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‘Chaudhry Sugar Mills received money from Islamabad airport’s contract’

‘Chaudhry Sugar Mills received money from Islamabad airport’s contract’
January 30, 2020
ISLAMABAD (92 News) – Special Assistant on Accountability Shahzad Akbar has said that Chaudhry Sugar Mills is a big corporate fraud used for money laundering and Chaudhry Sugar Mills received money from the contract of new Islamabad Airport. Addressing a press conference, the special assistant said that $15 million loan was taken after making offshore company. Referring to Chaudhry Sugar Mills case, he said that former prime minister Nawaz Sharif showed assets worth Rs 1.3 million when he built the sugar mills and then an offshore company – Chadron Limited, St Hellier Jersey – was formed under which eight more offshore companies functioned. Shahzad Akbar said that the all machinery of the mill was purchased through offshore company. “When the paper work completed than neither machinery nor money was came back. $20 million was sent abroad,” he maintained. The special assistant said that the World Bank has a stock program in which states that the offshore company is the same address as other Panama Papers-based offshore companies. “Ishaq Dar has described in his confessional statement how money laundering was done, first. The loan, which was borrowed for 80 million dollars by Chaudhry Sugar Mill, is the same money that Ishaq Dar sent through hundi,” he added. “Loan of Rs 80 million was taken for the Chaudhry Sugar Mills. Furthmore, Punjab Carpet Company also granted loan worth Rs 65 million to Sharif family. Accounts were opened in Pakistan in the name of Qazi family,” Shahzad Akbar mentioned. “18 million TTs have been sent on the name of Siddiqui Bibi, a Bahraini national woman. The only difference is that the father used the names of the people from abroad and the son used the street vendors.” “The shares were transferred to Nawaz Sharif first and then to Maryam Nawaz. All affairs were supervised by former finance minister Ishaq Dar before Salman Shahbaz. The assets of Chaudhry Sugar Mills are now worth Rs six billion,” the special assistant explained. Shahazad Akbar said that the place where this country stands today is due to external debt. “Everything in Pakistan is governed by rules. Nawaz Sharif has fled to London, when he was in Pakistan, there were reports over time. Now we are tired of demanding reports but everyone is in front of the public. If Nawaz Sharif’s bail does not extend, he will have to return,” he said.