Here I am quoting a book “*CAPITALISM’S ACHILLES HEEL Dirty Money and How to Renew the Free-Market System” by RAYMOND W. BAKER, *Lets see what the author says about our very own Nawaz Sharif one of the richest people in the country and a contender for the prime minster slot after the next elections.
During 1980’s and 1990’s growth of Ittefaq foundries from one unit to 30 units producing steel, sugar, paper and textiles with a combined revenues of $400 million, remember this was the period in which he remained the CM (of Punjab) and PM.
One of the biggest projects during Nawaz Sharif’s tenure was the Lahore to Islamabad Motorway. There were two biddings for the project which accompanied midnight meetings with Daewoo officials. Although Daewoo was the largest bidder both times the project was handed over to them. The project which was estimated to cost Rs 8.5 billion was completed in Rs 20 billion.
For the yellow cab scheme 50000 vehicles were imported duty free which cost the exchequer $700 million (in lost customs duty). Banks were forced to hand over the cabs after 10 % deposit. 60% of the buyers promptly defaulted, this left the banks with $500 million unpaid loans.
Upon his dismissal the next government published a list of 322 biggest loan defaulters $3 billion out of $4 billion, and Nawaz Sharif was tagged for $60 million.
In 1993 Ittefaq group went bankrupt after he lost his premiership, by then only three companies of the group were operational and the default of the remaining companies totalled 5.7 billion rupees ($ 100million).
Some Offshore companies that have been linked to Nawaz Sharif include three in British Virgin Islands (Nescoll, Nielson and Shamrock) and one in Channel Island (Chandron Jersey Private Ltd,). Some of these entities were used to buy properties which include four grand flats in Park Lane. Reportedly payments were made to Banque Paribas en Suisse, which then instructed Sharif ’s offshore companies Nescoll and Nielson to purchase the four luxury suites.
In her second term Benazir had the financial matters of Nawaz Sharif investigated and the following were the results of that:
$ 160 million dollars pocketed from the Motorway project
$ 140 million dollars unpaid loan from the banks
$ 60 million dollars earned in rebates offered to the sugar exported by mills
$ 58 million dollars from inflated price of imported sugar
This investigation was carried out by Rahman Malik (then Deputy Director FIA) and he stated at the end of the report:
“The extent and magnitude of this corruption is so staggering that it has put the very integrity of the country at stake.”
This investigation was carried out by Rahman Malik (then Deputy Director FIA) and he stated at the end of the report:
“The extent and magnitude of this corruption is so staggering that it has put the very integrity of the country at stake. We will try our level best to outdo this.”
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Rehman Malik seems to know a whole lot more about the Sharif brothers, as when they try to blackmail the government, he quietens them up promptly. With the result go Zardari go becomes come Zardari come.
I have not mentioned here the "Qarz utaro mulq sanwaro" scheme in which the middle class of the country poured money into and we dont know what happened to that, secondly the capital flight (mostly of the friends and family of the government) before they seized foreign reserves of the country.
I think Rehman Malik is acting as a blackmailer vis a vis Nawaz Sharif and Altaf Hussain, thats one of the main reason for this government to complete its tenure. We can see different events during the past four years and how the government has blackmailed Sharif/Altaf into submission.
Both PMLN and PPP wont act against each other as they have weaknesses of each other.
I think you should join the investigative team of PTI who is still searching for the proves of corruption and illegal wealth of Sharifs… give above information to IK so that he will have some kind face-saving…
If the above information is in public domain and is not used by any of the opponents of NS then it does not have enough basis to be challenged in the any court of law… PTI is more than welcome to take it to the court…file a case/petition Hamid Khan is there, Justice Wajih is there, why IK is letting NS live while all the proves are there??? or wait there are no proves… but someone just want to repeat the stuff just to make other believes it is true… and in mean time hide its own weakness…
Nahin bhai I cant say anything about your comments, Nawaz Sharif is innocent, and he has earned everything by his sheer hard work and devotion. All these reports are character assassination of an innocent man.
By the way what happens to the Go Zardari Go campaign by a slight warning by Rehman Malik.
Nahin bhai I cant say anything about your comments, Nawaz Sharif is innocent, and he has earned everything by his sheer hard work and devotion. All these reports are character assassination of an innocent man.
By the way what happens to the Go Zardari Go campaign by a slight warning by Rehman Malik.
Do you have prove otherwise???? if yes hand it over to your leader because woh aaj kal inhi proves kay liya bolaya bolaya sa phir raha hay and here you are with all the info...
and as far as Go-Zardari-Go movement is concern, i promise i'll tell you about it the moment you will tell me where the Hakomat HaTaó Mulk Bachaó Campaing initiated by PTI/IK has gone!!! do you remember that movement or have forgotten all about it???
can you prove corruption against ANY political leader in Pakistan? does that mean they have not done it? Even Mr 10% is innocent by that criteria as to-date nothing has been proved against him.
