ISLAMABAD (Monitoring Desk) - The federal government on Thursday laid down the terms of reference (TORs) in a foreign jurisdiction to identify cases of money laundering and legal proceedings in Pakistan in 1990.
Three days after the government-appointed Justice (retd) Azmat Saeed Sheikh as the head of a one-member commission to investigate the Broadsheet scandal, it completed the TORs. These include inquiries against political activists, including former Prime Minister Nawaz Sharif and former President Asif Ali Zardari.
The Government
The commission will review efforts by the previous governments of the Pakistan Muslim League-Nawaz, Pakistan Muslim League-Q, and the Pakistan People's Party to recover money illegally withdrawn from Pakistan. The commission will also consider whether the inquiries were closed, dropped, or withdrawn without any justification, resulting in heavy losses to the country.
The Government has constituted a Commission under Section III of the Commission of Inquiry Act, 2017. A copy of the TOR document available with The News Geo News states that the federal government or other agencies, authorities, bureaus, will work to track down such and such illegal money laundered citizens. Tracking - It will also review arrangements and agreements with various different individuals, legal entities, firms, etc. to track these national assets.
The Commission will review the selection and appointment process of Travis LLC, Broadsheet LLC, and International Asset Recovery Limited (IAR) and implement the agreements reached in 2000. LLC and IAR in 2003.
The commission
Headed by former Supreme Court Judge Azmat Saeed, will identify Pakistan's reasons for the 2008 settlement and the payments to IAR and Broadsheet LLC. And what was the justification for paying the fee? In other TORs, the Commission will identify the person or persons who were liable for the wrongful payment of 500 500,000 in 2008 to the wrong person, who was not entitled to this payment.
Section 10 (b) of the Act will also empower the Commission to form special teams of officers consisting of executive officers and experts in a particular field to assist the Commission in its investigation. Special teams will have rules that are provided under existing laws. The commission will also determine whether the arbitration proceedings before the London Court of International Arbitration (LCIA) and subsequent appeals to the High Court of Justice in London were immediate and effective.
It will also determine that
After finalizing the award and appealing to the High Court in London, the payment to the claimant was legal and in accordance with the prescribed rules and procedures. It will also indicate the responsibility of an individual or organization who has committed serious negligence or mismanagement or acted with a vague motive or purpose in the matter.
The commission was set up by high-ranking government officials to expose corruption and the process of corruption, which led to mega-scams and irreparable economic losses to the people using multi-faceted transactions. The federal government, reflecting the will of the people, is committed to finding and tracing immovable national wealth abroad and holding it accountable locally.
