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Rs10 bn recovery expected after Eid, Nawaz received $15 m loan in Bahrain for sugar mills: Shahzad Akbar

Rs10 bn recovery expected after Eid, Nawaz received $15 m loan in Bahrain for sugar mills: Shahzad Akbar
August 8, 2019
ISLAMABAD (92 News) - The recovery of plundered wealth of approximately Rs9 to Rs10 billion is expected after Eidul Azha, Special Assistant to Prime Minister on Accountability Barrister Shahzad Akbar claimed on Wednesday. Speaking at a press conference here today, he said jailed former prime minister Nawaz Sharif received US$15 million loan in Bahrain and got subsidy through offshore company, adding that the sugar mill was set up before the money was transferred to Pakistan. The special assistant said that machinery for the sugar mill had to be bought with the debt money. Akbar alleged said the Sharif family had used the Chaudhry Sugar Mill for money-laundering and illegal transfer of its shares as it remained the centre of focus for laundering money. In 2008, the mill’s shares were transferred to Maryam Nawaz, who later transferred some seven million of them to Yousaf Abbas Sharif in 2010. “The Qazi family was used for laundering money and they also looted Nasir Lotha.”