Abbasi decries claim Sharif laundered $5b

World Bank denies allegations its report said ex-prime minister sent funds to India

Prime Minister Shahid Khaqan Abbasi yesterday strongly criticised the reported investigation by the National Accountability Bureau (NAB) into alleged money laundering of $4.9 billion (Dh17.99 billion) from Pakistan to India.

The premier has asked the House to constitute a body to ascertain, from the NAB chairman, the authenticity of the reports about the probe.

On Tuesday the chairman of the NAB, Retd. Justice Javed Iqbal, ordered a complaint verification against former Prime Minister Nawaz Sharif and others, for allegedly laundering $4.9 billion from Pakistan to India a media report said, quoting a World Bank document.

The NAB said it launched the probe after a September 2016 World Bank migration and remittance report said “foreign exchange reserves of India had increased by $4.9 billion” due to huge cash inflows attributed to “money laundering, inflicting losses to Pakistan’s national kitty.”

However, the World Bank issued a statement on Tuesday saying the media reports claiming that ousted premier Sharif had laundered $4.9 billion to India were “incorrect.”

Dismissing the reports, the Washington-based multilateral agency claimed that World Bank’s The Remittances and Migration Report of 2016 “does not include any mention of money laundering nor does it name any individuals”, it said.

The announcement of an NAB investigation against Nawaz Sharif was strongly criticised by PM Shahid Khaqan Abbasi yesterday.

‘Summon chairman’

Addressing the National Assembly, the premier asked the House to constitute a committee to “summon the NAB chairman” to clear his position as “allegations of a very serious nature” had been levelled against the former prime minister.

The premier also accused the institution of overreach.

However, a leader of the opposition Pakistan Tehreeke-Insaf party, Asad Umar, opposed the suggestion of constituting a committee on the issue, saying interfering in the affairs of NAB would be “tantamount to the murder of justice” in the country.

Meanwhile, the Supreme Court has extended the deadline for concluding corruption cases against Sharif and his family until June 9.

The Supreme Court has extended the deadline for concluding corruption cases against Sharif.