The alleged funding came from 21 major companies
The investigation teams traced the illegal funding of 50 crores received by Tehreek-e-Insaf.
There has been a major development in the PTI banned funding case, and investigation teams have unearthed Rs 50 crore worth of illegal funding to the party.
Sources say that the alleged funding of Rs 50 crore was given to PTI by 21 big companies, while under the law, private companies could not fund PTI.
Sources said that the FIA has recommended action against these companies, including three companies registered abroad.
Sources further say that FIA has also written a letter to SECP to take action against 11 Pakistani companies.
When did the foreign funding case happen?
On August 2, the Election Commission of Pakistan announced the decision of the foreign funding case against Pakistan Tehreek-e-Insaaf, which has been pending for more than 7 years and 8 months.
Akbar S. Babar, the founding leader of Pakistan Tehreek-e-Insaaf and holding several important party positions, filed a petition against his own party in the Election Commission in November 2014.
Position in the application
Akbar S. Babar, in a petition filed before the Election Commission of Pakistan, took a stand that Tehreek-e-Insaf received huge sums of money from foreign countries, but this money came from illegal sources. No one knows its original source.
Pakistan Tehreek-e-Insaf approached every relevant platform to stop the hearing. At least 8 lawyers were changed during the hearing.
In August 2017, the Election Commission ordered the State Bank of Pakistan to submit account details.
18 out of 26 accounts are anonymous
Details of 26 commercial banks of Pakistan Tehreek-e-Insaaf were presented before the Election Commission, out of which only 8 were disclosed.
18 of the 26 accounts were benami in which funds from abroad continued to be deposited but no details were provided as to where the funding was spent.
The Election Commission established a scrutiny committee for investigation in March 2018, which held 96 different meetings and submitted its report to the Election Commission in August 2020, but the Election Commission rejected it, after which it submitted the final report in January this year.
What was in the report?
According to the contents of the final report of the Scrutiny Committee, 65 bank accounts of PTI came to light, out of which only 12 were informed to the commission and 53 accounts were allegedly hidden.
The report said that PTI hid the details of 32 crore received during 5 years.
Hearing completed on June 21, 2022
After more or less 7 years and 7 months of hearings, the Election Commission reserved its decision on the foreign funding case against Tehreek-e-Insaaf.
Decision of Islamabad High Court
In April 2022, the Islamabad High Court ordered the decision of the foreign funding case within 30 days.
Tehreek-e-Insaf filed a review appeal against this decision, the Supreme Court annulled the decision and declared that there is no room for doubt on the Election Commission that all parties will be treated the same. Will deal with it in time.
The demand of the opposition parties of PTI
The Muslim League (N), People’s Party and JUI (F) have repeatedly demanded the Election Commission to pronounce the decision on the foreign funding case as soon as possible.
Financial Times reports
On July 29, the British newspaper Financial Times published a report which stated that Arif Naqvi, the founder of Abraaj Group, collected money from wealthy people for charitable purposes in the UK and deposited it in the bank account of Pakistan Tehreek-e-Insaaf.
Apart from this, it was also revealed that out of the 2 million dollars given by a UAE prince, 1.2 million dollars were transferred to Pakistan in 2 installments.
After the completion of the hearing of the case, the parties involved in the ruling alliance repeatedly demanded the Election Commission to withdraw its decision, but after the Financial Times report came to light, their demands intensified.