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London High Court orders Pakistan to pay 28.706 million dollars to Broadsheet LLC

1 min read

Anushka Mansharamani

The British court ordered Pakistan to make a payment of 28.706 million dollars to the British Firm, Broadsheet LLC in view of losing the long-running litigation case at the London High Court.

This payment was made by the Pakistan High Commission on behalf of the National Accountability Bureau (NAB).

The NAB hired the Broadsheet LLC in the first place to trace the alleged foreign assets of Pakistanis but, it failed to do so.

They were hired during Musharraf’s regime and were also asked to trace the assets of the former Prime Minister Nawaz Sharif and former President Asif Zardari.

This agreement made between NAB and Broadsheet LLC was terminated in 2003, and the firm’s claim against Pakistan was 600 million dollars.

On 17th December, the Financial Division of the London High Court issued a final order for the payment to be made to Broadsheet by 30th December costing taxpayers of Pakistan billions of rupees.

According to sources, Rs. 4.5 billion NAB amount was lying in the UBL, London Account. This accounted is operated in the name of Pakistan’s High Commission in the United Kingdom.