Imran fails to submit ‘complete money trail’ in SC

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Staff Reporter

Islamabad

Pakistan Tehreek-i-Insaaf Chairman Imran Khan on Saturday failed to provide a comprehensive history of his finances to the Supreme Court, which is hearing a petition seeking Khan’s disqualification over the non-disclosure of assets, ownership of offshore companies and receiving foreign funding for his party.
Khan, in a written reply to the SC, admitted that he had not been able to procure all documents required to substantiate how he came to own assets held in London. Naeem Bukhari, Khan’s counsel, submitted the PTI chief’s reply in court.
He told the court that English counties he had played for did not maintain records older than 20 years so he could furnish those salary details.
However, by 1980 he was the highest paid overseas player in the UK, read a statement he submitted to the court.
Khan was responding to the Supreme Court’s queries over a petition seeking his disqualification alleging non-disclosure of assets, ownership of offshore companies and receipt of foreign funds for the party.
The PTI chief informed the apex court that he had started earning money abroad when he started playing cricked during his days as a student at University of Oxford, England.
Then he was selected to play cricket for Pakistan and also for Worcestershire from 1971. He played for Sussex County from 1977 to 1988. All the payments Imran received had income tax deducted from them at source.
The PTI chief further informed the court that he had to spend his days outside Pakistan to fulfil his commitment to Sussex Country Cricket and to participate in other international cricketing events between 1977 and 1988. As he was a “non-resident, the Pakistani income tax law did not apply to him”.
He also played for the Kerry Packer series, a cricket competition between 1977 and 1979, for $25,000 per year. Besides his earning, there were also the airfare, boarding, lodging costs and prize money.
Khan submitted that he played in Australia for New South Wales between 1984 and 1985, earning Australian Dollar 50,000.
In 1984, he mortgaged a one-bedroom apartment in London through Royal Trust in the name of Niazi Services Limited.
The apartment was purchased for £117,500 on mortgage on 20 years and initial down payment of £61,000 to Royal Trust. He made the payment from his savings and earnings he received while playing for Sussex Country Cricket and the Kerry Packer series.
He managed to pay off the mortgage well before its due date as he had a benefit year in 1987 when he earned £190,000 and his savings.
“The money I made abroad was through legal means and there was no money laundering involved,” Khan said in his written reply.
On July 13, the SC directed the PTI chairman to submit financial details for his London flat by July 25.
The SC’s registrar office, on July 21, had also sent Imran Khan a notice for not submitting documents that the court had called for.
Chief Justice Mian Saqib Nisar had earlier commented on the matter, saying: “People who call others thieves should be able to provide their own financial details in court.”
According to the documents submitted to the Supreme Court, Imran managed to pay off the mortgage well before its due date as he had a benefit year in 1987 when he earned GBP 190,000 and his savings.
Meanwhile, Pakistan Tehreek-e-Insaf leader Fawad Chaudhry said on Saturday that the money trail for Imran Khan’s Bani Gala residence was submitted to the court after gathering details from London, adding that the party has now allayed the concerns of rival Pakistan Muslim League-N.
Addressing a press conference, he, making a comparison between Prime Minister’s children and the PTI chief, Chaudhry said that Nawaz’s son has a Rs6,000 million flat while Imran owned a five million rupees flat.
“Whether it’s Nawaz Sharif, Fazl-ur Rehman or Zardari they need to submit a money trail similar to that of Imran,” said the PTI leader.

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