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Archive for category PIA Destruction By Nawaz Sharif

PML(N) govt pays $50 billion mark-up on loans in 4-years

A special brief report by J. Choudhry/Editor Corporate Ambassador. This report is based on the data of the Ministry of Finance, posted below. It makes clear each and everything.

2016-17 budget

Can you believe it that this country of poor had paid $50 billion worth mark-up on loans obtained from the domestic and foreign institutions in the last four years, from 2013-14 to 2016-17? According to the Finance Ministry’s budget reports, in 2013-14 the PML(N) government spent $12 billion (Rs 1147.8 billion) on payment of mark-up against domestic and foreign loans. In 2014-15, another $13 billion worth amount (Rs 1303.7 billion) spent on payment of interest on loans, whereas, in 2015-16 the payment of mark-up on loans amounted to about $12.40 billion (Rs 1263.56 billion). In the last financial year, 2016-17 (ended in June-2017), the PML(N) government spent another $13 billion (Rs 1348.43 billion) for payment of mark-up (sood/usury) on loans.

 

Thus in four years of PML(N) government, the country has spent a massive amount, equal to $50 billion on the payment of mark-up. It does not include the amount spent on repayment of loans, domestic and foreign. In last four years, the government had obtained about $58 billion worth loans, mostly from the domestic resources —- domestic banks and State Bank of Pakistan while foreign lenders like IMF and others did not provide a big amount of money for budgetary support.

2014-15 budget1

2012-14 budget1

stock exchange loses 12,000 points

Pakistan Stock Exchange has suffered massive losses in recent months and the PSX-100 index had skipped to about 40,237 points on Oct 12, 2017, from 52,000+ points on May 16, 2017, and 53,000+ points in Jan-2017. Increased political tug of war in Panama case and after the disqualification of Nawaz Sharif that things have worsened on the economic and political fronts in the country. The PML(N) govt has deliberately ruined the economic stability perhaps to take revenge of Panama case from Pakistan and Pakistanis.

Foreign exchange reserves of Pakistan have also declined by more than $4 billion since Nov-2016 when reserves stayed above $24+ billion and now at below $20 billion. Table of forex issued by State Bank of Pakistan is posted below.

Forex down $4.26 billion

Posted on  by Javed Mahmood (J. Choudhry) _ Editor Corporate Ambassador

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 The Strategy of Madness by Saeed A. Malik.

 The Strategy of Madness.

Saeed A. Malik.

Although Machiavelli did advocate that a Prince may sometimes profit by playing mad, I can only think of a couple of times this strategy was actually employed.
The first time it was used was by Richard Nixon during the Vietnam War. He told Melvin Liard to let the word out so that it gets to the Russian and Vietnamese leadership that the U.S President harboured such extreme hatred of communism, he could be expected to do just anything to end the Vietnam War. He wanted it bruited about that it was not beyond him, in a fit of madness, to order a nuclear strike on both the countries! He believed that if played properly this could induce both the Russians and the Vietnamese to come to the table and to end the war on U.S terms.
Melvin Laird, who was Nixon’s secretary of defense at the time, was then ordered by Nixon, to lay out plans which would give credibility to this “Madness”. But he chose to put off giving shape to any such plans by one excuse or another. He thought this strategy was too “crazy” and dangerous and could lead to a nuclear war.
But Nixon insisted, and in Oct 1969, US bombers, loaded with nuclear warheads were ordered to fly along the borders of USSR. And for three successive days, they did this.
No one is certain about the degree of fright these manoeuvres created among the Soviets, but nothing much came of them.
But the next time this strategy was employed, it did create an immense amount of fright. This was when Zulfiqar Ali Bhutto, then under arrest and knowing his quarters were bugged, began issuing fusillades of invective against Zia ul Haq and his generals, enumerating all the nice things he would do to them when he returned to power.
By this stratagem, Bhutto did succeed in generating some serious fright. Serious enough to get himself hanged!
And now we are seeing Mian Nawaz Sharif, egged on by his brilliant daughter, taking a leaf out of Bhutto’s book and running with it.. Whether the result he achieves is going to be as brilliant as the one achieved by Bhutto, one cannot predict at the moment. But one can clearly see where he is headed.
He has decided that being the lion that he is, it best behoves him to roar and to keep on roaring until the roar flattens out into a bray. And he seems to have arrived at the felicitous conclusion, that without him, Pakistan stands to lose all meaning. Thus, if he cannot have Pakistan all to himself and his brood, Pakistan would be better off as a heap of rubble.

So far his crowning achievement is the tattering of a political party built of three decades of loot and plunder.

The only thing more pathetic than

Nawaz Sharif is his sorry remnants of slobbering court jesters, making excuses for him and trying to put Humpty
Dumpty

together again.

 And then there is Chaudhry Nisar–sulky little Jack Horner…the sole carrier of the flag of integrity in the late lamented PML-N…the symbol of loyal service to the party. So loyal in fact, that he has proudly confessed to advising Nawaz Sharif at every turn, of how to make away with the wealth he stole from the country he pulverized and pauperized, and therefore to escape the just deserts coming to the plunder king of a ravaged land. 
But luckily for Pakistan, whatever be its plight, Nawaz Sharif’s last attack on the state and its army seems to have put public support decisively behind the army. 
Most writers and nearly all the anchors have given to cutting him slack, have either genuinely turned, or seem too embarrassed to help him along with their usual platitudes of mercenary support. Perhaps Pakistan will see better days yet. 
Perhaps the process of accountability now underway will be an across the board process, and proceed from top to bottom, because the poor bottom, having been buffeted so long and so mercilessly, is now in a truly sorry state and needs some relief.

Saeed A. Malik. 

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If wishes were horses, beggars would be…   Haider Mehdi’s Perspectives

If wishes were horses, beggars would be…

By Syed Haider Raza Mehdi

Nawaz Sharif’s Act of Treason: Launching an undeclared War on Pakistan Armed Forces with the backing of US & India
I think it’s getting close to one Qabar and two bodies.

Nawaz’s aim is political martyrdom.

As long as he controls the party he will continue to create chaos.

But, as history tells us, this great land of Punjab knows which side of the paratha has more ghee.

And with each passing day as the power struggles between the brothers Sharifs and other groups within PMLN  intensify we will see his grip loosening.

This will make Nawaz and especially Princess Tubelight Maryam Safdar, even more desperate and they will resort to desperate measures. To understand Nawaz one only has to recall his instructions to Sohail Zia Butt many years ago.

“Butt saheb Thoray jeean golian sholian….thay Thora jiaa khoon kharrapa!”

Therefore, I have a feeling of great disquiet. A sense of, God Forbid, a major urban terrorist attack and or some highly potent acts of violence. Perhaps even attempts at assassinations. These could be across, political, ethnic, sectarian and religious divides to create more chaos and disorder.

Some orchestrated by PMLN and some by our “friendly” neighbours, India and Afghanistan and our Godfather, the USA.

The last mentioned, continously attempting to keep Pakistan unstable, through political unrest and economic meltdown, create civil unrest, weaken Pakistan and achieve their ultimate objective of defanging us of our nuclear assets.

Iran will likely not try anything funny because a stable Pakistan is in their interest. But some of our other “Middle Eastern brothers” especially Saudi Arabia, will silently support this subversion of Pakistan now no longer expecting much from us.  They are very angry at us for not supporting their Yemen misadventure and helping them kill over 20,000 Yemeni women cholden and civilians. They are also extremely upset that we didn’t join their mad sectarian war against Iran sponsored by the Trumpeter from the USA, despite the very secretive command of a phantom anti terror coslition headed by an extremely uncomfortable Raheel Sharif. And lastly not siding with them against their Qatari misfire.

Saudi Arabia has now openly allied itself to the USA, India, Israel, UAE, Egypt, Regional bloc in direct opposition to the Chinese, Russian, Pakistani and Iranian bloc.

So major geo political realignments driven by selfish national Interests, which must always reign supreme, have changed our relationship with Saudi Arabia.

The same goes for the UAE, which is now also very closely allied to Israel. UAE faces significant economic challenges and competition from CPEC and Gawader and now Qatar. So I don’t see them shedding any tears to see a weak and on its knees, Pakistan.

These anti Pakistan external forces will also support the PMLN  in creating major chaos within to serve their own interests and not out of any love lost for Nawaz.

Nawaz has clearly announced an “undeclared” all out war against the Army, with his recently acquired “Nazriaathee” dogma. He hopes to goad and force the Army into some kind of action. But one sincerely hopes that the Army does not fall into this trap.

But one does hope and pray they also provide full support to the Supreme Court and investigators in doing their jobs. This is a sad reality.  But in a Nation of Mafia Dons, with an ex PM your biggest, this support is critical.

Today only Imran, the Supreme Court, and the Army are the three internal saving graces. China being the one major external one.

In my opinion, an ideal scenario given the current environment and without any extra constitutional steps would constitute the following outcomes.

1. NAB references against Nawaz and family to be filed ASAP.
2. Irfan Mangi as DG to head investigation
3. Quick trial and conviction of Nawaz and family. Jail.  Seizure of assets and lifetime disqualification. The evidence is all there. And conviction and lifetime disqualification for others, especially Ishaq Dar.
4. NAB reference against PM Abbasi for LNG. Trial, lifetime disqualification, conviction and Jail.
5. Shahbaz Sharif and Rana Sanaullah Model Town trial followed by Conviction.  Disqualification and jail.
6. Zaradari NAB references. Trial. Disqualification, Conviction and Jail. Same for Faryal Talpur.
7. Census based demarcation and remarcation of election constituencies.
8. Changes of heads of NAB, FBR, FIA, State Bank, SECP.
9. New constituted Election Commission comprising competent and honest professionals without biases.
10. Trial and conviction of Zafar Hijazi of SECP and Saeed Ahmed of NBP with extremely harsh and exemplary punishment to send a message to senior bureaucrats that they can, and will be taken to task if they do the bidding of their political masters by indulging in illegal and criminal acts.

All above through constitutional petitions filed with the Supreme Court.

That’s my ideal scenario. But if wishes were horses, beggars would be kings.

Of course many will target this as an attempt to remove a “legally and democratically” elected PM through a judicial coup.

The answer to this is simple.  If your Prime Minister and family and your Finance Minister and current PM are criminals, crooks, money launderers, irrespective of how they were elected, they must face the due process of law.

And yes this process must go on to catch others as the judicial process gains strength and investigators are able to do their jobs without fear.

Therefore, in my opinion, this is the only way for us progress, positively.

The people of Pakistan have another golden opportunity to cleanse the Augean stables.

We owe it to all our brave sons and daughters, military and civilians who gave the ultimate sacrifice for Pakistan and to our future generations to fix ourselves, once and for all.

We must not lose this opportunity to rid us of the cancer of Nawaz and Zaradari and all they represent and everything that’s corrupt in any institution, civilian or military.

Let’s not forget that Our Flag flutters not because of the breeze, but the dying breaths of its brave men and women who died, defending it.

-Haider Mehdi

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NASEEM ASHRAF & IQBAL ASHRAF & MUSADAK MALIK: THE CROOK BROTHERS: New NBP Chief Rewarded for Sanctioning Rs. 500 Million to Sharifs’ Brothers Sugar Mill in 1990s

 

BROTHERS MASTER CROOKS & DESTROYERS OF PAKISTAN VIA CORRUPTION:

NASEEM ASHRAF & IQBAL ASHRAF 

with

Dirty Fingers in the Cookie Jar of Every Government

New-NBP-chief-rewarded-for-sanctioning-Rs500m-to-the-Sharifs'-sugar-mill-in-1990s-salman-shahbaz-sharif-ahmed-iqbal-ashraf

By Sarmad Ali

Islamabad, Jan 28 (Pak Destiny) The Nawaz Sharif government has rewarded Syed Ahmad Iqbal Ashraf by appointing him president of National Bank of Pakistan (NBP) for his services – sanctioning Rs500 million loan to the Ramzan Sugar Mill of the Sharifs in 1990s.
“Ahsraf has also been given a task to settle down Rs3billion loan of Itifaq Foundry which it had taken from the NBP in the 1990s,” the sources said.
The sources said Ashraf was the regional director of NBP when he had sanctioned Rs500 million to the Sharif’s Ramzan Sugar Mill when they needed money. Salman Shahbaz had asked his uncle to appoint Ashraf.
A chartered accountant by profession, Ahmad Iqbal is a brother of Dr Nasim Ashraf, the former minister for National Commission for Human Development (NCHD) and president of Pakistan Cricket Board in General Musharraf’s government. Nasim Ashraf brought in Musadak Malik, a big time crook, whose connections with a  super power are highly suspicious. After Nasim Ashraf and Iqbal Ashraf absconded from Pakistan, they left their master-mind Musadak Malik to be an Advisor to Nawaz Sharif. This unemployed US Pharmacist, still a US Citizen has a gift of gab and can through use of this gift he wiggled his way  into Nawaz Sharif’s Cabinet as an his Advisor.
He replaced Dr Asif Brohi who had three years to reach the retirement age.
A total of 51 candidates had applied for the post. The selection was originally to be made by a high-powered commission comprising Federal Tax Ombudsman and two academicians from Agha Khan University and Lahore University of Management Sciences. – Pak Destiny

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WHAT A JOKE — RECORD OF PROPERTY BOUGHT IN 2006 WAS LOST DURING 1999 MARTIAL LAW!

Panamagate: No record for Sharifs’ past business dealings, counsel tells Supreme Court

HASEEB BHATTI 

in DAWN, Pakistan

As the Supreme Court resumed hearing the Panamagate case on Wednesday, Advocate Salman Akram Raja picked up his arguments where he had left them off.

After welcoming Justice Sheikh Azmat Saeed — whose sudden illness had forced a suspension in the case’s daily hearings — Raja reminded the court that “this is neither a trial nor the defendant a witness.”

“I will only argue this case based on the evidence present,” Raja, who represents Hassan and Hussain Nawaz, continued.

The record for the Sharif family’s business dealings for the last 40 to 45 years cannot be reproduced, the counsel said, as “it was lost during the 1999 martial law.”

The matter can be sent to relevant departments for inquiry as the Arsalan Iftikhar case determined that trials for cases can be held at corresponding forums, Salman Akram Raja told the court.

“A court has never conducted an independent inquiry in any criminal case,” Raja argued, adding that Article 10 of the Constitution says that every citizen of this country deserves a fair trial and that departments formed under the law should be allowed to do their job.

“There is no charge against the Prime Minister, so there is no charge against his children either,” he continued.

“If we suppose that the PM’s children are his employees, according to the National Accountability Bureau’s laws, then the burden of proof does not fall on the defendants,” Raja argued in court.

“This is not a criminal court, so even if Hassan and Hussain Nawaz are suspected, there is no proof against them,” he added.

There were eight questions that the court posed to the defendants, including the relationship between Mian Mohammad Sharif and the Al Sani family, the shares in Nielsen and Nescoll, and the profits the family gained from them, the counsel recalled.

Lawyer Salman Akbar said that Sharif family has ties with more than one Qatari royal family but he cannot disclose the name of other royal families before the court due to certain reasons.

 

 

 

 

 

 

 

 

 

 

 

 

 

“There were questions about the trust deed as well, and in this hearing, I will answer all these questions,” he told the court.

Justice Khosa advised Raja that he should first finish his arguments before answering the court’s questions.

Moving on to the matter of the London flats, Hussain Nawaz’s counsel argued that the flats were bought by the Al Thani family between 1993 and 1996.

“The Sharif family did not own the flats in 1999, as Hussain Nawaz was given the bearer certificate to the flats by the Al Thani family,” Raja argued. He added that the shares for the flats were given to Minerva Financial Services in 2006.

Upon hearing this argument, Justice Azmat Saeed asked the counsel to provide a paper trail for these transactions, and said, “You have been moving from one point to the other since the beginning, but have failed to provide any evidence in this regard.”

The allegation is that Maryam Nawaz contacted Minerva Holdings, Raja retorted, upon this, the bench asked that evidence should be proved that Hussain Nawaz is the beneficial owner of the offshore companies.

PTI’s new evidence

The Pakistan Tehreek-i-Insaaf (PTI) had announced on Tuesday that it would submit three more documents to disprove the stance adopted by Prime Minister Nawaz Sharif and his family, but the ruling Pakistan Muslim League-Nawaz (PML-N) is not convinced.

“We are submitting three more documents — one from PTI chairman Imran Khan that authenticates all previous documents presented by the party, the expert opinion of UK-based lawyers and a document that proves that Maryam Nawaz is the owner of UK-based firms Minerva, Nielson and Nescoll,” PTI spokesman Fawad Chaudhry told a press conference.

He said that Imran Khan would submit an affidavit stating that all documents previously submitted by the party were credible and authentic.

PML-N MNA Daniyal Aziz told Dawn that PTI’s lawyers had already completed their arguments and submitted all the evidence they had to the apex court. “Once they have completed their arguments, how can they file more documents?”

 

From The Guardian. London Archival Report

Search for the millions Sharif ‘stole’

The investigator Pakistan’s PM could not stop


They tortured Rehman Malik by placing his hands and feet on ice for up to an hour at a time at a ‘safe house’ in Islamabad. Three years on, he still has trouble feeling sensations in his palms and soles from the punishment, meted out in black masks, by Nawaz Sharif’s heavies.His neck, too, bears the painful crick from a year spent in solitary confinement in a tiny cell at Rawalpindi’s Adila jail with a brick wrapped in newspapers for a pillow. Malik, in mortal fear of convicted terrorists and official hatchet men, found his monthly half-hour visit from his seven-year-old son his single comfort.

Three times following his arrest in November 1996 the courts ordered Malik’s release. Each time he was re-arrested on trumped up charges until, after 12 months of humiliation, the Pakistani Supreme Court itself ruled his detention illegal.

Malik’s crime? To have been the deputy head of the Federal Investigation Agency (FIA), Pakistan’s equivalent of the FBI, investigating allegations of massive corruption by Prime Minister Nawaz Sharif, his family, and cronies.

At 46, he was the youngest officer to reach such a senior rank, the equivalent of an army major-general. In a 20-year career, Malik had gained an impressive reputation in the West for anti-terrorist expertise, including investigation of the 1993 World Trade Centre bombing in New York and of Saudi fundamentalist Osama bin Laden. And, after Malik’s inquiries were publicized by The Observer last year, he started a ball rolling which culminated in the coup against Sharif. ‘I have suffered enormously from doing my duty as a civil servant. My friends, family, and colleagues have been harassed. My life has been at risk,’ Malik told The Observer in his first UK interview since fleeing Pakistan for London after an attempt on his life 15 months ago. ‘I am not a politician, but I welcome the army’s action. They have saved Pakistan from someone who was ruining the country. As a career officer, I would like to return to fulfill my official obligations as soon as possible.’

He is also promising further explosive revelations, which will implicate Sharif and senior Muslim League politicians in allegedly creaming off more of the country’s wealth overseas.

Malik’s report last year was painful enough for the deposed Prime Minister, as were the cat-and-mouse tactics by which Malik has been a thorn in his side since. The 200-page report, smuggled into the country on Sharif’s official Jumbo jet, set out a secret web of fake bank accounts and firms in offshore tax havens through which Sharif’s family allegedly siphoned off more than $70 million (£40m) into London property, Swiss investments and banks in New York.

The family, whose empire grew hugely while Sharif was in office, was also accused of defaulting on $120m of state bank loans, a favourite way of milking the public purse.

According to further documents seen by The Observer, however, the revelations appear to be the tip of an iceberg. Following inquiries over the past year, Malik says he has established further channels by which the Sharif family channelled money illegally offshore.

They include $2.74m allegedly deposited in the account of an Essex-based Pakistani family at the Atlas BOT (Bank of Tokyo) Investment Bank in Lahore as security for loans to four Sharif family members. They also include $4.6m deposited at the Al Faysal Investment Bank in Islamabad as security for a loan to Hamza Board Mills, a paper, and forestry firm in the Sharif family’s Ittefaq group.

Among all his amassed wealth, Sharif also appears to have concealed ownership of a Russian-made Ulan helicopter, which he used during election campaigns. The aircraft, worth more than $1m, was bought from an Arab prince, Sheikh Abdul Rehman Bin Nasir Al Thani of Qatar, in November 1996 and registered in Sharif’s name at the Pakistani Civil Aviation Authority, according to official documents obtained by Malik. It was, however, not declared on Sharif’s statutory filing of assets and liabilities to the country’s Election Commission. ‘This was a man who once told me he could not afford a second-hand Mercedes. How then could he buy a helicopter?’ Malik asks.

Most explosive of all, however, is likely to be Malik’s new investigation, which is almost concluded and alleges laundering of more than $100m offshore via a network of UK trusts, Swiss accounts and offshore havens including Liechtenstein.

An Observer investigation has revealed other instances of alleged corruption during Sharif’s last administration:

• In an emergency budget after Pakistan’s nuclear tests last year, import duties on luxury cars were cut from 325 per cent to 125 per cent. A week later they were restored. In between a friend of Sharif imported 80 cars.

• In 1996 senior figures at Bankers Equity Limited, a finance house granted a huge loan, believed to be more than £10m, to close associates of Sharif. Last summer the bank collapsed and several senior managers, including a friend of Sharif’s, were arrested. The loan is outstanding.

• After the 1997 elections the Sharif family and their business concerns were able to reschedule and renegotiate loans worth nearly £100m from eight banks. When ordered by courts to pay some back they surrendered 33 factories. Only one factory was fully operational, the rest closed, out of order, or both.

Sharif, his family, and former Ministers have consistently dismissed the allegations as politically inspired.

Sharif himself is still in ‘preventative custody’, as the army calls it, in a government guesthouse on the outskirts of Islamabad. General Pervez Musharraf, the self-appointed Chief Executive of Pakistan, has not revealed his plans for the man ousted in a coup 10 days ago. Military sources say the evidence is being gathered to put Sharif on trial for corruption and possibly treason.

Sharif’s former residence, the 100-acre Raiwind estate, near the city of Lahore in eastern Pakistan, is widely seen as a symbol of the opulent lifestyle the Sharifs have led since their pursuit of power and wealth began to pay off 15 years ago. Last week The Observer was the first Western newspaper to visit it since Sharif’s fall.

Brand new roads lead out of Lahore, where the Sharifs have two other houses, to the walled 100-acre estate. A turning leads to a helicopter pad and a set of steel gates. Beyond is an open, grassy compound where five houses, all in white-washed villa style, lie in a rough circle around a man-made pond. Each has a huge colonnaded porch sheltering a £20,000 four-wheel drive Jeep. Two of the buildings are partially constructed as is a pool, though a lake stocked with fish is completed. There is a small zoo.

All the houses are similar, with deep red carpets and velvet curtains throughout. Sharif’s own house is distinguished by the number of televisions – the Prime Minister was gadget crazy. Now army machine gunners have replaced the bodyguards who previously watched the compound’s perimeter. And the muzzles of their weapons point in as much as out.

Raiwind is, to the ousted Prime Minister’s critics at least, a symbol of how his administration manipulated government to benefit itself.

According to opposition spokesmen, Sharif has ‘used public office for personal economic gain’. It is corruption, they say, even if it is within the letter of the law.

Soon after coming to power for a second time in February 1997 Sharif declared the Raiwind site to be the ‘Prime Minister’s Camp Office’ – his home away from the capital. The local municipal authority took on the estate’s maintenance at an estimated annual cost of 40 million Pakistani rupees (£500,000) and built a new road for it, while the state has also supplied gas, electricity and a 200-line telephone exchange.

Near Raiwind last week feelings were mixed about Sharif’s fall. Many remain loyal to a man they see as a local boy made good. ‘He has done a lot around here,’ said Ahmadullah Ali, a farmer. ‘He is a good man.’ In the rough and tumble world of Pakistani politics, Sharif may be down, but he still isn’t out.

 Reference Courtesy

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