Wall Street Journal exposes Sharifs' alleged corruption in K-Electric sale

WASHINGTON (Web Desk) – Wall Street Journal has exposed another alleged corruption of the Sharif family in the sale of K-Electric. According to the journal, Abraaj Capital’s founder Arif Naqvi offered bribe to the Sharif brothers in the sale of K-Electric and the deal was struck with a close aide of the Sharifs for US$20 million. He also secretly held meetings with the Sharif brothers. WSJ claimed that Arif Naqvi wrote to Abraaj Capital to settle the matter generally. Later, Arif Naqvi mailed that the matter had gone in the wrong hand. The US paper also published an e-mail in this regard. According to the revelations made by WSJ, Arif Naqvi had written in the e-mail that the Sharif brothers will tell that how the kickback amount will be distributed. The amount was to be given to the Sharif brothers in the election fund or a welfare project. WSJ also claimed that the Sharif brothers and the kickback deal dates back to eight years. It stated that the matters between Abraaj Capital and Sharif brothers were kept secret. However, the Sharif brothers and Arif Naqvi have denied any deal. The deal was materialized when Shanghai Electric expressed willingness to purchase K-Electric.