Pakistan's anti-corruption watchdog orders inquiry against former PM Nawaz Sharif over laundering USD 4.9 billion to India

NAB claims that the amount was laundered to the Indian finance ministry after which Indian foreign exchange reserves witnessed an increase and Pakistan suffered as a result.

Published: 08th May 2018 05:48 PM  |   Last Updated: 08th May 2018 07:07 PM   |  A+A-

The court disqualified Sharif under Article 62 and 63 of Pakistan's Constitution. The articles state that a member of Parliament should be 'truthful' and 'righteous'.

Former Prime Minister Nawaz Sharif (File | AFP)


ISLAMABAD: In further trouble to Nawaz Sharif, Pakistan's top anti-corruption body today ordered a probe against the embattled former prime minister and others for allegedly laundering USD 4.9 billion to India, media reports said.

The National Accountability Bureau (NAB) in a press release said its Chairman Justice (retd) Javed Iqbal took notice of reports making rounds on news channels claiming that Sharif allegedly laundered USD 4.9 billion to India, the Express Tribune reported.

According to the media report, this incident is mentioned in the World Bank's Migration and Remittance Book 2016, the release said.

However, details of the media report in question have not been mentioned in the brief statement issued in Urdu, Geo Tv reported.

The statement claims that the amount was laundered to the Indian finance ministry after which Indian foreign exchange reserves witnessed an increase and Pakistan suffered as a result.

Sharif is facing three corruption cases at the accountability court following the Supreme Court's verdict in the Panama Papers case.

A NAB inquiry is also under way against him for alleged illegal expansion of a road leading to his estate in Lahore's Jati Umra locality.

Once formulated, this will be the fifth case against the ousted premier by the NAB.

Earlier today, the accountability court sought more time from the top court to end the trial on references filed by the NAB against members of the Sharif family.

Accountability court judge Muhammad Bashir, who presides over the hearings, has written a letter to the top court requesting for a second extension in the trial.

Earlier in March, the Supreme Court had granted a two-month extension to the accountability court to wrap the proceedings.

However, as the two-month deadline expires, the case is nowhere near its end, with the Al-Azizia Steel Mills and Flagship Investments still untouched, the country's top anti-graft body is running out of time.

The Supreme Court of Pakistan had disqualified Sharif last year, forcing the three-time prime minister to resign.

Sharif has dismissed the corruption charges as politically motivated.

The political future of Sharif, who leads the country's most powerful political family and his party, has been hanging in the balance since then. If convicted, he can be jailed.

Stay up to date on all the latest World news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

  • virendra sason

    Whose Govt was at that time in India? Guess, Guess, Guess......... According to the State Bank of Pakistan, the actual Balance of Payments data showed that outflow of workers’ remittances from Pakistan to India was $116 thousands in FY16 and the inflows from India to Pakistan were $329 thousands. The value of Pakistan’s exports to India was $425 million, while imports from India amounted to $1,415 million during FY16.
    1 year ago reply

    Killing TWO BIRDS with one arrow. Assuming it as a money laundering where Nawaz Sharif is like blaming M a Jinnah for Pakistani defeat in East Pakistan(Bangladesh) in 1971. Assumption is that, Had there been no East Pakistan, there would have been no defeat. So, Jinnah was responsible for defeat of Pakistan Army. As a common Indian, I have been reading such AIR BALOONS of money rimmittences by Pakistanis to India. How they are blaming Nawaz Sharif even Allah may not be knowing. BUT Pakistan Army and its court stooges know all that does not exist.
    1 year ago reply
flipboard facebook twitter whatsapp