The government has released term of references (ToRs) of the inquiry involving political bigwigs including former prime minister Nawaz Sharif and former president Asif Ali Zardari.
As per the TORs, the commission will examine the process of selection and appointment of assets recovery firms – Trouvons LLC, Broadsheet LLC and International Asset Recovery Limited (‘IAR’) – and execution of agreements in the year 2000 to trace the offshore assets of Pakistanis stashed abroad. It will also probe into the circumstances, reasons and effect of cancellation of agreements with Broadsheet LLC and IAR in the year 2003.
“To identify and determine the reasons and effect of settlement and payments made on behalf of Pakistan to IAR and Broadsheet LLC in the year 2008 and whether the payments made were justified?” The commission will also identify the persons or officials responsible for making wrong payment of $1.5 million to the wrong person in the year 2008 who was not entitled to receive such payment.
“Whether the arbitration proceedings before the London Court of International Arbitration (LCIA) and subsequent appeal before the High Court of Justice in London were conducted diligently and efficiently?” read the ToRs issued by the government. The one-man commission will identify and fix responsibility of any person, body or authority etc, which was found guilty of gross negligence or misconduct or acted with mala fide motive or objective in respect of the above matters. According to TORs, in addition to the powers conferred on the commission, the commission shall also be empowered under Section 10(b), to constitute special teams consisting of officers from the executive authorities and experts in any particular field, for the purpose of assisting the commission in conducting the inquiry. “The special teams shall have such power as provided under the Act,” as per the ToRs.
