Pakistani former prime minister’s daughter acquitted in ‘Avenfield Reference’

Maryam Nawaz, left, daughter of former Prime Minister Nawaz Sharif waves to her supporters outside the Islamabad High Court in Islamabad, Pakistan, on September 29, 2022. (AP)
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Updated 29 September 2022
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Pakistani former prime minister’s daughter acquitted in ‘Avenfield Reference’

  • Sharifs accused of embezzling public funds to offshore accounts used to purchase four luxury Avenfield properties
  • Graft case also implicated Sharif’s sons, Hassan and Hussain, Maryam Nawaz and husband Safdar Awan acquitted

ISLAMABAD: The Islamabad High Court (IHC) on Thursday acquitted Maryam Nawaz, the daughter of former Prime Minister Nawaz Sharif, and her husband Muhammad Safdar Awan in a case popularly known as the Avenfield Reference that relates to the purchase of a number of upscale properties in London. 


The Sharifs were accused of embezzling public funds to offshore accounts that were used to purchase four high valued Avenfield properties, an apartment block on Park Lane in central London. The graft case also implicated Sharif’s sons, Hassan and Hussain.

The Sharifs say the case is politically motivated.

In July 2018, an accountability court sentenced former PM Sharif to 10 years in prison in the case and gave his daughter Maryam Nawaz seven years for abetment. Sharif’s son-in-law Awan got a one-year sentence for not cooperating with the investigation. 

Th ex-PM and his daughter subsequently filed an appeal against the jail sentence with the Islamabad High Court, asking it to annul the verdict of the accountability court.

"This is how lies come to end," Nawaz said after the acquittal hearing, lauding her legal team for fighting her case for four years.

Prime Minister Shehbaz Sharif, the younger brother of Nawaz Sharif, took to the Twitter:

“The edifice of lies, slander & character assassination has come crumbling down today,” he said.

“Maryam Nawaz's acquittal in the Avenfield Reference is a slap in the face of so-called accountability system that was employed to target Sharif family. My congratulations to Maryam Beti [daughter] & Safdar.”

 

 

 

Sharif was also sentenced in a separate case to seven years in prison in December 2018 and fined $25 million on corruption charges. An anti-corruption court in Islamabad ruled that Sharif was unable to prove the source of income that had led to his ownership of a steel mill in Saudi Arabia.

Sharif left the country to receive medical treatment in London in 2019 and has since not returned.


IMF hails Pakistan privatization drive, calls PIA sale a ‘milestone’

Updated 10 January 2026
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IMF hails Pakistan privatization drive, calls PIA sale a ‘milestone’

  • Fund backs sale of national airline as key step in divesting loss-making state firms
  • IMF has long urged Islamabad to reduce fiscal burden posed by state-owned entities

KARACHI: The International Monetary Fund (IMF) on Saturday welcomed Pakistan’s privatization efforts, describing the sale of the country’s national airline to a private consortium last month as a milestone that could help advance the divestment of loss-making state-owned enterprises (SOEs).

The comments follow the government’s sale of a 75 percent stake in Pakistan International Airlines (PIA) to a consortium led by the Arif Habib Group for Rs 135 billion ($486 million) after several rounds of bidding in a competitive process, marking Islamabad’s second attempt to privatize the carrier after a failed effort a year earlier.

Between the two privatization attempts, PIA resumed flight operations to several international destinations after aviation authorities in the European Union and Britain lifted restrictions nearly five years after the airline was grounded following a deadly Airbus A320 crash in Karachi in 2020 that killed 97 people.

“We welcome the authorities’ privatization efforts and the completion of the PIA privatization process, which was a commitment under the EFF,” Mahir Binici, the IMF’s resident representative in Pakistan, said in response to an Arab News query, referring to the $7 billion Extended Fund Facility.

“This privatization represents a milestone within the authorities’ reform agenda, aimed at decreasing governmental involvement in commercial sectors and attracting investments to promote economic growth in Pakistan,” he added.

The IMF has long urged Islamabad to reduce the fiscal burden posed by loss-making state firms, which have weighed public finances for years and required repeated government bailouts. Beyond PIA, the government has signaled plans to restructure or sell stakes in additional SOEs as part of broader reforms under the IMF program.

Privatization also remains politically sensitive in Pakistan, with critics warning of job losses and concerns over national assets, while supporters argue private sector management could improve efficiency and service delivery in chronically underperforming entities.

Pakistan’s Cabinet Committee on State-Owned Enterprises said on Friday that SOEs recorded a net loss of Rs 122.9 billion ($442 million) in the 2024–25 fiscal year, compared with a net loss of Rs 30.6 billion ($110 million) in the previous year.