–Information minister blames PPP and PML-N’s ‘corrupt practices’ for poor economy, inflation
–Says Zardari extended network of fake accounts to launder looted wealth
ISLAMABAD: As Pakistan grapples with inflation and a tattered economy, Information Minister Fawad Chaudhry on Sunday blamed “corruption” done by the Pakistan Muslim League-Nawaz (PML-N) and Pakistan People’s Party governments in past for all the ills of the country.
“The corruption has led to inflation, falling exchange rate of Pakistani rupee, and all sorts of issues faced by Pakistanis abroad,” Fawad Chaudhary said while addressing a detailed presser on how corruption by these two parties led by Sharifs and Bhutto dynasties destroyed the country.
He was flanked by Minister of State for Revenue Hammad Azhar and Special Assistant to Prime Minister on Accountability Shahzad Akbar in Islamabad.
The information minister alleged that if there was one family that had marked the beginning of modern-day corruption in Pakistan, it was the Sharif family.
The Sharifs introduced the Economic Reform Act in 1992 to keep the source of capital hidden, claimed Fawad, adding former finance minister Ishaq Dar introduced money laundering in the country.
“In 1996-97 and then 1997-98, the authorities noticed a very suspicious transaction and found that the company behind it was Hudaibiya Papers Mill, which had a total value of Rs95 million. All of a sudden Rs810m worth of foreign remittances were credited to the company’s accounts.”
As a result of an investigation, it was found out Hudaibiya Paper Mills was owned by Mian Mohammad Sharif, claimed the information minister.
He claimed when probed more it was revealed that Ishaq Dar was hired to launder money, who introduced a novel method to transfer money — fake accounts.
“$26 million were transferred into the Sharif family accounts from unknown sources through telegraphic transfer (TT),” said Fawad Chaudhry, adding that the family of former Punjab chief minister accumulated most of its assets using TT, which he maintained was one of the methods used for money laundering.
The information minister claimed Shehbaz Sharif’s family did not have any known source of income in the country except Shehbaz’s salary while he was serving as the Punjab chief minister.
“All of this was described by Dar under oath to a magistrate in 2008, in a confession which outlined each and every detail,” said Fawad.
“The period after that is before you. Then president Pervez Musharraf’s investigation could not continue and the Sharifs were given an NRO,” the information minister continued.
“Now why I want to talk about Hudaibiya is because all subsequent cases of corruption followed the exact same scheme. Hill Metal Establishment followed the same method as in Hudaibiya Paper Mills,” he said.
ZARDARI AND FAKE ACCOUNTS:
The minister also took digs at PPP co-chief Asif Ali Zardari for his alleged role in setting up fake bank accounts across the country to launder his ill-gotten wealth.
Fawad alleged an entire network was created in Sindh where fake accounts were created and then money was transferred to people “such as the man who sold falooda in Faisalabad and saw millions of rupees transferred to his account”.
“When an investigation began into those accounts, FIA unearthed the involvement of around 5000 accounts of which 32 accounts were the main accounts which branched out to the others,” he said.
“Everything was traced to these accounts: payment for Bilawal Bhutto’s aircraft expenditures, for Ayyan Ali’s tickets, and for the expenditures of Bilawal House. Moreover, Bakhtawar [Bhutto]’s birthday expenses were also paid through these accounts,” he alleged.
To a query, Fawad said Prime Minister Imran Khan was committed to rid the country of the menace of corruption and he was supported by the whole nation in this task. “It is difficult in any country to bring influential personalities to book,” he said.
‘FAKE COMPANIES IN DUBAI’
Speaking on the occasion, the special assistant to the prime minister on accountability claimed fake companies were set up in Dubai to launder money.
He said members of the Sharif family were unable to satisfy the National Accountability Bureau (NAB) regarding the corruption. He said nation wanted that accountability process reaches to its logical conclusion and the government was committed to bring back the looted money.
He advised NAB to improve its prosecution as “some suspects were [still] getting pre-arrest bail despite plethora of evidence against them”.
On Saturday, Fawad, while referring to the bails given to the Sharif family and top PPP leadership, said PTI leader Aleem Khan should be granted bail if those who looted billions and caused losses to the national exchequer can have their bails approved easily.
His statement didn’t go down well with NAB, which issued a statement alleging that the minister was trying to influence NAB probes.
Meanwhile, Minister of State for Revenue Hammad Azhar said Ishaq Dar was giving his opinion on current economic situation based on assumptions. “No independent economist has endorsed the policies of Ishaq Dar,” he said.