SC orders NAB to unfreeze Sharif family's assets

ISLAMABAD: The Supreme Court on Wednesday dismissed the National Accountability Bureau's (NAB) appeal regarding government custody of Sharif family's assets and ordered it to release all their assets, as it has no right to seize the property.

A three-member bench headed by Chief Justice Iftikhar Muhammad Chaudhry was hearing the appeals filed by National Accountability Bureau (NAB) against Sharif family, said that NAB cannot take hold of their property against the punishment.

The court, in his ruling after hearing the NAB plea, ordered the authorities to unfreeze the assets of Pakistan Muslim League-N chief, Mian Nawaz Sharif, his wife Begum Kulsum Nawaz and brother Shahbaz Sharif.

The apex court in its Wednesday's ruling stayed Lahore High Court orders issued on November 10, 2011 and later challenged by the NAB.

The court told that Nawaz Sharif's punishment is over and, therefore, NAB has no right to seize Sharif brothers' property.

The cases related to Hudabiya Paper Mills, Hamza Spinning Mills, Ramzan Sugar Mills and others including confiscation of property.

The NAB Prosecutor General KK Agha also appeared before the court and presented an agreement signed between Nawaz Sharif and the government, arguing against the verdict saying that this way any one can come to get their assets released, but the court responded by saying that the Lahore High Court has already clearly said that the assets which are related to security fall under the court's jurisdiction and not the NAB.

The court said that the LHC has heard the cases against the family and has released them, and now there is no case left against them, adding that adding that keeping the Sharif family assets in custody was an "unlawful and unconstitutional" act on behalf of NAB.

Last year in December, the NAB had appealed in the apex court to challenge the Lahore High Court's verdict delivered on October 4, 2011 for returning shares worth Rs115 million. The appeal listed PML-N chief Nawaz, his brother Shahbaz Sharif and at least a dozen family members as respondents.

NAB had stated that the LHC committed an error in deciding "that there was no agreement/settlement between Mian Nawaz Sharif and the federal government". The LHC had ignored the SC's judgment, which clearly proved the existence of such an agreement, according to the appeal.

Agha told the court that NAB wanted to hold the property of Sharif brothers until the case was resolved. Responding to which, Chief Justice Iftikhar remarked that NAB had no authority to hold the property until a reference could be presented against the Sharif brothers.

Akram Shaikh Advocate appeared on behalf of Sharif family in the case. Following the strong admonishment by the Supreme Court earlier this month, NAB has sprung into action on the cases reopened after the scraping of National Reconciliation Ordinance (NRO) by the apex court. (PPI)