Broadsheet- the ultimate cost of corruption

Mahroo Arshad

Since the Broadsheet scandal surfaced a few weeks ago, it has been wrongly perceived from a narrow skewed lens. Broadsheet CEO Kaveh Moussavi capitalised on the opportunity provided by the lack of comprehension to command the media airwaves and set a narrative that presented everyone involved from the Pakistani side in a bad light. The government did the right thing by making the arbitration award documents public.  However, this is just the beginning; the whole broadsheet episode calls for accountability and for fixing responsibility of this fiasco.

Historically, the Broadsheet dispute is tied up with Pakistani politics and its battle with corruption. The National Accountability Bureau, formed in 1999, hired Broadsheet in 2000 to trace and recover assets allegedly stolen by influential figures, including former Prime Minister Nawaz Sharif. In late 1999s, NAB began negotiations with Trouvons (a Colorado-based company) for recovery of assets and plundered money outside of Pakistan. 

At that time, Jimmy James represented and was part-owner of Trouvons, whose business included the kind of investigations and recovery assets that NAB would require to be carried out. He had some previous business experience in Pakistan. His business associates included a Colorado lawyer Ronald Rudman and an English barrister William Pepper. James represented to NAB that Trouvons had the necessary expertise and experience to undertake the work of investigation and recovery of assets on behalf of NAB internationally, outside Pakistan.

Contrary, NAB ended up signing an agreement with Broadsheet whose ultimate beneficiary was also Jimmy James but it was a shell company, registered in the Isle of Man (IoM) just a month before signing of the agreement.  It is interesting to note that the agreement was signed on the basis of qualification of Trouvons as it is near to impossible that Broadsheet, having been formed a month earlier, could have any kind of the experience which was expected of it.  The point to note is that NAB totally failed to take into account why Jimmy James (also main beneficiary of Trouvons) established a new company just one month before the agreement with NAB.

Had it been attentive, the agreement with Broadsheet may have not been signed. The suggested and unchallenged reason for the change from Trouvons to Broadsheet as a contracting party under the ARA (Asset Recovery Agreement) was that Ronald Rudman had been suspended from his membership of the Colorado Bar on grounds of dishonesty. James knew that if NAB became aware of it, there would be no further negotiation. Therefore, he caused Broadsheet to be incorporated so that it rather than Trouvons could enter into the proposed agreement with NAB, as it did on 20th June 2000.

Moreover, a parallel and separate agreement was signed between NAB and International Assets Recovery firm (IAR), represented by William Pepper on 15 July 2000.  The agreement signed between Broadsheet was intended is to be limited to investigations and recovery of assets in USA, Europe and Asia, and IAR was to cover other parts of the world.

With the NRO underway between Gen Pervez Musharraf and the Sharif family, NAB terminated the agreement unilaterally with Broadsheet in October 2003 without going through the proper termination procedure. NAB had terminated the ARA accusing Broadsheet of misrepresentations made during pre-contractual negotiations and commitment of repudiatory breaches. To which, Broadsheet contended that any shortfall in its performance of the ARA was caused by NAB’s breaches of its own obligations and it claimed damages in respect of those.  To the misrepresentation plea taken by NAB, the arbitrator noted that the alleged representations were made on behalf of Trouvons, not Broadsheet.

Another key issue in this whole saga was the correct interpretation of clause 4 of the ARA, which gave Broadsheet the right to claim compensation. The scope of the ARA was intended to be limited to investigations and recovery of assets in the USA, Europe and Asia, not worldwide.  But that was achieved not by express provision, but by limiting its scope to specific registered persons or entities or targets. Its scope was defined as reference to the target list and there were no geographical limits.  The arbitrator noted that neither party has raised the question of possible rectification of the written agreement (a remedy that might be available under English law if the document mistakenly failed to record what was in fact agreed).  Therefore, the advantage of this misrepresentation went in favour of Broadsheet’s claim.

In April 2007, Broadsheet was dissolved by the court. Unaware of the fact, NAB entered into settlement agreements with International Assets Recovery firm (IAR) and Broadsheet in 2008.  Under these agreements, NAB undertook to pay $1.5 million to Broadsheet and $2.25 million to IAR.  James signed the agreement as chairman of Broadsheet LLC Gibraltar (a misnomer) , as a manager of Steeplechase and also on his own behalf describing himself as shareholder and beneficiary of Broadsheet LLC, without giving any regard to the fact that the Broadsheet (Isle of Man) had already been dissolved in April 2007. During this period, NAB totally failed to find out that Broadsheet IoM was under liquidation and Jimmy James was not entitled to sign any agreement on behalf of Broadsheet IoM.  The fact that the settlement worth $1.5 million was paid in two instalments to Broadsheet Colorado instead of Broadsheet IoM displays the height of negligence.

At the time, when the poor taxpayers of Pakistan were paying the price of elite corruption and  the incompetence of its institutions, Moussavi was gearing up to milk this sad state of affairs. During his meeting with Ahmer Bilal Soofi in April 2007, Moussavi learned that the latter was meeting Jimmy James to settle the Broadsheet claims in his personal capacity without involving Moussavi, who thought himself to be 50 percent claimant of the settlement proceeds.  The backdrop to this 50 percent claim was his meeting with Jimmy James back in the early 2000s, where he offered James that in return for funding Broadsheet’s costs of bringing a claim against NAB , they would share the proceeds 50/50 .  Knowing that Jimmy James’ settlement with NAB had no legal standing, as Broadsheet was under liquidation, he created his financial stakes in Broadsheet by contacting an unpaid creditor of Broadsheet, Oakfield Corporate Services, whose claim was for a modest sum of £4000 pounds.  IAR, funded by Moussavi, acquired the debt from Oakfield on terms which included paying the balance from the proceeds of any recovery from NAB. In a further transaction, IAR acquired the beneficial interest in Broadsheet from two Panamanian companies that were its original members and moved court to declare the liquidation null and void. From November 2009 onwards, Broadsheet has been controlled by Moussavi.

Having Moussavi in control, Broadsheet went into arbitration against NAB. The hearing on the Liability Award was held in August 2016 by the London Court of International Arbitration. Owing to lack of interest shown by the then government, a liability award was issued in favour of Broadsheet. Subsequently the Quantum Award hearing took place in July 2018 and the Court awarded Broadsheet $21.59 million plus interest as damages for the breach and repudiation of the agreement.  The appeal against the Quantum award was dismissed in July 2019. The incumbent government tried its level best to use all available legal remedies to salvage the situation, until the UK High Court seized the account of the Pakistan High Commission in London. Left with no choice and to save the national honour and dignity, the government finally approved $28.7 million payments to Broadsheet.

In a nutshell, the Pakistani taxpayer has paid the price of elites’ corruption and malafide intention on the part of negligent individuals. Now, the best the government can do is to uphold its manifesto of accountability and fix responsibility. The key areas of inquiry may revolve around the process of selection and appointment of Broadsheet and IAR, the officials responsible for drafting a flawed contract (article 4 of ARA), reasons and effect of cancellation of agreements with Broadsheet and IAR in 2003, justification of settlements agreements, wrong payment and interest of successive governments in arbitration proceedings.  The moral of the story is simple– there needs to be no compromise on corruption, otherwise Pakistani nation will keep paying for elites’ corruption and tyranny, as in the case of Broadsheet.

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COURTESY Pakistan Today

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Sakardu, Land of Fairies and Djinns

Munaza Kazmi

Welcome to the new episode of Discovering Pakistan. Today I will be taking you to a magical land of gigantic mountains that surely remind you of your grandma’s bedtime fairy tales.

Skardu:

In the north of Pakistan, Skardu the capital of Gilgit Baltistan, is an epitome of beauty, magnificence, serenity and wilderness. It is path to the some of the world’s glorious and dangerous mountains including K2, K3 and Gasherbrum and home of Himalaya’s beautiful creatures.

After landing on Skardu Airport; a beautiful flowery piece of land surrounded by huge snowcapped mountains, stock up on dried apricots, walnuts and almonds for the long journey by road. I would advise you to request the front seat of the car for the best photo opportunities – you won’t regret it as you enter the mountain ranges in the North!

Shigar Fort:

A two hours’ drive from Skardu and you will arrive at Serena Shigar Fort, known as Fong-Khar which in the local language means the “Palace on the Rock”, it is one of Northern Pakistan’s most beautiful hotels. There you almost feel as if you have stepped in to a movie set because it is so picturesque. The settlement itself is also great to walk around during the day amidst the hustle and bustle or you can take a bicycle for a more relaxed afternoon to stretch the legs after your long plane and bus journey. 

Deosai:

For reaching Deosai, you have to get up early in the morning, since a whole day would not be enough to witness the mystic. Deosai National Park, home to the Himalayan Brown Bear, Himalayan Ibex, Tibetan wolf, Golden marmots, Tibetan red fox and a land of lovely wild flowers. Also, it is called as land of fairies and djinns by the natives…maybe you would be lucky to get along with one.

Satpara Lake:

Next day, fill yourself with a healthy breakfast and get ready for another full day adventure, starting from Satpara Lake, there you can relax by watching the epic landscape with a cup of tea from the nearby jungle café and boat ride.

Shingrila Lake:

Next treat your eyes with a spectacular heart shaped Lake next to a Japanese style hotel; a beautiful place to dine for lunch.

Sarfaranga Desert:

 

In the meanwhile, you can see the world’s highest desert known as Sarfaranga Desert or the Cold Desert Sakrdu that is located at the height of 7,500 feet. One can have a breathtaking view of the sunset at the top of sand dunes with chilly winds.

Mantoka Waterfall:

Mantoka waterfall is approx 180 feet high from ground and located almost 80 kilometers away from downtown Skardu. This is the place from where Indus river enters into Pakistan. Manthoka Waterfall is one of the well-known tourist attractions of Kharmang valley. Ending the day with a warm cup of tea with waterfall in the background makes the day more memorable.

Khaplu Palace:

Next day there comes a long journey awaiting to the scenic Khaplu valley. For accommodation Serena Hotels are as luxurious as it gets, and you will find them all over the country my favorite was Serena Khaplu Palace in Gilgit-Baltistan, a Tibetan Palace, restored by Agha Khan Foundation.

If you can time your luck, there may be a local polo match taking place nearby. Ask your guide for updated information – this is a popular sport in the Gilgit-Baltistan region and known popular as “Game of the Kings”.

If you are feeling more active and adventurous, there is a great panoramic view to be had at Thoqsikhar, a two-hour hike from the palace. Ask the hotel to pack a picnic lunch or start your journey early in the morning with the sun and return to the palace for a relaxed lunch in the gardens.

Next day, if you have time the day you are checking out, consider stopping at Bara, a small town just 20 minutes from Khaplu. Here you will find a wool spinning and weave center that trains and supports local women. This is also a great place to purchase a local Baltistanitopi.

MuchiluBowari:

Never forget a to drive to MuchiluBowari Rocks, they are as mighty as you can imagine, the spellbinding, magnificent, by seeing them I wondered, if these rocks are that gigantic and big, what about the Creator of them.

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Munaza Kazmi has recently done Master of Philosophy from Bahria University Islamabad. Her debut novel is Unrequited Love. 

She’s an author, columnist writing in different newspapers and a researcher having seven publications till yet, she’s been writing since 2016.

You can connect to Kazmi at twitter @munaza_kazmi or on research gate as munaza kazmi.

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Pakistan Fighting Third Wave of Covid-19

Munaza Kazmi

Earlier on 24 February, the National Command and Operation Centre have relaxed most of the Covid-19 related restrictions, the focus was on financial concerns rather than public health. Commercial activities, schools, offices and other areas have been allowed to function in full strength. Moreover, the SOP’s were also been ignored so far, there comes notices and boards everywhere saying, “No mask No entry”, however ironically the owner of that property himself not wearing mask or following SOP’s. Also, there are Sanitization gates installed in every nook and corner, however for showcasing only, even the concept of social distancing and contact less shopping or check inns have been vanished or I should better say, never been enforced.

Besides if we talk about the vaccination, no one at the helm had bothered to handle the issue seriously. The absurdity is, for the vaccination campaign TV Actors have been employed, rather than recognized doctors. The question is, “How a person can get medical advice from an actor”?

Moreover, am of the suggestion that, advertisements related to vaccination should be shown during peak hours. Currently, we see bombardment of advertisements during PSL matches but we don’t see a single ad on vaccination during matches. Also, data of people and the health workers, who have been vaccinated so far, is not being shared. Due to this the populace have no idea about the results and aftereffects.

Reasoning the relaxation and avoidance of rules, once again COVID-19 infections and hospitalizations in Pakistan are increasing. The decline seen over the past 2 months is clearly reversing as positivity has gone up from 3.31% to 4.16% within a week. We must remember that the pandemic is not over.

Furthermore, Pakistan's tally of coronavirus cases crossed 600,000 as infections climbed again. According to data from the country's Health Ministry, 1,353 new cases were registered in the last 24 hours, taking the caseload to 635K, with 61 more fatalities, the death toll also rose to 13,717.

Currently the third wave of Covid-19 is gripping Pakistan’s largest province, Punjab and the northern parts of the country. Seeing the situation, Pakistan health and administration authorities have imposed partial lockdown in affected areas, of which much resistance have been acknowledge by the businesses and ignorance by the public. Still people can be seen without mask, shaking hands, and violating the norm of social distancing also the standard SOP’s.

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Karighar, Empowering Communities: A CSR Project of Serena Hotels

Munaza Kazmi

Pakistan, one of the most naturally beautiful country on the planet, the only requisite is that, its tourism and hospitality industry needs to showcase its hidden diversity and rich heritage and colorfully attractive cultural. 

Good news is that, the Tourism in places like the scenic northern areas and the historical region of Punjab and Sindh has amplified in the past few years, due to the fact, many big hotel chains of the world had shown interest in building projects countrywide, reasoning thecareful steps taken by the contemporary government of Prime Minister.

Serena Hotels, that enjoys the luxury of being Pakistan’s big name in the hospitality sector has alsobecome anexemplary in promoting activities that fall within the framework ofCorporate Social Responsibility (CSR), a concept under which companies integrate social and environmental concerns in their business operations and interaction with their stakeholders. Serena Hotel has a fair history of empowering communities by consistently implementing a comprehensive program to strengthen efforts of the Government in promoting causes of the country and addressing central concerns of the communities.

Among other CSR projects, Serena Hotels’ “Karighar” a vocational center that established back in the year 2016, has been making a significant contribution to provide entrepreneurship training to various segments of communities mainly women in Gilgit-Baltistan region of Pakistan,for a sustainable growth and quality of life. Karighar provides skills trainings to locals, thereby empowering them to supplement the household income.

Initially Karighar was set up to facilitate and develop a value chain where women are the primary actors, but later a new initiative namely “Honey Bee-Farming” took place under the banner of Karighar, that involve both men and women.Since Gilgit Baltistan is naturally blessed with an abundance of flora and honey bee farming has traditionally been a primary source of income for many inhabitants in the area. The Karighar Honey Bee Farming project aims to empower people involved in honey bee farming by providing them with professional trainings and subsequently purchasing their production at a premium price with guaranteed purchase, hence promoting sustainable livelihood in these remote regions, thereby meeting some of the unique challenges of the region.

Gilgit-Baltistan widely beautiful, land of fairies, djinn and gigantic marvelous mountains and beautiful landscapes however remote as well, the region is somehow a lonely planet, reasoning the topographical, environmental and strategic reasons. Located in north of the Khyber Pakhtunkhwa province, Gilgit-Baltistan borders Afghanistan, Azad Jammu & Kashmir, Indian Occupied Kashmir and China.Gilgit-Baltistan is the meeting point of three high altitude mountain ranges namely the Himalayas, Karakoram and Hindu Kush. The topography and climate, therefore, are not conducive to economic activity, particularly during the winter season, which is marked by extreme weather conditions. Moreover, the area doesn’t have much facilities, even there are a few areas where one can have the ease of transport and communication.  

Here Serena Hotels operated by Tourism Promotion Services (TPS) of Agha Khan Development Network (AKDN) have taken the pioneer step, in building the luxury hotels, that not only contributed in heightening the tourism of Pakistan in international market but also provided employment along with education and trainings to the communities, that resulted in a drastic increase in literacy rate,  financial uplift of communities, empowering of locals, along with elimination of corruptions. On my visit to the region, I was surprised and equally happy to find out that in Gilgit-Baltistan region the Corruption rate is zero percentage, moreover I even failed to witness any beggar here and there, since the communities there are self-sufficient and empowered.

Karighar the CSR project of Serena Hotel aims to empower communities by providing them with education and training related to the bee-farming, besides stitching and embroidery, also supporting in setting up their own small business houses, which is the success story for the institution.Furthermore, Serena Hotel has attempted to hire the most deserving of the skilled trainees and they include a widow and a girl living with disability.

Besides, Karighar goes beyond simply providing skills trainings, as the center creates distribution channels and develops supplementary sources of income through the sales of the unique, handmade products and raw honey. 

Serena Hotels provides the women with raw material and purchases the finished products to use in Serena Hotel’s properties, showcasing them for the much wider audience of guests. Through cottage industry production, local women are empowered to reach national and international market. Thus, in addition to supporting the community Serena Hotels is able to provide its own properties with unique products, such as linens, corporate gifts, carpets, bathroom amenities and others, that are not only tailor-made but handmadealso, depicting the rich cultural heritage of Pakistan and showcasing the uniqueness of the crafts of Gilgit-Baltistan. By now, Karighar is making the uniforms, bedding and Food & Beverages Linen for Serena Hotels properties all across Pakistan.

Hence, it can be contemplated that, by such CSR initiatives, highlighting “Krighar” Serena Hotel is proving to be helpful inintroducingthe financial independence and empowering of communities. And on the broader end Serena Hotel is helping in strengthening the economy of Pakistan. 

I believe, the CSR activities by Serena Hotels are worthemulating and there are reasons to believe that economic and social landscape of Pakistan can change for the better if other companies too initiate their corporate social responsibility with the same zeal as is being done by Serena Hotels.

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Munaza Kazmi has recently done Master of Philosophy from Bahria University Islamabad. Her debut novel is Unrequited Love. 

She’s an author, columnist writing in different newspapers and a researcher having seven publications till yet, she’s been writing since 2016.

You can connect to Kazmi at twitter @munaza_kazmi or on research gate as munaza kazmi.

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Kohinoor

Munaza Kazmi

Kohinoor, one of the most coveted and valuable diamonds of all times. This dazzlingly beautiful rare jewel has been in the eye of the storm ever since it left the hands of its original owners, the Kakatiyas of Warangal. Never bought or sold, the fabled diamond changed many hands as it traveled through several dynasties.

Kohinoor found reference in Sanskrit script some 5000 years ago. According to Hindu belief, Kohinoor was Surya’s gift, “Syamantaka” with the saying, “This gemstone will bring you great fortune. Where there is need, it will produce eight times its weight in gold per day. As long as you properly honor this gift, it will bring you wealth and good health. No tragedy shall befall you.” 

To the known history, its origins are somehow ambiguous, however it is generally agreed that the fascinating diamond is mined from Golconda mines, South India around 625 AD under King Pulakesi ll and later owned by Kakatiya dynasty, who fixed Kohinoor in the eye of idol in Vijayanagara temple (Bhagrakali temple).

Later, we found it’s marks in Amir Khusrau’s (1253-1324)“Khazainul Futu”, in which Sultan Alauddin Khalji (1229-1316), took away the Kohinoor from the temple.

Going further it can be said that whichever king had it in its possession, met an early death, in fact, the stone is a harbinger of misfortune and bloodshed although precious. Seeing the Khilji’s account who took away the prized Kohinoor to Delhi as loot, no doubt with much bloodshed, Lodhi’s defeat at Panipat at the hands of Zahir-ud-din Babur in 1526, who described Kohinoor in Baburnama as ‘Worth the value of one day’s food for all the people in the world”. Following Babur’s death in 1530 only 4 years after his arrival in India.

Humayun’s forced exile in Persiain 1540, less than 10 years on throne. As said, “When worn by a clean man, it produces gold, but to an unclean person, it indubitably proves fatal”. Hence it brought the good fortune to Humayun, as it helped him regain the lost kingdom “Hindustan” with the help of Shah Tahmasp, who lost it later in the sands of Persia, while sending as a present to Nizam Shah.

Furthermore, the pages of history read the prosperity in the region of Akbar, as he ruled over 5 times the population commanded by the only rivals, the Ottomans- some 100 million subjects, controlling almost of all of India, Pakistan and Bangladesh, as well as eastern Afghanistan. The capitals were the megacities, they were second to none either in Asia or in Europe with regards to size, population, knowledge or wealth. In fact, they were the living embodiment of wealth and power. Later we can see as explained in Tuzuk-i-Jahangiri, the rule of Jahangir (1569-1627) from the most rich throne; the well maintained and prosperous. The references reflect that it was the period in which Kohinoor was missing hence the curse as it is said to be was overtaken.

The diamond return to the Mughal Empire when Prince Khurram, the future Shah Jahan was on the throne, who commissioned the infamous Taj Mahal and the Peacock Throneon which the Kohinoor was shining in its full glory. Earlier his region came to a dramatic premature end in 1657, when Shah Jahan suffered a stroke and his son Aurangzeb staged a skillful coup d’état and imprisoned his father in the Red Fort of Agra.

The act of arresting one’s own father seems really a forbidding impression, but in monarchy these things comes so often, however the reason still couldn’t support rightness. Though Aurangzeb possess natural gifts of high a high order, but his religious bigotry made him ill-suited to rule the mixed population of empire. All these ended in sprawling Mughal political structure. The Kohinoor was in his possession, so if it’s the curse of his inability to rule.

However, in 1739, the Mughal Empire was still the wealthiest state in Asia, and Dehli was the most prosperous and magnificent city between Ottoman Istanbul and Imperial Edo. The region of India, Pakistan, Bangladesh and Afghanistan was ruled from the Peacock Throne – with the Kohinoor glittering from of the top. However, its curse picked up when Nadir Shah plundered the city and slaughtered some 30,000 citizens, the worst day in Mughal history, and later on, took the Kohinoor from the Emperor Muhammad Shah to Persia along with as much as he could, on 700 elephants, 4,000 camels and 12,000 horses to meet a horrible death in his own bed. 

Here we can see first the captured and looting of the city, which is only because of the bad governance, since the historians report the, Dehli had massive force, 2 miles wide and 15 miles long, a sea of people, enough to conquer the world. Secondly the humiliating death of Nadir Shah, there I believe the gem had played its role, since he was filled with sordid avarice and responsible for Dehli massacre.

Afterwards, for possessing the Kohinoor there happened great deal of violence, and it passed to Ahmad Khan Abdali, he rarely lost a battle, but eventually died with a miserable fate. However, he himself acted in the much violent way, that would be a great reason for his picking the curse. Kohinoor then transferred to his heir Timur Shah, resulting losing most of his father’s conquered territories and an end with poison. Later, it came in the hands of Shah Zaman, that took him into dungeon. Subsequently, its next holder Shah Shuja, adeposed monarch, who experienced a prolonged period of humiliation and exile.

Eventually, it was Maharaja Ranjit Singh where Kohinoor bestowed good fortune, the throne of Punjab bloomed, became coveted and feared by all. However, with the death of Ranjit Singh the curse picked up his heir’s one by one, no doubt their hearts were the place of ill deeds. 

In 1843 this extraordinary gem finds its way to Duleep Singhsecond eldest son of Ranjit Singh, who couldn’t keep it for long, reasoning the colonial injustice and on 29 May 1849, India lost its Kohinoor. 

On 6 April 1850, the Kohinoor loaded on to Her Majesty’s ship the Medea, which caught with deadly cholera resulting in 135 deaths of crewmen, later for the treatment when it reached to the coast of Mauritians, it was refused to stop by. Next the ship meets with a heavy storm that threatened to snap in two: was that the dark curse. While the ship was entering the British territory, their Prime Minister Sir Robert Peel died by felling from a horse, Queen Victoria was attacked by a former British officer. Why not since it was stolen.

Great Britain, once the land where sun never sets, and today a tiny piece of land. Once the colonial power, today a lonely state. Moreover, the sudden death of princess Diana, troubling stories in the immediate royal family leading to the spilt of brothers. The immense deaths resulting the pandemic, and the caging of Kohinoor due to its powerful curse in Tower of London. Doesn’t it signal for the curse of Kohinoor.

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Munaza Kazmi has recently done Master of Philosophy from Bahria University Islamabad. Her debut novel is Unrequited Love. 

She’s an author, columnist writing in different newspapers and a researcher having seven publications till yet, she’s been writing since 2016.

You can connect to Kazmi at twitter @munaza_kazmi or on research gate as munaza kazmi.

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