company was allegedly formed by Mr Jens Schlegelmilch and linked to Mr Zardari and was at the centre of the SGS-Cotecna investigation.
According to Francois Roger Micheli, a counsel from the firm Python and Peter, which represented the government of Pakistan before the Swiss tribunal, the judgment handed down states that Mr Schlegelmilch “appeared to have acted as the attorney for the BB-AAZ (Benazir Bhutto-Asif Ali Zardari) couple”.
Swiss tribunal declares jewellery to be property of Benazir and Zardari
This vindicates the government’s stance and is also in line with an earlier decision by the Geneva court of appeal. Sources said that lawyers from Python and Peter have informed the government of Pakistan that this judgment meant that Bomer Finance had not been able to establish that it was the legal owner of the jewellery set. In addition, they say that Mr Schlegelmilch could not prove that he acted as a board member of the Bomer while acquiring the jewellery set.
Sources close to the attorney general of Pakistan said the government would formally take a decision on the matter once it receives the original judgment through proper channels. But a copy of the tribunal’s judgment has already been sent to Islamabad.
Also read: Zardari refuses to take on PML-N
Attorney General Salman Aslam Butt refused to comment on the matter, while the Prime Minister’s Spokesperson Dr Musaddik Malik could not be reached, despite several attempts.
But another official privy to the proceedings of the case said that the attorney general’s office had indeed received an unofficial copy of the judgment, while the PM was abroad. The official said that the PM would be briefed upon his return and only then would a decision be taken on the matter.
The government is now faced with an uncomfortable political choice. Publicly, Finance Minister Ishaq Dar has committed to repatriating assets that were stashed away in foreign banks and this case is their opportunity to do just that.
On the other hand, given the ruling party’s recent troubles with the Pakistan Tehreek-i-Insaf and Pakistan Awami Tehreek, many feel that this may not be the ideal time to antagonise the Pakistan People’s Party, which has proven to be an indispensible ally for the government in recent months.
The official Dawn spoke to, however, maintained that, “Legally, it is a strong case for the government to ensure recovery.”
The case was originally filed by the attorney general for Pakistan in October of 1997 against Benazir Bhutto, her mother Nusrat Bhutto and husband Asif Ali Zardari.
The jewels were among items reportedly seized the same year, but the original cases were closed in 2008 following the promulgation of the National Reconciliation Ordinance. However, the cases were reopened on the orders of the Supreme Court of Pakistan. Mr Zardari has, in the past, publicly disowned these ornaments and denied allegations of corruption in the SGS-Cotecna scandal.
Published in Dawn, November 24th , 2014
@razahassan1997 @syedali73 @Leader @WishLivePak @orangzaib @Proudpakistaniguy
Updated about 3 hours ago
Sharif would have to take a difficult decision, as it can steal the PPP's support for the govt's stance against PTI.—AP/File
ISLAMABAD: Although the ability to recover national assets stashed away in foreign banks should come as good news to the Pakistan Muslim League-Nawaz, the timing of a recent judgment in favour of the government of Pakistan may put Prime Minister Nawaz Sharif in a very awkward position.
A Swiss federal tribunal has ruled that a valuable jewellery set that was seized by authorities in connection with investigations into allegations of graft belonged to former president Asif Ali Zardari or the legal heirs of the late Benazir Bhutto. The set, which includes a necklace, a bracelet, a pair of earrings and a ring, is said to be valued at over $180,000.
In the judgment issued on Oct 29, a copy of which is available with Dawn, the tribunal rejected ownership claims filed by Bomer Finance for the jewellery. The company was allegedly formed by Mr Jens Schlegelmilch and linked to Mr Zardari and was at the centre of the SGS-Cotecna investigation.
According to Francois Roger Micheli, a counsel from the firm Python and Peter, which represented the government of Pakistan before the Swiss tribunal, the judgment handed down states that Mr Schlegelmilch “appeared to have acted as the attorney for the BB-AAZ (Benazir Bhutto-Asif Ali Zardari) couple”.
Swiss tribunal declares jewellery to be property of Benazir and Zardari
This vindicates the government’s stance and is also in line with an earlier decision by the Geneva court of appeal. Sources said that lawyers from Python and Peter have informed the government of Pakistan that this judgment meant that Bomer Finance had not been able to establish that it was the legal owner of the jewellery set. In addition, they say that Mr Schlegelmilch could not prove that he acted as a board member of the Bomer while acquiring the jewellery set.
Sources close to the attorney general of Pakistan said the government would formally take a decision on the matter once it receives the original judgment through proper channels. But a copy of the tribunal’s judgment has already been sent to Islamabad.
Also read: Zardari refuses to take on PML-N
Attorney General Salman Aslam Butt refused to comment on the matter, while the Prime Minister’s Spokesperson Dr Musaddik Malik could not be reached, despite several attempts.
But another official privy to the proceedings of the case said that the attorney general’s office had indeed received an unofficial copy of the judgment, while the PM was abroad. The official said that the PM would be briefed upon his return and only then would a decision be taken on the matter.
The government is now faced with an uncomfortable political choice. Publicly, Finance Minister Ishaq Dar has committed to repatriating assets that were stashed away in foreign banks and this case is their opportunity to do just that.
On the other hand, given the ruling party’s recent troubles with the Pakistan Tehreek-i-Insaf and Pakistan Awami Tehreek, many feel that this may not be the ideal time to antagonise the Pakistan People’s Party, which has proven to be an indispensible ally for the government in recent months.
The official Dawn spoke to, however, maintained that, “Legally, it is a strong case for the government to ensure recovery.”
The case was originally filed by the attorney general for Pakistan in October of 1997 against Benazir Bhutto, her mother Nusrat Bhutto and husband Asif Ali Zardari.
The jewels were among items reportedly seized the same year, but the original cases were closed in 2008 following the promulgation of the National Reconciliation Ordinance. However, the cases were reopened on the orders of the Supreme Court of Pakistan. Mr Zardari has, in the past, publicly disowned these ornaments and denied allegations of corruption in the SGS-Cotecna scandal.
Published in Dawn, November 24th , 2014
@razahassan1997 @syedali73 @Leader @WishLivePak @orangzaib @Proudpakistaniguy
