LONDON – A foreign daily has revealed Pakistani tycoon Arif Naqvi’s allegedinvolvement in the PTI’s finances and how a significant portion of thesefinances in 2013 was of foreign origin.
The news published by the British daily Financial Times (FT) has come at atime when Pakisan’s ruling alliance of 11 parties is pushing forannouncement of the verdict reserved by the Election Commission of Pakistan(ECP) on the alleged foreign funding to the Pakistan Tehreek-e-Insaf (PTI)of ousted prime minister Imran Khan.
The FT report says, “Naqvi transferred three instalments directly to thePTI in 2013 adding up to a total of $2.12m.”
At the centre of the scandal is Wootton Cricket Ltd, a CaymanIslands-incorporated company owned by Naqvi, and the money from charityfundraisers, such as the “Wootton T20 Cup”, to bankroll PTI.
Naqvi is the founder of the Dubai-based Abraaj Group, which was one of thelargest private equity firms operating in emerging markets at the time whenthe PTI was campaigning for the 2013 elections. He hosted the crickettournament at his country estate in the Oxfordshire village of Wootton from2010 to 2012, according to the FT report.
The guests were asked to pay between £2,000 and £2,500 each to attend,according to the UK daily. Quoting, Naqvi, the newspaper said the moneywent to “philanthropic causes”.
The FT report reads, “Funds poured into Wootton Cricket from companies andindividuals, including at least £2m from a United Arab Emirates governmentminister who is also a member of the Abu Dhabi royal family.”
Political parties in Pakistan are not permitted to receive funding fromforeign nationals and companies, but Wootton Cricket account details andemails seen by FT for the period between February 28 and May 30, 2013,reveal that both companies and foreign nationals, as well as Pakistanis,sent millions of dollars to Wootton Cricket after which funds weretransferred to the PTI in Pakistan.
The ECP had been probing the party’s funding since 2014, when party founderAkbar S Babar alleged major irregularities in the party’s finances,including in funding from outside Pakistan.
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ECP has now concluded the case after seven years of trial. The date theverdict will be announced is yet to be revealed.
Imran Khan visited Wootton Place in 2012. To questions by FT, the formercricketer wrote back saying he had gone to “a fundraising event which wasattended by many PTI supporters”. He confirmed that businessman Tariq Shafidonated to the PTI, but said “it is for Tariq Shafi to answer as to fromwhere he received this money”.
Khan said neither he nor his party was aware of Abraaj providing $1.3million through Wootton Cricket. He also said he was “not aware” of the PTIreceiving any funds that originated from UAE.
“Arif Naqvi has given a statement which was filed before the ElectionCommission also, not denied by anyone, that the money came from donationsduring a cricket match and the money as collected by him was sent throughhis company Wootton Cricket,” Khan wrote.
Khan said he was waiting for the ECP’s verdict and that it will beinappropriate to “prejudge PTI”.
In its January report, the ECP said Wootton Cricket had transferred $2.12mto the PTI but at the time did not reveal the original source of the money.
Naqvi has acknowledged his ownership of Wootton Cricket and denied anywrongdoing. He told the ECP: “I have not collected any fund from any personof non-Pakistani origin, company [public or private] or any otherprohibited source.”