The Sharif family has paid five billion, 220 million and 80 hundred thousand rupees in December 2014 under the head of all loans, markup, cost of fund and other charges payable by Ittefaq Foundry and a consortium of banks has also issued clearance certificate in this regard, said Punjab Chief Minister Shahbaz Sharif while addressing a press conference regarding news items published in newspaper about the loans of Ittefaq Group on Wednesday.
He said that there is no such example of a big settlement in the banking history of Pakistan where besides capital, markup of 17 years, cost of fund and other charges are paid. He said that Sharif family has not usurped the loans rather paid every penny of banks upon which we are proud.
“The news published regarding reference sent by NAB to the Supreme Court about the loans of Ittefaq Group, are lamentable,” he added.
He said that on the other hand during the former dictator Musharraf’s tenure loans of trillions of rupees of the poor nation were waived off through a government communiqué in October 2002 which is serious crime.
He said that under SRO-29 Musharraf got waived off loans of his favorites who had to contest election.
He expressed these views while addressing a press conference regarding news published in newspaper about the loans of Ittefaq Group, here today. The Chief Minister said that on January 2, 1972, Zulfiqar Ali Bhutto, the then Prime Minister nationalized Ittefaq Foundaries 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 Foundaries were again handed over to our family and they ran it by working round the clock. Shahbaz Sharif said that during the era of Benazir Bhutto government again started vindictive action against Ittefaq Foundaries and closed them. He said that the Jonathan ship remained standing 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 atomic blasts and he announced in his speech that Ittefaq Foundaries have been ruined through vindictive actions, however, Sharif Family will repay every penny. He said that in the beginning of 1999 or at the end of 1998, all assets of Ittefaq Foundaries were handed over to the banks. The Chief Minister said that Musharraf through a vindictive action got prepared a reference against Ittefaq Foundaries which remained in the court and had there been any reality in it, it would have been decided but Musharraf filed the case of hijacking against us and forcibly sent us to exile.
Shahbaz Sharif 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 Foundaries were paid and not a single penny of loans was got waived off. He said that the total amount comes to five billion, 22 crore and 80 lakh rupees and all matters were settled transparently which is a matter of pride for our family. The Chief Minister said that there is no example of such a big settlement in a transparent manner in the history of the country. He said that we paid every penny and banks issued us clearance certificate. 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. He said that we can claim humbly that throughout our political and business life we never got waived off single penny of any public or private bank and whether such claims can be made by those other politicians who criticize PML-N and its leadership, he questioned. He said that unfortunately loans were waived off in the history of Pakistan and there are a big list of those taking concession in payments but thanks God there is no name of Sharif family in it.
