Sharifs acquitted in Ittefaq Foundries case

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A Rawalpindi accountability court on Thursday acquitted Prime Minister Nawaz Sharif and Punjab Chief Minister Shahbaz Sharif in the Ittefaq Foundries case.

Rejecting a 2011 application filed by the National Accountability Bureau (NAB) for the reopening of investigation into the Ittefaq Foundries case, Accountability Judge Sohail Nasir acquitted Nawaz Sharif, his younger brother Shahbaz Sharif, Shamim Akhtar, Kulsoom Nawaz, the late Abbas Sharif and Ittefaq Foundries’ directors in the case.

According to a reference filed by NAB in 2014, Ittefaq Foundries and its then directors —Nawaz Sharif, Shahbaz Sharif, Mian Javed Shafi, Mian Yousuf Aziz, Mian Tariq Shafi and others — were guilty of wilful default to the National Bank of Pakistan to the tune of over Rs 1 billion since 1994.

In Dec 2014, Justice Shahzada Mazhar of the Lahore High Court disposed of an 18-year-old petition filed by the National Bank of Pakistan for the recovery of loans from Ittefaq Foundries. An executive vice president of the bank told the judge on Dec 9, 2014 that the company had cleared all loans.

2 COMMENTS

  1. Spate of re-opening of Nawaz and Zardari cases is just to OBTAIN clean chits "while the sun shines". These courts are acting as just laundries for these two crooks.

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