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Archive for category Nawaz Sharif US Agent

Before And After Maryam Nawaz Sharif: What Money Can Buy

 

A Picture Worth a Thousand Words

 

 

Maryam Nawaz Sharif,Daughter of the Prime Minister of Pakistan.Offshore Companies in British Virgin Islands,St.Kitts,Nevis

Several Billion Dollars of Pakistani Taxpayers & 200 Million Poor Pakistanis Survival Money Stolen

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PANAMAGATE SHARIF,ZARDARI, REHMAN MALIK TOP THIEVES OF PAKISTAN: What the Panama Papers disclose about Pakistan’s rogue politicians

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The Panama Papers, a global investigation into the sprawling, secretive industry of offshore that the world’s rich and powerful use to hide assets and skirt rules by setting up front companies in far-flung jurisdictions has jolted the whole world.

Based on a trove of more than 11 million leaked files, the investigation exposes a cast of characters who use offshore companies to facilitate bribery, arms deals, tax evasion, financial fraud and drug trafficking.

The leak reveals a lot about politicians and notables in Pakistan.

Umar Cheema, a journalist working with The News International and a member of the ICIJ that partnered with more than 100 media organisations from 76 countries to review 11.5 million secret files that a whistleblower leaked to Süddeutsche Zeitung, reveals names of Pakistanis with offshore holdings.

Former prime minister Benazir Bhutto, her nephew Hassan Ali Jaffery and former interior minister Senator Rehman Malik are reported as the only three shareholders of a company Petroline International Inc., reports The News.

Javed Pasha, a close friend of Asif Ali Zardari, is found to have links with five offshore companies. Pasha shares the companies with some prominent businessmen of Indian origin.

Punjab Chief Minister Shahbaz Sharif’s relative Ilyas Mehraj has been mentioned as a major shareholder of a company though he firmly denies it. Another relative of the Punjab CM Samina Durrani owns three companies; the latest was opened in 2010.

Saifullah family of Lakki Marwat, which has a history of politics and business in the country, owns a record number of 34 offshore companies in the British Virgin Islands and Seychelles.

The companies are owned by Senator Osman Saifullah and his family members. The companies also own bank accounts in Hong Kong, Singapore, Ireland and lands in the United Kingdom.

Interestingly, Senator Osman Saifullah is a member of the Tax Reform Commission set up by the government to check revenue leakage, broaden the revenue base and improve tax administration.

According to documents available on the ICIJ website, the PM’s children Mariam, Hasan and Hussain “were owners or had the right to authorise transactions for several companies”.

Mariam is described as “the owner of British Virgin Islands-based firms Nielsen Enterprises Limited and Nescoll Limited, incorporated in 1994 and 1993”.

On one of the documents released by ICIJ, the address listed for Nielsen Enterprises is Saroor Palace in Jeddah, Saudi Arabia. The document, dated June 2012, describes Mariam Safdar as the ‘beneficial owner’.

According to ICIJ, “Hussain and Mariam signed a document dated June 2007 that was part of a series of transactions in which Deutsche Bank Geneva lent up to $13.8 million to Nescoll, Nielsen and another company, with their London properties as collateral.”

In July 2014, the two companies were transferred to another agent.

Hasan Nawaz Sharif is described as “the sole director of Hangon Property Holdings Limited incorporated in the British Virgin Islands in February 2007, which acquired Liberia-based firm Cascon Holdings Establishment Limited for about $11.2 million in August 2007”.

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Nawaz Sharif : A Family of Pathological Liars & Documents That Prove it

 All Dictators Lie, Nawaz Sharif lies More than other Dictators

Claims he has no properties except the house he lives in Raiwind Palace.

Nawaz Sharif : A Family of Pathological Liars

 
 
 Pakistan Prime Minister Nawaz Sharif is among a few lawmakers who are billionaires, according to statements of assets and liabilities of parliamentarians released by the Election Commission of the country.

The net value of assets of the President of ruling Pakistan Muslim League-N (PML-N) party is over US Dollars 8-22 Billion 

 
 

Tweets About Documentary Proofs of Lies

  1.  Asad Kharal Retweeted

    Blatant Lies Exposed When Hassan Nawaz Sharif bought #FlagshipInvestment Ltd in 2001, his res was 17 Park Lane flats

     

     
  2.  Asad Kharal Retweeted

    #Sharifs Blatant Lies Exposed Nawaz Sharif bought anthr flat on 3rd flr 17, Avenfield Hse, Park Lane on 1 June 93

     

     
  3.  Asad Kharal Retweeted

    #Sharifs Blatant Lies Exposed Nawaz Sharif bought flat on 3rd floor 16, Avenfield House, Park Lane on 31 July 95

     

     

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Orange Line Scam Nabbed: Evokes Bad Tempered Diatribe From Bad Tempered Nawaz Sharif

 

 

 

 

 

 

 

 

 

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The arrest of the contractor of Orange Train project by National Accountability Bureau (NAB) has reportedly angered Prime Minister Nawaz Sharif who on Tuesday lashed out at the accountability watchdog, a local news agency Online has claimed.

The news agency citing NAB sources said that NAB Lahore had arrested Amir Latif, the contractor whose construction company Kalson Private Limited is currently working on Orange Line Metro Train project as a Joint Venture Project (JVP).

The NAB officials arrested Amir Latif on charges of fake payments in another project, the NAB sources said.

The sources revealed that severe pressure was being mounted for the immediate release of Amir Latif but investigation was being conducted into his crimes in the interest of the nation. They said that had sought physical remand of the accused. Additionally, NAB has also started to investigate the construction of Raiwind road.

The provincial chapter of NAB has expedited operations against elements allegedly involved in corruption across the province. NAB has made it compulsory to submit the details of all the contracts and projects worth over Rs 500 million to NAB office.

NAB has uploaded a form on its website in this regard and it has been made compulsory for all government institutions to submit it in NAB’s office before awarding any development project.

On the other hand, NAB has also arrested five people allegedly involved in the embezzlement of Rs 850 million.

Meanwhile, NAB’s officials had to complete the inquiry of cases pending against PM Sharif by December 31, 2015. The new deadline for the completion of the inquiry, the sources claimed, has been set for March 31.

Sources said that the Punjab government had expressed dissatisfaction over NAB’s demand of submitting details of all the development projects worth over Rs 500 million, while PM Sharif had categorically warned that stern action would be taken if NAB did not reform itself.

After the statement of the PM against NAB, a high-level meeting is likely to be convened soon with NAB Chief Chaudhry Qamar Zaman in the chair to review the situation in Punjab.

 

 

 

Corrupt Nawaz Sharif’s Orange Line Scam Nabbed:Evokes Bad Tempered Diatribe

 
 
 
 
 
 
 
 
 
 
ISLAMABAD –The arrest of the contractor of Orange Train project by National Accountability Bureau (NAB) has reportedly angered Prime Minister Nawaz Sharif who on Tuesday lashed out at the accountability watchdog. 
 
 
Dunya News citing NAB sources said that NAB Lahore arrested Aamir Latif, the contractor whose construction company Kalson Private Limited is currently working on Orange Line Metro Train project as a Joint Venture Project (JVP). The NAB officials arrested Aamir Latif on charges of fake payments in another project, the NAB sources verified. The sources revealed relentless pressure was being mounted for the immediate release of Aamir Latif but investigation was being conducted into his crimes n the interest of the nation. They said they have sought physical remand of the accused. 
Moreover, NAB has also begun to investigate the construction of Raiwind road. The provincial chapter of NAB has expedited operations against elements allegedly involved in corruption across the province. NAB has made it compulsory to submit the details of all the contracts and projects worth over Rs 500 million to NAB office. NAB has uploaded a form on its website in this regard and it has been made a necessity for all government institutions to submit it in NAB’s office before awarding any development project. On the other hand, NAB has also arrested five people allegedly involved in the embezzlement of Rs 850 million. According to sources, the arrested individuals include Mian Maqsood Akhtar, Rana Salim Akhtar, Pervaiz Iqbal, Chaudhry Ahsan Akhtar and Ijaz Hussain. The accused were involved in producing inappropriate profits for the Shah Abdul Latif and Company. 
 
 
Meanwhile, NAB’s official’s had to complete the inquiry of cases pending against PM Sharif by December 31, 2015. The new deadline for the completion of the inquiry, the sources claimed, has been set for March 31. Sources said that the Punjab government had expressed dissatisfaction over NAB’s demand of submitting details of all the developmental projects worth over Rs 500 million, while PM Sharif had categorically warned that stern action would be taken if NAB did not “reform” itself. 
 
 
After the statement of the PM against NAB Chief Chaudhry Qamar Zaman, a high level meeting was convened with NAB Chief in the chair to review the situation in Punjab. 
 
The sources reported NAB has also prepared a foolproof documentation for Metro Bus scandal, and has started to probe in to the matter. As per documents, the Punjab Government claimed the estimated cost of production of Metro Bus project to be 30 Billion but playing devil’s advocate NAB gave out its estimations i.e. 50 Billion spent on the project, thus coming down hard on the govt as well as putting the responsibility of being accountable. 
 
 
While on his visit to Multan Regional Bureau NAB Chief reviewed its performance on basis of annual inspection performed by Inspection & Monitoring Team. NAB) Chairman Qamar Zaman Chaudhry expressed his firm resolve to eradicate corruption by adopting zero tolerance policy against the menace throughout the country. 
 
 
Highlighting strengths and weaknesses of NAB the Chief appreciated the current performance and directed all officers/officials to work more vigilantly, honestly and diligently to eradicate corruption and corrupt practices.
 
 
It is highly expected, said the sources, that the latest Pak-Qatar LNG deal will also be speculated by NAB since the government has placed all eggs in one basket while binding Pakistan and its citizens into such a frightening contract of 15 years in which Pakistan will have to pay some five million dollars daily for fifteen years while politicians will get some Rs 400 billion in kickbacks if the deal to import LNG from Qatar on hefty rates is finalized.
 
The National Accountability Bureau (NAB) is likely to initiate probe into the bank accounts of Petroleum Minister Shahid Khaqan Abbasi and Secretary Arshad Mirza in connection with alleged scandal worth Rs 48 billion.
 
Sources in NAB told Online that the noose would further be tightened around the MD PSO Imran Sheikh and officers of Sui Southern Company. The petroleum ministry by violating the OGRA rules accorded LNG worth Rs 48 billion to the blue-eyed persons of PM Sharif which brings a severe loss to the national kitty. The sources further revealed that Irfan Siddiqui, Adviser to PM, said that the NAB was just trying to sabotage the LNG project as the secretary petroleum had already recorded his statement regarding this scam in NAB.
 
 
The Pakistan Economy Watch (PEW) on Friday had said politicians should not try to make fortune overnight by exploiting energy demand-supply imbalance in Pakistan. Abdullah Tariq, SVP of PEW revealed in a press statement, the government has bent all the rules and regulations for the import of 500 million cubic feet of LNG per day under a long-term contract. 
 
 
Secretary Petroleum Muhammad Ejaz Chaudhry got fired for resisting the Pak-Qatar covenant while efforts are on the move to “discipline” Oil Gas Regulatory Authority (Ogra) which has also opposed the deal, he further claimed. Tariq said that the ministers who are uneasy over letters from Ogra against LNG import plan to dissolve the department or bring under the direct control of the petroleum ministry. 
NAB has given a free hand to its Punjab Bureau and its officials to probe corruption cases and Orange Line Metro Train (OMT) is the top-notch scandal for the looming and inevitable enquiry, informed the sources. Since its inauguration till construction, OMT project has been under constant criticism and different political parties have expressed their disapproval of the project. The former CM Punjab, Chaudhry Pervez Elahi termed Orange Metro Line Project bigger than Nandipur Power Project, another mega scandal of PML-N, for making dollars and labeled it as an anti-employment and anti-environment project. 
 
 
 
Late in January, the locals of Samanabad, Lahore staged a protest against the construction of Orange Line Train project. The residents received 24-hour deadline from the Lahore Development Authority (LDA) to vacate their houses causing agitation amongst the protesters who burnt tyres, blocked the roads and removed the barriers put in place for the OMT project. The protesters claimed that they were being thrashed out of their homes without any compensation or alternate arrangements. 
 
 
 
The protesting residents said that the mismanagement in construction of the multi- billion project has turned their lives into hell. Whilst the contactors have not undertaken any plan to control the pollution and disorderly traffic prior to the start of construction, the protesters have also demonstrated against noise and dust pollution and traffic problems they face on daily basis due to the construction project of OMT.
 
 
 
However, a sum of Rs 1 billion has been paid by the LDA as compensation during one day and payment of more than Rs 2 billion has been made so far to the local residents in order to locate them in different residential areas. 
 
 
 
UN Special Rapporteur in the field of cultural rights Karima Bennoune, in a press release issued by the United Nations Human Rights Office of the High Commissioner, said government’s forced eviction of residents from their houses is completely unjustified as it does not have a resettlement plan. 
 
 
 
“The project will not only destroy physical sites but the ways of life that have been developed there, that people cherish and through which they express their dignity and identity,” she said
 

 

 
 
 
 
 

 
 
 
 

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Nawaz Sharif Corruption: The 13 Billion $ dollar scam Effects of LNG

 

 

 

 

Nawaz Sharif Corruption: The 13 Billion $ dollar scam Effects of LNG

 
 

Dr Mubashir Hussain

It appears that the PML-N government is either unwilling or incapable of learning from past errors. The decision to sign a Long Term Sale agreement (LSA) with Qatar is egregious and exposes Pakistan to exactly the same risks that the Benazir government affected when she signed the IPP contracts in 1994 under the advice of USAID, the World Bank and the Asian Development Bank. It seems that the avarice of our rulers remains unchanged.

At that time, in 1994, the price of oil was $18/barrel and the rupee was at 28/$. The agreed price of furnace oil was fixed at Rs5,000/tonne with any escalation as a pass through item giving an electricity unit rate at Rs1.8/unit. By 2007 the price of oil was $120/barrel and the rupee was 100/$, the price of furnace oil increased fifteen fold to Rs75,000/tonne and price of electricity shot to Rs20/unit. As this was unaffordable to most Pakistanis it led to the government subsidising it – resulting in the infamous circular debt and pernicious loadshedding.

By relying on expensive imported fuel, the new LNG deal falls into exactly the same trap. At the agreed price of 13.3 percent of the price of the current price of Brent of $30/barrel, the gas rate works out to be $6/MMBTU. However, if you include all the fuel, port and tolling charges the power rate would be approximately Rs6/unit. But what will happen in a few years or so when, as expected, the price of Brent oil climbs to $100/barrel once the supply and demand for oil is matched (Saudi King Salman is visiting Russia in mid-March to negotiate just that), and the rupee depreciates to 200/$ as may well happen given our rulers predilection for binge borrowing, simultaneously with declining exports. The LNG rate will then be $15/MMBTU and the price of electricity an unaffordable Rs22/unit. But as the LSA is a take or pay we will still be obliged to purchase this unaffordable fuel, just as Wapda was obligated to purchase unaffordable power for oil fired IPPs.

By all accounts there is a gas price war going on. The price of Russian gas in Europe as per the TTF index has declined to an all-time low of $3.3/MMBTU in France and Holland, while the in the US which has been recently allowed export of LNG, the price of gas based on the Henry Hub index is $2/MMBTU (by comparison Pakistan is paying $6/MMBTU for its imported gas).

Even a sophisticated economy like Japan never entered into a Long Sale Agreement for LNG. Instead, it had short-term agreements while it sorted out a long-term energy solution. The PML-N government should have done the same and entered into a three-year agreement or even bought the cargo on the spot market until it sorted out a long-term solution.

 

LNG can only be an interim solution, because in the long run it can never compete with piped gas. LNG costs almost $2.5/MMBTU to liquefy, transport and re-gassify. At current prices these charges are almost as much as the price of the gas itself. That is why American LNG can never compete with Russian gas in Europe. Besides why is there an obsession to install power stations in Punjab when the most suitable location would be nearer the source of the fuel – in this case, Balochistan? Z A Bhutto’s government built the first thermal power station at Guddu, the location closest to Sui with access to cooling water.

 

The LNG Rogues

 

 

 

If the government was hell-bent on relying on imported fuel, then the most viable alternative was the Iran pipeline. Iran has already offered us this gas at $3/MMBTU (although, for sure we could have negotiated an even better deal). As Iran has already built the pipeline to its border, if a power station were installed in Gwadar or Jiwani where there is access to cooling water, the cost per unit of electricity would not have been more than Rs3.8/unit or almost half of what it costs for imported LNG. Iran can only export gas by pipeline through Turkey or Pakistan, and its exports via Turkey compete with cheap Russian gas. Piped gas is not indexed to Brent and therefore its long-term prices can be better managed. The hurry to sign a $15 billion contract for imported LNG with Qatar just as the sanctions on Iran were lifted is perplexing.

Pakistan has a parliament but its members were either not aware of the facts or chose to stay silent. The entire deal raises serious questions. For example, Qatar only agreed to lower its price after an independent supplier Gunvor quoted a lower price. Further, why was the minimum off take increased from 1.5 million mtpa to 3.75 mtpa, burdening our economy even more? This is normally only done when the deal amount and associated commission is fixed, so if the price decreases the off-take increases proportionately.

The government should stop the false propaganda that LNG will save $1 billion per year. This is as cynical as it is untruthful. In fact for 4,000MW of power as compared with Iranian gas, LNG imported from Qatar will cost the country an extra $800 million per year or $13 billion over a fifteen-year period.

As someone wrote, we seem to exist solely to protect entrenched privileges and continue transference of the country’s resources to the global elite. For our citizens we cannot guarantee social progress, security, decent education, access to healthcare, the opportunity for useful employment or a debt-free life.

The writer is a former federal minister. Email: mh1@ lhr.comsats.net.pk

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