Our Announcements
Sorry, but you are looking for something that isn't here.
Posted by admin in Nawaz & Shahbaz Sharif's Business Scams, Nawaz Sharif :Abbaji Da Nikama Puttur.", NAWAZ SHARIF LOAN SCAM, Nawaz Sharif Malcontent, Nawaz Sharif Massive Corruption, NAWAZ SHARIF MUZZLES PRESS, NAWAZ SHARIF SAGA OF ABSOLUTE & CHRONIC CORRUPTION, NAWAZ SHARIF THIEF, Pakistan-A Polaris of Earth, PIA Destruction By Nawaz Sharif, RIGGED ELECTION 2013 on May 21st, 2016
Sharif Family’s Gulf Steel in UAE – Defaulted on Loan from BCCI
Sharif brothers ; Bank loans and Gulf Steel
Gulf Steel Dubai was in debt in early eighties. BCCI people working at that time know that Sharif family sold the factory to partially settle their debts with BCCI and may be other banks. BCCI filed a case against the company, Mian Mohammad Sharif & Shahbaz Sharif to recover the balance of loan. Because of default in payment of amount decreed by court (about AED 6.5M) in favor of BCCI , arrest warrants were issued against older Sharif & Shahbaz. With the help of Ejaz ul Haq , who at that time worked for BOA Bahrain the loan was written off by BCCI and at the request of Mian Sharif to Zia ul Haq, Nawaz Sharif was made finance minister of Punjab.
Nawaz Sharif’s claim that he sold Gulf Steel to buy flats in London is wrong. It is a pack of lies.
Out of 200 Million Pakistanis;how many Pakistanis have such luxurious surrounding.
In early 1990, Shahbaz Sharif and Mian Tariq Shafi ((first cousin & brother-in-law) visited Regional Office of BCCI in Dubai and received two payments of AED 4 M each (total AED 8M) in cash. The amount was booked as loan with interest suspended from day one. Shahbaz used a fake name (Rashid Rahim). The AOF showed address as c/o Middle East Regional Office and no telephone no. According to story circulating in BCCI at that time it was donation for IJI which was established by agencies to bring Nawaz Sharif to power.
When BCCI was closed in July 1991, the liquidator started follow up of the loans at Lahore. The Central Bank auditors had serious objection on these loans because it was given to non-residents with no collateral. Tariq Shafi paid some amount but the liquidator could not recover any amount from Shahbaz Sharif because the loan was in a fake name. The way the loans were given clearly showed that an understanding was given to Sharif family that it would be written off in future.
The Pakistani nation should know that the family is nothing but a bunch of crooks.The above is based on events as related by an ex employee of BCCI Dubai.
© 2024, All Rights Reserved by Pakistan Think Tank.
