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Archive for category Asif Zardari Crook Par Excellance

PAKISTAN THINK TANK INVESTIGATION EXPOSING THE RATS: PAKISTAN’S STATE BANK LOAN DEFAULTERS LIST: NO.1 DEFAULTER: EURO GULF ENTERPRISES

HOW TO STEAL BILLIONS OF DOLLARS IN PAKISTAN

PAKISTAN THINK TANK INVESTIGATION EXPOSING THE RATS: PAKISTAN’S STATE BANK LOAN DEFAULTERS LIST:

NO.1 DEFAULTER: EURO GULF ENTERPRISES,SHARIF BROTHERS MAJOR DEFAULTERS

 

 

Unknown-9

 

 

 

 

 

 

 

 

 

 

UPDATE

After Pakistan Think Tank Investigative Reports Publication Many of these companies changed names and morphed under different titles.But, the key characters like Younus Habib,Sharif Bros, Tawakkal Group still do business in Pakistan.Euroguld Enterprises owners have either absconded or in hiding or protected by Asif Zardari and Nawaz Sharif/

 

 

 

PAKISTAN THINK TANK INVESTIGATION EXPOSING THE RATS: PAKISTAN’S STATE BANK LOAN DEFAULTERS LIST: NO.1 DEFAULTER: EURO GULF ENTERPRISES 

Here is the URL of their company:

 

http://www.egpipes.com/contact.php

 

If Pakistanis have concrete proof of other defaulters, no on this list, we will publish it for all the world to see. Your Privacy will be protected, your name and location will not be exposed.

 

Please e-mail to:

[email protected]

 

 

(Report by Daily Jang, 21.10.2010)


The State Bank of Pakistan presented a list of loan defaulters before the Supreme Court on Wednesday October 20, 2010.

Defaulter Company Rs. in mil.
Eurogulf Enterprises  5.342.55
Younus Habib  2.476.40
West Pakistan Tank Terminal 1.977.38
Mercury Garments Industries  1.565.89
Siraj Steels Ltd Muridke 1.412.66
Spinning Machinery Co 1.387.60
Saad Cement Ltd Karachi 1.265.97
Pakistan National Textile  1.166.45
Mehr Dastagir Spinning Mills  1.160.50
Karachi Property Investment  1.003.19
Mohib Textile Mills  1.117.49
Redco Textiles Ltd  1.116.77
Chaudhry Cables  1.050.58
Abdullah S Al Rajhiest  1.031.90
Quality Steel Works  981.60
Mekran Fisheries  960.12
Kohinoor Looms  945.41
AH International Private Limited  901.21
Coral Cast Ltd  900.92
Aziz Spinning  864.95
Rashi Testile Mills  859.17
Farooq Habib Textile  827.15
Northern Polythene  825.59
Firdous Spinning Mills  780.14
Muhammad Ibrahim Murad  748.15
Metropolitan Steel  747.67
Tristar Polyester Ltd  737.02
Bindder Insad Tourism  734.44
Commodore Industries  722.76
Target Readymade Garments  696.46
Balochistan Foundary Ltd  663.54
Tawakkal Group of Industries 642.22
First Tawakal Muzarba  628.65
Synthetic Leather Industries  620.56
Nabchoon Garments Factory  597.52
Golden Textile Mills  589.72
Mian Muhammad Sugar Mills (Owners

Sharif Brothers

584.90
Saadi Cement  584.11
Service Fabrics Ltd  571.23
Punjab Cooperative Board for Liquidation 538.23
Glamour Textile Mills  533.88
Punjab Road Transport Corporation  524.15
Ravi Agri Dairy Products 509.73
Pakistan Concrete  477.70
Pakpattan Dairies  467.12
AlJamia & Alquasi Trading  462.67
Fabri Tex Limited  454.32
Apparel Trading Establishment  454.00
Adamjee Industries  448.84







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Baat to such hai Per baat hai ruswai ki

Baat to such hai                                                                                       Per baat hai  ruswai ki
مہر عباسی کا حکمرانوں کے منہ پر طمانچہ۔۔۔

‫مہر عباسی کا حکمرانوں کے منہ پر طمانچہ۔۔۔مہر عباسی کا حکمرانوں کے منہ پر طمانچہ۔۔۔ یہ ویڈیو دیکھن…
APOLOGIES FOR QUALITY OF POSTING:DONE AS RECEIVED

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Zardari’s & Nawaz Sharif’s Corruption highlighted in Raymond Baker’s book on Dirty Money

Zardari’s & Nawaz Sharif’s Corruption highlighted in Raymond Baker’s book on Dirty Money

Raymond Baker in his book Capitalism’s Achilles Heel: Dirty Money and How to Renew the Free-Market System tried to understand the dynamics of how dirty money works, in his book he elaborately covers the Corruption in Pakistan and takes a swing at both Benazir Bhutto & Nawaz Sharif to say [Credit @Aleem_Ashraf]
Corruption and criminality run from the top down, with the political class constantly looting the national treasury and distorting economic policy for personal gain. Bank loans are granted largely on the basis of status and connections. The rich stash much of their money abroad in those willing western coffers, while exhibiting little inclination to repay their rupee borrowings. Pakistan’s recent history has been dominated by two families—the Bhuttos and the Sharifs—both merely tolerated by the military, the real power in the country. When it comes to economic destruction, there’s not a lot of difference among the three.
Pages 82-85 of the book cover the section on Nawaz Sharif: 
Nawaz Sharif became a director and cultivated relations with senior military officers. This led to his appointment as finance minister of Punjab and then election as chief minister of this most populous province in 1985.
While Benazir Bhutto hated the generals for executing her father, Nawaz Sharif early on figured out that they held the real power in Pakistan. His father had established a foundry in 1939 and, together with six brothers, had struggled for years only to see their business nationalized by Ali Bhutto’s regime in 1972. This sealed decades of enmity between the Bhuttos and the Sharifs. Following the military coup and General Zia’s assumption of power, the business—Ittefaq—was returned to family hands in 1980.  During the 1980s and early 1990s, given Sharif ’s political control of Punjab and eventual prime ministership of the country, Ittefaq Industries grew from its original single foundry into 30 businesses producing steel, sugar, paper, and textiles, with combined revenues of $400 million, making it one of the biggest private conglomerates in the nation. As in many other countries, when you control the political realm, you can get anything you want in the economic realm.
With Lahore, the capital of Punjab, serving as the seat of the family’s power, one of the first things Sharif did upon becoming prime minister in 1990 was build his long-dreamed-of superhighway from there to the capital,Islamabad. Estimated to cost 8.5 billion rupees, the project went through two biddings. Daewoo of Korea, strengthening its proposals with midnight meetings, was the highest bidder both times, so obviously it won the contract and delivered the job at well over 20 billion rupees.
A new highway needs new cars. Sharif authorized importation of 50,000 vehicles duty free, reportedly costing the government $700 million in lost customs duties. Banks were forced to make loans for vehicle purchases to would-be taxi cab drivers upon receipt of a 10 percent deposit. Borrowers got their “Nawaz Sharif cabs,” and some 60 percent of them promptly defaultedThis left the banks with $500 million or so in unpaid loans. Vehicle dealers reportedly made a killing and expressed their appreciation in expected ways. Under Sharif, unpaid bank loans and massive tax evasion remained the favorite ways to get rich. Upon his loss of power the usurping government published a list of 322 of the largest loan defaulters, representing almost $3 billion out of $4 billion owed to banks. Sharif and his family were tagged for $60 million. The Ittefaq Group went bankrupt in 1993 when Sharif lost his premiership the first time. By then only three units in the group were operational, and loan defaults of the remaining companies totaled some 5.7 billion rupees, more than $100 million.
Like Bhutto, offshore companies have been linked to Sharif, three in the British Virgin Islands by the names of Nescoll, Nielson, and Shamrock and another in the Channel Islands known as Chandron Jersey Pvt. Ltd. Some of these entities allegedly were used to facilitate purchase of four rather grand flats on Park Lane in London, at various times occupied by Sharif family members. Reportedly, payment transfers 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 Bhutto had Pakistan’s Federal Investigating Agency begin a probe into the financial affairs of Nawaz Sharif and his family. The probe was headed by Rehman Malik, deputy director general of the agency. Malik had fortified his reputation earlier by aiding in the arrest of Ramzi Yousef, mastermind of the 1993 World Trade Center bombing. During Sharif ’s second term, the draft report of the investigation was suppressed, Malik was jailed for a year, and later reportedly survived an assassination attempt, after which he fled to London. The Malik report, five years in the making, was released in 1998, with explosive revelations:
The records, including government documents, signed affidavits from Pakistani officials, bank files and property records, detail deals that Mr. Malik says benefited Mr. Sharif, his family and his political associates:
  • At least $160 million pocketed from a contract to build a highway from Lahore, his home town, to Islamabad, the nation’s capital.
  • At least $140 million in unsecured loans from Pakistan’s state banks.
  • More than $60 million generated from government rebates on sugar exported by mills controlled by Mr. Sharif and his business associates.
  • At least $58 million skimmed from inflated prices paid for imported wheat from the United States and Canada. In the wheat deal, Mr. Sharif ’s government paid prices far above market value to a private company owned by a close associate of his in Washington, the records show. Falsely inflated invoices for the wheat generated tens of millions of dollars in cash.
The report went on to state that “The extent and magnitude of this corruption is so staggering that it has put the very integrity of the country at stake.” In an interview, Malik added: “No other leader of Pakistan has taken that much money from the banks. There is no rule of law in Pakistan. It doesn’t exist.”
What brought Sharif down in his second term was his attempt to acquire virtually dictatorial powers. In 1997 he rammed a bill through his compliant parliament requiring legislators to vote as their party leaders directed. In 1998 he introduced a bill to impose Sharia law (Muslim religious law) across Pakistan, with himself empowered to issue unilateral directives in the name of Islam. In 1999 he sought to sideline the army by replacing Chief of Staff Pervez Musharraf with a more pliable crony. He forgot the lessons he had learned in the 1980s: The army controls Pakistan and politicians are a nuisance. As Musharraf was returning from Sri Lanka, Sharif tried to sack him in midair and deny the Pakistan International Airways flight with 200 civilians on board landing rights in Karachi. Musharraf radioed from the aircraft through Dubai to his commander in Karachi, ordering him to seize the airport control tower, accomplished as the plane descended almost out of fuel. Musharraf turned the tables and completed his coup, and Sharif was jailed.

But Sharif had little to fear. This, after all, is Pakistan. Musharraf needed to consolidate his power with the generals, and Sharif knew details about the corruption of most of the brass. Obviously, it is better to tread lightly around the edges of your peer group’s own thievery. So Musharraf had Sharif probed, tried, convicted, and sentenced to life in prison, but then in 2000 exiled him to Saudi Arabia. Twenty-two containers of carpets and furniture followed, and, of course, his foreign accounts remained mostly intact. Ensconced in a glittering palace in Jeddah, he is described as looking “corpulent” amidst “opulent” surroundings. Reportedly, he and Benazir Bhutto even have an occasional telephone conversation, perhaps together lamenting how unfair life has become.

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Nawaz Sharif & Son Hussain Nawaz Are billionaires

Nawaz Sharif Son is a Billionaire by UNewsTv

Pak PM Nawaz Sharif is a billionaire

According to the declaration filed by Sharif, he owns six agriculture properties with over 1,700 canals worth Rs1.43 billion and a house in Upper Mall, Lahore valued at Rs 250m.
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ISLAMABAD: Pakistani Prime Minister Nawaz Sharif is among the few parliamentarians who are billionaires, revealed statements of assets and liabilities of lawmakers for the year 2012-13 issued by the Election Commission of Pakistan (ECP). According to the declaration filed by Sharif, he owns six agriculture properties with over 1,700 canals worth Rs1.43 billion and a house in Upper Mall, Lahore valued at Rs 250m. The statement said that he has made investments of over Rs 13 million and has Rs 126 million in seven bank accounts. He has received Rs 197.4m in remittances from his son Hussain Nawaz as well. He owns a Toyota Land Cruiser (2010 model) as well as the 1973 and 1991 models of Mercedes Benz. The premier also owns a 1991 model tractor. His wife Kulsoom Nawaz owns a bungalow worth Rs100m. She owes Rs1.75m to two people. The other billionaires in the National Assembly are petroleum minister Shahid Khaqan Abbasi and three members from Khyber Pakhtunkhwa province – Khial Zaman, Raja Amir Zaman and Sajid Hussain Turi. The former speaker of National Assembly Fehmida Mirza declared property worth Rs 40 million. In the declaration, she priced her apartment at Global Lake View, Dubai, at Rs 1.6 million ($16000) which is being seen as an exceedingly low price. Independent Member of National Assembly Jamshed Dasti was declared the poorest parliamentarian with no assets apart from his salary. He did not fill his asset-declaration form and had informed the ECP of an account in a bank in the parliament house. He did not even show any cash in the account. The net assets of Imran Khan, chairman of Pakistan Tehreek-i-Insaf party, amounted to Rs29.6 million this year. Out of the 14 different properties he owned in Pakistan, he inherited eight while two were gifted. Khan has a Toyota Prado having estimated value of Rs 5 million. He also has Rs 13.6 million in a bank. Maulana Fazalur Rehman, chief of Jamiat Ulema-e-Islam party, declared his assets worth Rs6.5 million. He did not declare possession or ownership of any vehicle despite using SUVs for last many years.

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The Apathy in Pakistan to Support Reform

The Apathy in Pakistan to Support Reform

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I am appalled.

 I am appalled at the apathy of Pakistani society in not supporting for once what is clearly ( in my lifetime at least ) the most serious and deep rooted attempt at reform.

 I am appalled at the pretentiousness of many otherwise perfectly logical and sane people, for not supporting this serious attempt to get rid of this terrible putrid sewerage system of so called democracy, so cunningly labeled by these sick self-serving so called politicians to safeguard their golden geese.

 These politicians who have destroyed all semblance of good order and governance, simply because of this label of so called democracy. Look at these names who have been in political power in one form or shape or the other, be it a civilian or military administration.

 Look at this horrible horrible roll call of political deviants. Nawaz Sharif, Shahbaz Sharif, Ishaq Dar, Saad Rafique, Asif Zardari, Khurshid Shah, Fazlur Rehman, Asfandyar Wali. An endless list of self serving, corrupt to the core, people.

 While some may criticize IK and TUQ for resorting to “undemocratic” methods. Here’s something to ponder. What choice do IK and TUQ and and people like us have.  

 We can’t boot the Nawaz Sharifs and Asif Zardaris out through the electoral process because they have “bought” the entire process.

 We can’t take them to court, because they have “bought” the entire judicial system.

 We can’t hold them for any form of major administrative impropriety, terrible misgovernance, gross and blatant use of authority in public sector leadership appointments, misuse of public funds, open corruption, brazen conflict of interest, just because they have “bought” the entire administrative structure.

 So IK and TUQ and people who want reform had and have no option but to resort to what they have done. Because, while theoretically we have a parliament and an elected government and there is due process for acquiring power, the system has been hijacked and held hostage by these “professional crooks” masquerading as political leaders.

 Look at Khurshid Shah thundering in parliament, earlier today and look at the sickening amount of ill gotten wealth he has acquired through corruption since 1991 when he was first elected as am MNA. Can anyone justify this terrible and blatant hypocrisy and criminality.

 While some may not like IK’s arrogance ( I do) or TUQ’s Canadian citizen ship ( irrelevant) or their perceived lack of political acumen. BUT If these two can set in motion the wheels of change for a better, prosperous Pakistan with strong institutions, especially the Police and the Judiciary, an electoral process which does not hand over power to a bunch of professional crooks with just 10 to 15 % of the registered vote, a system of political accountability which does not allow people in power to blatantly and brazenly misuse authority and public trust and public funds, and a country where no one Faith is imposed on another, I am all for it.

 And for those professional politicians with IK ( not many with TUQ) who think that they will benefit once again from the ‘IK” bandwagon, as they have done on other bandwagons in the past…I think they are in for a surprise!

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