Punjab Chief Minister Shahbaz Sharif has said that the Sharif family has paid Rs 5,22,80,000,00 in December 2014 under the head of all loans, mark-up, cost of fund and other charges payable by Ittefaq Foundries and a consortium of banks has also issued a clearance certificate in this regard. He said that there is no such example of a big settlement in the banking history of Pakistan where besides capital, a mark-up of 17 years, cost of fund and other charges are paid.
He said that the Sharif family has not usurped loans, rather it paid every penny of banks. The Chief Minister said that the news published in the newspapers regarding reference sent by NAB to Supreme Court about the loans of Ittefaq Group, are lamentable. On the other hand, during the Musharraf tenure loans of trillions of rupees were waived off through a government communiqué in October 2002 which is a serious crime. He said that under SRO 29 Musharraf got waived off loans of his favourites who had to contest election.
He expressed these views while addressing a press conference regarding a news published in newspapers about the loans of Ittefaq Group, here yesterday. The Chief Minister said that on January 2, 1972, Zulfiqar Ali Bhutto, the then Prime Minister, nationalised Ittefaq Foundries without paying any compensation "but our elders set up six more factories in this city through hard work within 18 months." He said that on July 16, 1979, ruined Ittefaq Foundries were again handed over to his family and they ran it by working round-the-clock. Shahbaz Sharif said that during the era of the Benazir Bhutto government again started a vindictive action against Ittefaq Foundries and closed them. He said that the Jonathan ship remained stranded at Karachi port with goods for one year. He said that on May 28, 1998, Prime Minister Nawaz Sharif made Pakistan a nuclear power through conducting nuclear blasts and he announced in his speech that Ittefaq Foundries have been ruined through vindictive actions, however, the Sharif family will repay every penny. He said that in the beginning of 1999 or at the end of 1998, all assets of Ittefaq Foundries were handed over to banks.
The Chief Minister said that Musharraf through a vindictive action got prepared a reference against Ittefaq Foundries which remained in the court and had there been any reality in it, it would have been decided but Musharraf filed the case of plane hijacking against them and forcibly sent them to exile. Shahbaz said that he can proudly say that Prime Minister Nawaz Sharif fulfilled the promise made with the nation. He said that all loans against Ittefaq Foundries were paid and not a single penny of loans was waived off.
He said that the total amount comes to five billion, 22 crore and 80 lakh rupees and all matters were settled in a transparent manner. The Chief Minister said that there is no example of such a big settlement in a transparent manner in the history of Pakistan.
He said that in view of these facts, the news published in the newspapers are baseless. He appealed to the media to bring the facts before the people. Shahbaz Sharif said that he has already said that it was baseless reference which was dismissed by Lahore High Court in its decision. The Chief Minister made it clear that when any settlement of loans is made with the banks, the loanee party demands concession and it is requested that mark-up should be waived off or exempted from the cost of fund. He said that it was their right to make such request but they did not use this right.
He said that on December 23, 2014 Lahore High Court said in its decision that the committee constituted by the court had confirmed that Ittefaq Group have paid all outstanding amounts to banks. He said that a division bench of Lahore High Court in Hudabiya Paper Mill reference has dismissed a year ago by declaring it illegal. He said that High Court has made it clear in its decision that this reference was based on malafide intentions and had been filed for political objectives without any proof.
The money of the nation should be retrieved from those who got loans waived off on political grounds, he added. Replying to a question, Shahbaz Sharif said that during Musharraf era, the rulers of Punjab committed dacoity on the reserves of Pakistan in Chiniot as the contract of exploring reserve of iron ore was given to a fake company. High Court ordered the NAB to take action against it but NAB wrote that the work had not been started, therefore, action cannot be taken which was serious joke with the nation. Replying to a question with regard to Accountability Commission, Shahbaz Sharif underscored the need for "ruthless accountability." Replying to a question, he said that a 'soft revolution' is essential to stop the way of bloody revolution.
Replying to a question about Raiwind Road, Shahbaz Sharif said that thousands of kilometres roads were constructed in Punjab out of which every road led to the houses of Minister or politician, general, judge or any senior government official. He said that an inquiry of this road was conducted during Musharraf's but no one could muster courage to send a reference to the court as this road does not lead to inside the farm but on both side of this road there are localities, welfare institutions, a medical college, a law college, a technical college, a hospital and a school.
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