ECC to Approve Grant for NAB to Clear Legal Fee of Foreign Firms
According to well-placed sources, the National Accountability Bureau has asked ECC to approve a Technical Supplementary Grant (TSG) of Rs433 million for payment of accrued liabilities on account of legal fee in respect of foreign lawyer’s/law firm
ISLAMABAD: Economic Coordination Committee (ECC) of the Cabinet scheduled to meet on Wednesday is likely to approve a Technical Supplementary Grant of Rs433 million for clearance of accrued liabilities on account of legal fee in respect of foreign lawyer’s/law firm.
According to well-placed sources, the National Accountability Bureau has asked ECC to approve a Technical Supplementary Grant (TSG) of Rs433 million for payment of accrued liabilities on account of legal fee in respect of foreign lawyer’s/law firm. And, the ECC is expected to grant approval in this regard.
Broadsheet LLC pursued a case of arbitration against the Government of Pakistan (GoP) through the NAB in the Chartered Institute of Arbitration, London. The arbitrator issued Part Final Award (Quantum) and Part Final Award (Costs) for $27.2 million, with interest enforced after 60 days from the respective orders of the High Court of Justice, London.
As per details, a liability of US $ 2.3 million is outstanding in addition to the liabilities on account of fee of foreign lawyers/law firms while due to paucity of funds NAB is not in a position to meet its recurring expenditures within the authorized budget grant.
In view of the financial constraints against mandatory expenditures relating to the Part Final Award (Quantum) as well as (Costs) along with interest a budgetary short fall of Rs 433.091 million has been envisioned for allocation of additional financial resources. And, the anti-graft body (NAB) has approached the ECC to help cover the Rs433 million shortfall.
Sources also informed that Finance Division has provided funds of Rs433million out of its own resources ostensibly to enable the NAB to initiate a case for allocation of a TSG during current financial year 2020-21 and advised NAB to move a summary through Law and Justice Division for ECC for its approval. And, the office of Attorney General of Pakistan has already clarified that the NAB may process their summaries directly without routing through the Law and Justice division.
Broadsheet LLC, based in the Isle of Man, was hired by NAB during Musharraf’s regime to trace the hidden assets of 200 Pakistanis including former premier Nawaz Sharif and ex-president Asif Ali Zardari in foreign countries. The NAB terminated its agreement with Broadsheet in 2003.
In December 2018, the London Court of International Arbitration (LCIA) awarded penalty of millions of dollars to the anti-corruption watchdog in the infamous Broadsheet LLC case.
Later, the London High Court also rejected national graft-buster’s appeal against the award.
