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Posted by admin in Our Heroes on May 1st, 2014
Posted by admin in Pakistan-A Nation of Hope on February 18th, 2014
PM Sharif among billionaire lawmakers
In the early eighties, after that Nawaz Sharif had completed his education his father Mian Muhammad Sharif started him in the business. However, this proved a disaster. As a second option Mian Muhammad Sharif set him up with Pakistani actor Saeed Khan Rangeela to get him into acting (something which Nawaz Sharif wanted).
A few days later Saeed Khan Rangeela sent his regrets to Mian Muhammad Sharif saying that his son was too dumb for acting and movie industry. Mian Muhammad Sharif then a cricket coaches to train his son for cricket, but his physical fitness was too low for the sport. It is rumored that by mid-day on his first day at training Nawaz Sharif threw the bat down and left the stadium saying, “This is too tough for me.” As a last resort he paid General Ghulam Jilani Khan a considerable sum of monies to introduce Nawaz Sharif to General Zia-ul-Haq recommending him for a political post, who in turn made Nawaz Sharif the Finance Minister of Punjab. This was the day when the street thugs of Mohni Road had stepped on to becoming the national thugs of Pakistan.
The day Nawaz Sharif had become Finance Minister, the entire family’s earnings were few million rupees and had only one refinery. From there they went on to: Ittefaq Sugar Mills was set up in 1982, Brothers steel in 1983, Brother’s Textile Mills in 1986, Brothers Sugar Mills Ltd in 1986, Ittefaq Textile units in 2-3 in 1987, Khalid Siraj Textile Mills in 1988, Ramzan Buksh Textiles in 1987, Farooq Barkat (pvt) Ltd in 1985. By the time of Zia ul Haq’s fateful plane crash, Mian Muhammad Sharif’s family was earning a net profit of US$ 3 million, up from a few million rupees. By the end of the decade their net assets were worth more than 6 billion rupees, according to their own admission, nearly US$ 350 million at the time. But this turned out to be small-change when Nawaz Sharif became the Prime Minister.
When Nawaz Sharif became prime minister, the group took a decision to secure project loans from the foreign banks and only working capital were taken from the nationalized commercial banks. The project financing from foreign banks was ostensibly secured against the foreign currency deposits, a number of which were held in benamee accounts, as repeatedly claimed by Interior Minister Naseer Ullah Babar at his press conferences. In 1992 Salman Taseer released an account of Nawaz Sharif’s corruption stating that the family had taken loans of up to 12 billion rupees, which were never paid back. On March 2, 1994, Khalid Siraj, a cousin of Nawaz Sharif claimed that the assets of the seven brothers were valued at Rs 21 billion.
These were the accounts of profits and companies which were openly known to public. However, the family kept their side business going all the while ” the gambling dens and heroin control in Lahore ” and along with their industry the side business also mushroomed.
During the Afghan-Soviet War Nawaz Sharif’s cousin Sohail Zia Butt started working under the drug baron Mirza Iqbal Beg, then Pakistan’s second biggest drug lord after Ayub Afridi. Mian Muhammad Sharif and his sons had a permanent share in his gambling and heroin business. In 1990 Suhail Butt won a seat on the Islami Jamhoori Ittehad ticket in the Punjab Assembly. It was through Sohail Butt’s association that Nawaz Sharif became a close associate of Mirza Iqbal Beg. It was through him that Nawaz Sharif became benami owner of many of the privatized government entities, such as Muslim Commercial Bank. Sohail Zia Butt other than getting involved in the drug business made billions in the co-operative societies’ collapse, mainly through the National Industrial Credit and Finance Corporation. It was Nawaz Sharif’s share in his cousin’s drug business which he used to buy off the generals thereby delaying the inevitable dismissal of his government.
In 1995 when Mirza Iqbal Beg was imprisoned, Sohail Zia Butt took over his drug empire. It is at this time that he became one of the biggest drug and crime bosses in Pakistan and was nicknamed the “King of Hera Mandi” and at one time all six underworld gangs of Lahore were working under him.
By 1995 family’s declared annual profits from industrial units had increased 1500% from US$ 30 million to staggering US$ 400 million.
This is the short version of how in mere 15 years small street thugs running gambling dens became leaders of a country running narcotics, underworld and smuggling empires, untouched by everyone.
THE MYSTERY OF RAIWIND PALACE OWNERSHIP
Iftikhar A. Khan and Kalbe Ali
ISLAMABAD: The ownership of the Raiwind palace spread over thousands of acres is a mystery because it has never been mentioned in the statements of assets and liabilities of Prime Minister Nawaz Sharif and other members of his family in politics.
Even latest declarations submitted by Nawaz Sharif, his brother Shahbaz Sharif, son-in-law Captain Mohammad Safdar and nephew Hamza Shahbaz to the Election Commission of Pakistan are silent on the ownership title of the huge property.
But Information Minister Pervez Rasheed told Dawn that the property was in the name of Shamim Sharif, mother of the Sharif brothers.
The statements of assets show that the Sharif brothers have much in common. Both live in houses not owned by them. Nawaz Sharif lives in a house owned by his mother while Shahbaz Sharif resides in a house owned by his spouse Nusrat.
Both use Land Cruisers gifted to them by unspecified persons. Both have multiple foreign and local currency accounts, own huge agricultural land and have investments in industrial units like sugar, textile and paper mills.
The most visible dissimilarity is the rapid growth in the value of assets owned by the elder brother and continuous decline in the value of assets possessed by the younger brother. Another dissimilarity is that Shahbaz Sharif has two properties in the United Kingdom, but Nawaz Sharif has no assets abroad.
Till the time of elections in May last year, Shahbaz was richer than Nawaz — though none of them a billionaire — but things are different now. According to the recent declaration, the value of Nawaz Sharif’s wealth has registered a six-fold increase in just 12 months to make him a billionaire for the first time.
According to statements of assets and liabilities, the net worth of Nawaz Sharif’s assets was Rs261.6 million in 2012 and of Shahbaz Sharif Rs336.9m.
In 2011, the assets of the Sharif brothers were worthRs166m and Rs393m, indicating an increase ofRs95.6m and decrease of Rs56.5m, respectively.
In 2013, the value of assets of Nawaz Sharif ballooned to Rs1.82bn while that of Shahbaz Sharif slipped further to Rs142m.
Incidentally, Shahbaz Sharif has more stakes abroad than in the country.
He owns properties and bank account worthRs138.28m in the UK. He has three loans worth117.10m in Pakistani rupees in British banks.
The younger brother has not disclosed the value of five properties with net area of around 676 kanal in Lahore – all gifted by his mother.
He has Rs51.96m cash in hand and Rs7.27m in his sole bank account in the country. (Editor’s Note: Out of 180 Million Pakistani Civilians & Military, how many can boast such amount as CASH IN HAND)
Mrs Nusrat, the first wife of Mr Shahbaz, had assets worth Rs273.46m on June 30 last year. It wasRs224.56m a year earlier. She has Rs14.34m cash in hand and Rs1.95m in her five bank accounts.
The assets of Mrs Tehmina, the second wife of Shahbaz Sharif, are worth Rs9.83m. They wereRs7.64m last year.
She has five bank accounts – two in Pound Sterling, one in dollar and two in Pak rupees, but the money in these accounts is only Rs23,770. She has cash in hand and prize bonds worth Rs750,000 and two cars.
Kalsoom Nawaz, the wife of Nawaz Sharif, has net wealth of Rs235.85m, which is much less than that ofMrs Nusrat Shahbaz.
Mrs Kalsoom Nawaz has land and a house in Changa Gali, Abbottabad, worth Rs63.75m, a bungalow on Mall Road in Murree worth Rs100m, 88 kanal of land in Sheikhupura worth Rs70m, jewellery of Rs1.5m and shares in family businesses.
She has Rs67,555 cash in hand and Rs55,765 in banks.
Hamza Shahbaz is wealthier than his father with net assets of Rs250.46m. He has two wives. The wealth of his first wife is Rs2.45m and that of the second isRs9.88m.
Posted by admin in Pakistan-A Nation of Hope on February 5th, 2014
appealed to help the overseas Pakistani business man Mr. Sheri Bashir who used to live in USA and Japan regarding his business but originally from Sheikupura.