KARACHI                       -             There was no match for Asif Ali Zardari and Nawaz Sharif when it comes to holding fake bank accounts, said Pakistan Tehreek-e-Insaf (PTI) Vice President and parliamentary leader of the party in Sindh Assembly Haleem Adil Sheikh on Sunday.

“Chaudhry Sugar Mills (CSM) is an example of huge corruption done by Sharifs, in which 45 percent of shareholding was hidden in the names of foreigners,” Sheikh said.

Addressing an important press conference here at Insaf House, with PTI MPAs Dr Saeed Afridi, Faheem Khan and others sitting alongside him, he said that CSM was a textbook example of Sharif’s mode of doing corruption, as there were at least 10 major instances of money injection in the mills between 1992 and 2018 through fake loans and fake TTs.

Sheikh alleged that an amount of Rs550 million, taken as kickbacks from the Islamabad airport project in 2017, was injected into the Chaudhry Sugar Mills.

He wondered as to how the present value of the Mills was Rs6.5 billion, when at the time of purchase of the property by the Sharif family in 1992, Nawaz Sharif’s had shown his assets at Rs1.3 million.

PTI leader said Mian Siraj’s family was the owner of 20 percent shares in the Mills. “Siraj, who was made director of the Mills, was expelled in June 1992 for fraud, for which FIA had initiated an inquiry, but this case was closed by Nawaz Sharif,” he alleged. Sheikh said Sharif brothers minted money in the name of fake loans, and then invested that money in the CSM.

He said funds were laundered to UAE, and then again invested in the Chaudhry Sugar Mills, and the amount was shown on papers of foreign investment.

He further said that in 1991, Ishaq Dar made a foreign company in London with the help of Faisal Bank, and showed to the authorities that plant and machinery for the Chaudhry Sugar Mills were imported by borrowing foreign loan of $15million, while this plant and machinery were bought from the local market at Rs398 million by borrowing a loan from a local bank.

He said some $20 million were transferred to the Mills without machinery and foreign loan. He said later Ishaq Dar closed down his foreign company.

Sheikh accused the State Bank of Pakistan of transferring this money due to the influence of Nawaz Sharif.

The PTI leader further alleged that apart from the foreign company of Dar, 10 other companies were made as well for the purpose of laundering money and their names were published in Panama Leaks that came to surface in 2016.

He said when Ishaq Dar was chairman of the investment board in 1992, six fake foreign currency accounts were opened in the name of Masood Qazi family in an American bank, and they were transferred to Faisal Bank in 1994.

Sheikh alleged that fake NICs and passports of Masood’s family were used for the purpose. “With the help of these fake companies, fake loan of Rs35 million was borrowed in June 1992, and Rs70 million loan in October 1992. From the National Bank of Pakistan, a loan of Rs65 million was taken for Pak Punjab Carpets in 1992, and the funds were then transferred to the CSM. In 1998, Sharifs managed to get these loans written off. Again another loan of Rs30million was taken from Mehran Bank and got written off in 1998,” PTI leader elaborated.

He said a fake foreign account was opened in the name of Saeed Khan. “Saeed Khan was later made deputy governor of SBP and later president of NBP because he was a closed friend of Ishaq Dar. In his name a loan of $3.75 million was taken which was received by Ishaq Dar,” he said, and added, “This money was sent to the UAE through Hundi Hawala.”

He further said in 2001, Hani Ahmed Jamjon, a Saudi citizen, transferred $1.25 million to the CSM. “This loan was obtained in the name of Ramzan Textile Mills, and later this company was merged into Chaudhry Sugar Mills,” Sheikh said, and added, “Direct loans were taken for the Mills between 2010 and 2019. Hassan Nawaz sent Rs80 million to the Mills and out of this money Rs30 million were used by Mariam Nawaz.”

PTI leader said Hassan Nawaz resigned as director of the CSM in 1995, and later a loan of Rs33 million was taken in the name of one Makhdoom Umer Shahryar. “An amount of Rs560 million, made unlawfully from New Islamabad airport project, was transferred to the Chaudhry Sugar Mills, whose project director at that time was Faisal Muneer.

Mariam Nawaz showed 45percent shares of the mills as foreign investment and later this money were transferred abroad and later all shares were transferred illegally in the name of Mariam Nawaz. He said later 45percent shares were transferred in the name of Nawaz Sharif. Later, in 2011 one Yusuf Abbass purchased 45 shares and transferred to Nasir Abdullah Lotha in name of a business in UAE.

 

 In 2013 these shares were transferred to Hassan Nawaz without any documentary proof.

Haleem Adil said today electricity and gas are costly due to these thieves, because costly electricity projects were installed. He said our Captain is repaying the loans of Pakistan. He said price hike and poverty is due to Nawaz Sharif and Asif Zardari corruption. He said Nawaz Sharif could not escape accountability in pretext of illness. He said there in no any deal and all cases are pending in courts.