Economic Reform Act introduced to keep source of capital hidden: Fawad

ISLAMABAD (92 News) – Minister for Information Fawad Chaudhry said on Sunday that Sharif family introduced Economic Reform Act in 1992 to keep the source of capital hidden. Addressing a news conference along with Minister of State for Revenue Hammad Azhar and Special Assistant to Prime Minister on Accountability Shahzad Akbar, the minister has expressed hope that looted money of corrupt politicians will be brought back from abroad. Fawad said that the corruption has led to inflation, falling exchange rate of Pakistan rupee, and all sorts of issues faced by Pakistanis abroad. He said Sharif family introduced Economic Reform Act in 1992 to keep the source of capital hidden. He said the authorities noted the suspected transactions during 1996 to 1998, adding that it was found out that the Hudaibiya Paper Mills was involved in large suspicious transactions and former prime minister Nawaz Sharif is owner of the Hudabiya Paper Mills. The minister said the former Finance Minister Ishaq Dar introduced money laundering in the country, and he himself confessed his role in these transactions. Fawad Chaudhry said Sharif family transferred all looted money to abroad through Hawala-Hundi and a very small capital of the laundered money has been brought to Pakistan by the Sharif family and the rest is still abroad. He said former president Asif Ali Zardari set up an account of fake accounts in Sindh. To a question, the information minister said Prime Minister Imran Khan is committed to rid Pakistan of the menace of corruption and he is supported by the whole nation in this task. “All the family of Shehbaz Sharif was being shifted towards London slowly, it was revealed during the investigation of assets beyond known source of income against Shehbaz Sharif,” Fawad Chaudhry explained. He said that the concerned authorities observed the soft messages nearly to 200 and 26 million dollars were transferred to Shehbaz Sharif family. He termed that Zardari made his bank instead of fake accounts, adding that the expense of Bakhtawar Bhutto’s birthday was also paid through fake accounts. Speaking on the occasion, Shahzad Akbar said fake companies were set up in Dubai to launder money. He said members of Sharif family are unable to reply to the queries of NAB regarding the corruption. He said nation wants that accountability process reaches to its logical conclusion and we are committed to bring back the looted money. While talking to the journalists, Hammad Azhar said former Ishaq Dar is giving his opinion on current economic situation based on assumptions. No independent economist has endorsed the policies of Ishaq Dar.