ISLAMABAD: The Accountability Court (AC) Islamabad on Tuesday acquitted former Prime Minister Shahid Khaqan Abbasi, Engro Corporation Chairman Mr Hussain Dawood, Director Mr Abdul Samad Dawood, and former CEO Mr Sheikh Imranul Haq in the award of the LNG contract to Engro Elengy Terminal Limited.
The decision comes after the National Accountability Bureau (NAB) opted to withdraw its reference against Abbasi and other as no evidence was found to prove any illegality, irregularity, or loss to the national exchequer.
Judge Nasir Javed Rana presided over the hearing, wherein Abbasi along with accompanied by his legal team, was present. The court announced its verdict on NAB’s plea seeking the withdrawal of the reference against the former prime minister and others.
Deputy Prosecutor Azhar Maqbool informed the court of the NAB’s decision to withdraw the reference against Abbasi, Engro Corporation Chairman Mr Hussain Dawood, Director Mr Abdul Samad Dawood, and former CEO Mr Sheikh Imranul Haq and others.
In 2019, NAB detained Abbasi for alleged corruption related to the award of a multi-billion rupee import contract for LNG in 2013 when he was the federal minister for petroleum and natural resources.
The allegation centred on the accused being awarded the LNG Terminal-1 contract through a non-transparent process. Public officials were accused of misusing their authority, resulting in wrongful gains and losses amounting to billions of rupees.
It is worth noting that Abbasi was granted bail in 2021 by an accountability court, which stated that there was no conflict over non-transparency in the LNG terminal case. The court emphasized the need for further investigation into whether the LNG terminal was developed in the public interest.
The detailed verdict on the bail highlighted the absence of evidence supporting the necessity of detaining Shahid Khaqan Abbasi and others, stating that NAB failed to prove its case regarding the corruption in the LNG terminal deal.
Engro Corporation welcomes court verdict
In a statement, Engro Corporation welcomes this much awaited decision of the Accountability Court, saying the Engro has always strived to act in a fair and transparent manner in all its business and commercial commitments. “Over the last six decades, the Company has built its reputation through a strong focus on effective corporate governance, ethics and integrity, and compliance with the laws of the land”, it said.
The LNG Terminal in question is an essential part of Pakistan’s energy infrastructure; it supplies 15% of Pakistan’s total gas requirement, which is a critical industrial and domestic input, to a growing country. Engro remains committed to the progress and well-being of Pakistan by striving to solve some of the country’s most pressing issues.
“During these testing times, the Company is grateful for the support it has received from our employees, shareholders, and partners who have believed in and worked with us,” the statement.
