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Asif Zardari moves SHC over Park Lane company inquiry

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KARACHI: Former president Asif Ali Zardari has moved the Sindh High Court (SHC) over the Park Lane Company issue.

In a petition in the high court the Co-chairman of Pakistan People’s Party (PPP) has denied his association with the Park Lane Construction Company.

In his plea, the former president stated: “I owned just 25 percent shares of the Park Lane Company, and in 2008, had resigned from its directorship before taking oath as president of Pakistan.”

“The Security Exchange Commission of Pakistan (SECP) was informed about the decision,” Zardari said in his petition.

The former president has sought the court to declare that he has no association with the Park Lane Company.

Park Lane inquiry

Earlier, in his written response to NAB, Zardari had maintained that the NAB has no jurisdiction pertaining to the Park Lane Estate case as according to the National Accountability Ordinance, the accountability watchdog is not liable to investigate matters of a private company.

The National Accountability Bureau (NAB) had in a statement in December said that an inquiry was initiated against Park Lane Estate Company (Pvt) Ltd and officers of Capital Development Authority on allegation of illegal transfer of state land.

According to a NAB press release, CDA illegally allotted 118 kanal and 14 marla land of Punjab Forest Department to M/s Park Lane Estate Company (Pvt) Ltd.

It said that former President Asif Ali Zardari and PPP Chairman Bilawal Bhutto Zardari are 50 percent shareholders of the company.

The Manager, Attorney Holder and Director of M/s Park Lane Estate Company (Pvt) Ltd were repeatedly summoned, but they willfully avoided joining the proceedings of NAB, the statement added.

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