Who Owns Pakistan - Yimg

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These charges were peanuts when viewed in the background of charges of corruption flying agaist the rulers and former rulers today. A chronology of the charges of corruption agaist former and present prime minister gives a measure of progress that Pakistan has made between 1990-97, in respect of corruption and plunder. First Benazir govt was dismissed on August 5, 1990, replaced by a caretaker govt headed by Ghulam Mustatfa Jatoi in which Kamal Azfar was Planning Minister and Zahid Sarfraz, Interior Minister. Like a ritual, the two ministers daily told tales of " royal couple's " corruption over television. In the last chapter we have already discussed a press conference by the federal Interior Minister, Zahid Sarfraz, at which he distributed documents showing that Asif Zardari, Hakim Ali Zardari and three other members of the family had submitted forged documents to borrow Rs 40,000 from the Agricultural Development Bank. In less than a decade and half this borrower of Rs 8,000 from ADBP was to emerge as one the richest man in Pakistan. Four references were filed against Benazir Bhutto, three against Asif Zardari and one against Hakim Ali Zardari. These included: Illegal allotment of Lakeview Hotel to a front man of Asif Ali Zardari. Illegal and irregular allotment of LPG Undue pressure on Habib Bank to sanction a loan for duty free shops to Fauzi Kazim. Award of contract for export of cotton at reduced prices to Releigh Brothers. Three references were filed against Asif Zardari for Use of pressure on Habib Bank Ltd to sanction Rs 70 crore ( 700 million) loan for Fine English Hotel and White and White Hotel Putting pressure on United Bank Ltd to sanction Rs 7 crore ( 70 million) loan to one Ghulam Mustafa Memon Putting pressure on Habib Bank for award of loan to Fauzi Ali Kazim who was reported to have stated in an affidavit that Zardari was holding 49% equity in the project. A reference was filed against Hakim Ali Zardari alleging that he had received Rs 24 lakh from Pakistan State Oil (PSO) for renting out 1000 yards of land that did not belong to him. 131
In November 1990, Nawaz Sharif came into power and now, it was Benazir's turn to pay him in the same currency, accusing him of taking kickbacks in Lahore- Islamabad Motorways and Yellow Cab Scheme, selling family silver at throwaway prices, extracting huge loans from the nationalized banks to build the House of Ittefaq. Her harshest condemnation of government came in a well documented publication. The Plunder of Pakistan, which accused Nawaz Sharif of being responsible for the collapse of the cooperatives, manipulation of custom duties on iron scrap and several other irregularities. A "gang of four" comprising of the Nawaz Sharif family, Chaudris, Basharat Elahi (Brother-in-law of Zia ul Haq) and Saifullah was accused of milking the banks and financial institutions. A sustained compaign by Benazir against corruption of Nawaz Sharif, supplemented by independent reports in the press, provided the ammunition to President Ghulam Ishaq Khan to fire Nawaz Sharif and install a caretaker govt headed by Balkh Sher Mazari. Zahid Sarfraz was again there as chairman of an accountability committee. " Never in the political history of Pakistan and for that matter, in the history of entire world, a prime minister and his family has manipulated and devised policies to suit their personal business interests, as the deposed Prime Minister Nawaz Sharif did. Even a cursory probe into economic, fiscal and taxation policies of past govt reveals that its recurring single point agenda was to find ways and means to grab money and accumulate wealth", he declared at a press conference. The charges against Nawaz Sharif as tax evader and loan shark continued during three years of second Benazir govt and Nawaz Sharif claimed that 150 cases of corruption and irregularities were instituted against him and his family members. None was proved. It was alleged that Nawaz Sharif was evading taxes, caused a loss of Rs 2 billion in Lahore Development Authority (LDA) in allotment of plots, that he spent Rs 200 million from Baitulmal, Rs 845 million from Tameer-e-Watan program and the rural electrification program. But why is it that no single politician and bureaucrat has been convicted despite so clear circumstantial evidence against them. Is it because of brotherhood among thieves or because you can not set a thief to catch a thief? A plausible answer was provided by Chief Ehtasab Commissioner Mujadad Mirza at a press conference on December 17, 1996, convened to discount the impression that his office was slow in processing cases of corruption. Mirza said his office was reluctant to make public details of several cases of corruption because those involved in the cases might " destroy the evidence and win over the witnesses". This is exactly what has happened in most of corruption cases filed against previous rulers. 132
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Who Owns Pakistan By Shahid-ur-Rahm
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G: UBL Privatization Bid ..........
Page 6 and 7:
Pakistan's Robber Barons ..........
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A Brief introduction - For those wh
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Prologue "I Nawaz Sharif, do solemn
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Nawaz Sharif was not an individual.
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A white paper on " Economy under Bh
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The first Nawaz government was foll
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Another remarkable person mentioned
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Dawood lost Karnaphuli Paper Mills,
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disprove that bulk of the banking a
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perpetuated their control over the
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Kohat Cement, Dandot Cement and Tha
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Earlier in this chapter, we have li
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Insurance companies of 22 families
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Born in Rangoon, M A Rangoonwala ha
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Crescent was a joint venture of fou
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Privatization - Turning the Clock B
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day Privatization Conference in Isl
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Independant Resource Group (IRG) of
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companies, management was to be tra
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Accelerated privatization under a f
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Finance Minister took a conscious d
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clauses and buyers have committed b
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22nd May, 1989 suggested a strategy
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Pakistan Petroleum Limited (PPL) to
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group but thanks largely to the ala
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caretaker govt. to recover Rs 1,500
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Pakistan, had incorporated Muslim C
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Cement for Rs 137 million and Rs 18
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5-star hotel. Bhutto who had planne
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For example, PSL is being managed b
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According to the Khalid Anwar, Burm
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also been assigned to the shelves o
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32 Harijanss 61 - 61 33 Shafi 60.2
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21 Sargodha 2,743 -- 22 Al-Noor 2,5
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had opened their offices in Japan,
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East, REDCO Textile Mills and Const
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4 billion and a roaster of impressi
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The geographic location of the comp
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Haroon's great grandfather had migr
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Gujrati and tended to be organised
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9 Karim 3 10 Hasham 2 11 Latif Jama
Page 88 and 89: At present, the Kaiser Monnoo group
Page 90 and 91: Sugar Mills and Samundri Sugar Mill
Page 92 and 93: " The days immediately after nation
Page 94 and 95: fortunes which were multiplied, in
Page 96 and 97: the pioneer Muslim industrialist in
Page 98 and 99: According to Lawrence White, top se
Page 100 and 101: Beginning of Bad Loans Bhutto's nat
Page 102 and 103: Jang, Rawalpindi of December 14, 19
Page 104 and 105: 8 Saigol 1,086 9 Naqvi 1,056 10 Zah
Page 106 and 107: 10, 1997, the Supreme Court observe
Page 108 and 109: Prime Minister Nawaz Sharif will gl
Page 110 and 111: specific tax holidays. It was not c
Page 112 and 113: This decision is based on personal
Page 114 and 115: oil". It is not difficult from the
Page 116 and 117: In the fiscal year 1991-92, Messers
Page 118 and 119: 21 Hussain Nawaz Sharif 3,285,6813
Page 120 and 121: The voiceless small investors have
Page 122 and 123: Chapter Four - Pakistan's Tax Web P
Page 124 and 125: 28. Ushr 29. Oilseeds Development C
Page 126 and 127: political heavyweights or their hen
Page 128 and 129: Export Duties It is one of the most
Page 130 and 131: Capital Gain Tax As is evident from
Page 132 and 133: Law Authority will soon seek public
Page 134 and 135: Chapter 5 - Money and Politics Elec
Page 136 and 137: Some of the known units of Saifulla
Page 140 and 141: In the references about Lakeview Ho
Page 142 and 143: Epilogue For several years, the peo
Page 144 and 145: One wonders how a government that c
Page 146 and 147: accustomed to buying his casual out
Page 148 and 149: 141
Page 150 and 151: chemicals, synthetic fibres, cookin
Page 152 and 153: Iqbal Saigol S. No Name Assets Turn
Page 154 and 155: In a communication to the author in
Page 156 and 157: Dewan Listed Companies S. NO Names
Page 158 and 159: conference in Islamabad, on March 2
Page 160 and 161: Listed Companies S. No Company Asse
Page 162 and 163: when the Rserve Bank of India faile
Page 164 and 165: 10. Noble Computer Services (pvt) L
Page 166 and 167: Syed Maratib Ali was a well known n
Page 168 and 169: Unlisted Companies 1. Clearance and
Page 170 and 171: Akbar Hashwani 1. Hashwani Construc
Page 172 and 173: Dawood Cotton Mills was set up in 1
Page 174 and 175: 5. Margalla Textile 6. Rawal Textil
Page 176 and 177: Lakhani (Lakson) Lakhanis have grow
Page 178 and 179: 6 Husein Sugar 358 560 7 Shadman Te
Page 180 and 181: Unlisted Companies 1. Ibrahim Agenc
Page 182 and 183: 4 B F Modaraba 16 16 5 Bawany Air 5
Page 184 and 185: Financial Assets 5 Schon Bank 1,994
Page 186 and 187: Mian Mohammad Ismaeel Sheikh was a
Page 188 and 189:
1 Mubarik Textiles 346 119 2 Fatima
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1 K S B Pumps 343 385 2 Adamjee Pap
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Independently his group has four co
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Bibliography 1. 50 years presentati
Page 196 and 197:
63. The sick industary therapy, art
Page 198:
29. Hotelier in Pakistan looks for
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