NAB fined Rs 10 billion in International Arbitration?
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ISLAMABAD - Minister for Law and Justice Dr Muhammad Farogh Naseem in a written reply during Question Hour told National Assembly Monday that National Accountability Bureau (NAB) could not divulge details of its arbitration in the case of Broadsheet LLC pending in Chartered Institute of Arbitration, London and High Court of Justice in England due to confidentiality agreement.
He said there was no lawsuit against National Accountability Bureau in International Court of Arbitration. Farogh was responding to a question of MNA Choudhary Faqir Hussain who sought details of lawsuit filed against NAB in International Court of Arbitration. He told the house that according to his information NAB had been fined Rs12 to 14 billion in the said arbitration and also NAB paid fees of Rs2.5 billion to law firms contesting the case.
He also wanted details of the grounds for each lawsuit filed in the courts against the NAB with expenditure incurred.
Parliamentary Secretary Malaika Bukhari informed the house that as the matter was subjudice and due to confidentiality agreement signed by the government of Pakistan the matter could not be discussed in the National Assembly.
In the written reply, the Ministry of Law told that the subject arbitration was subjudice before the Tribunal and the High Court of Justice in England and it was therefore under judicial consideration and prohibited from public discussion elsewhere.
Further the details asked by the member do not fall under section 78 of Rules of Procedures and Conduct of Business in the National Assembly.
The Ministry of Law told the house that the subject arbitration was still going on and presently an application had been filed in the Tribunal under section 57(3) of the United Kingdom Arbitration Act, 1996 and in the High Court of Justice in England under the same act.
“Thereby meaning that the matter is still subjudice and the grounds and details of expenditure cannot be provided. Nonetheless apart from that it is once again stated that the Government of Pakistan and NAB had signed a confidentiality agreement and till the matter is resolved, no further information can be divulged.”
The ministry further said NAB was in the process of conducting inquiries and any public disclosure shall adversely affect the interest of public at this stage. No amount has been paid by NAB to anyone as damages as the final decision of the Tribunal and High Court of Justice in England was still awaited, the ministry said in the written answer.
