Pakistan: Federal Investigation Agency gets nod to probe National Accountability Bureau's 'negligence' in Broadsheet case

Pakistan's law ministry has given nod to the Federal Investigation Agency (FIA) to proceed against the National Accountability Bureau (NAB) over its alleged "negligence" in the Broadsheet case, local media reported.

According to Dawn, the federal cabinet, headed by Prime Minister Imran Khan, had formed a one-man commission comprising retired Justice Sheikh Azmat Saeed in January this year to probe the execution of contract and payments to Broadsheet LLC in connection with investigation into the offshore properties of Pakistani politicians.

The commission completed the probe in March and submitted its report to the Prime Minister Office. The federal cabinet in a subsequent meeting referred the matter to the FIA for a thorough investigation, the Pakistani newspaper reported.

NAB, on the other hand, challenged the FIA's jurisdiction and initially wrote to the agency, asking it to stop the probe until the cabinet reconsidered its decision on assigning the Broadsheet case to the investigation agency, Dawn reported.

It further reported that the matter was then referred to the law ministry which opined that pursuant to the decision of the federal cabinet, the FIA had the authority to investigate the anti-graft watchdog.

Broadsheet LLC was hired by Pakistan more than two decades ago to trace assets belonging to former prime minister Nawaz Sharif and his family members, as well as several other politicians and businessmen, including Asif Ali Zardari and Benazir Bhutto, Geo News reported.

Pakistan broke off the contract early, in violation of the agreement it had signed, and the case has so far cost Pakistan close to 65 million dollars in legal fees and awards after Kaveh Moussavi, who beneficially owns Broadsheet, brought the case before sole arbitrator Sir Anthony Evans QC under the rules of the Chartered Institute of Arbitrators.

The arbitration judge found that Pakistan had "conspired to criminally defraud" Broadsheet Isle of Man. Broadsheet's lawyers convinced London High Court to seize Pakistan's assets at the United Bank Limited (UBL) in December 2020. Since then, Broadsheet has made further claims over the remaining payment owed, by way of interest and costs, Geo News reported.

( With inputs from ANI )