Musharraf and the Army
- Thread starter dabong1
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He is highly controversial .
Isnt he the one who had been charged with treason and isnt he the one who run away to India ????
hmmmmm
dabong1
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Nice slander......
dabong1
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So your saying that when the army gets attacked by its own people ,it increases the morale of the troops?
dabong1
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Corrupt Musharraf's Generals, Exposed by Musharraf's Generals
by Shaheen Sehbai - The South Asia Tribune - 29 April 2005
WASHINGTON, April 29: General Pervez Musharraf cannot, and does not, publicly claim that he has eliminated corruption altogether in Pakistan but he frequently boasts about cleaning up the top levels of his military cum civil administration.
Now his own trusted men are exposing these tall claims by pointing fingers and naming the military regimes big guns who are turning out to be the really big thieves. A few most glaring examples:
When a prominent cabinet minister who was visiting Washington a few months back, revealed quietly to me and a friend, the horrifyingly ugly scale of land grabbing and fake land sale scams going on in Pakistan, especially in Punjab, we frankly did not believe him.
We thought the minister was trying to get even with his uniformed masters for not fulfilling the tall political promises made to him. But the magnitude of the scams was such that the minister genuinely felt concerned and wanted us to write about them, although as a politician he was not going to raise his voice publicly and was prepared to serve those very Generals in every top position.
The minister has now been proved right. Thanks to one of the more upright Generals in the present lot, the Corps Commander of Lahore, Lt. General Shahid Aziz, details of the massive land scams are emerging.
Our ministerial source says Corps Commander Aziz, has started a serious investigation against his predecessor, the last Corps Commander of Lahore, currently posted in the GHQ, Lt. General Zarrar Azim, known in the real estate world of Lahore as General Zarrar Zamin (land).
Early results of this fight between the top military bulls has revealed that General Zarrar was so deeply involved in the scam of Lahore Defence Society that in the price of every plot of land allotted in the society, a fee of Rs 600,000 (US$10,000) had to be built-in, almost automatically, meant for the Corps Commanders office.
In this scam, it is now being found by the detectives of the new Corps Commander, that not only the out-going CC was involved, he was using a junior officer, Major Lodhi as a front man. This major is related to General Musharrafs coup partner and now retired General Aziz of Kargil fame.
The details of these Defence Society scams are mind boggling. Thousands of plots of lands are designated in official files as Defence Society land and these plots are then sold and re-sold on files. More paper Housing Societies are registered and approved and they claim vast tracts of land without owning a square yard.
According to our source, in Lahore alone there are 12,000 files of plots for Sectors 7, 8, 9 and 10 for which there is no land actually available on the ground. How many thousands of more such plots have been sold is not yet known but the probe ordered by Lt. Gen. Aziz will bring out some facts.
According to a going joke in the Army Mess Circuit, the last request General Musharraf made to Indian Prime Minister Manmohan Singh in Delhi was to give him 8,000 acres of land from the Indian territory across the Wagah-Atari border, 30 miles from Lahore, in return for Kashmir and Siachin, because my boys have already sold this land in the files.
Lahore is not the only Land of Land Scams. What has happened in Gwadar and Rawalpindi is of no less import.
The ministerial source said in the Bahria Town of Rawalpindi and Lahore, thousands of non-existent plots have been sold by the scheme managers. In Bahria Town of Lahore for 7,000 available plots 28,000 applications were accepted with deposits. But in Bahria Town Islamabad/Rawalpindi 77,000 plots have been sold which require land equivalent to 16 built-up sectors of Islamabad.
What we are getting into is the Mother of all Scams because billions upon billions of peoples money has been collected by these project sponsors while there is no land to be allotted. How many of these buyers get back their deposits and when, is the 50 billion rupees question, the source said.
Incidentally official records of the Ministry of Defence presented before the National Assembly show that Pakistan Army has Defence Housing Societies in Karachi, Lahore and Islamabad on an area of only 179,308 Kanals, or 22,500 acres. Pakistan Navy and Air Force have two housing societies each covering an area of 712 and 536 acres of land respectively.
Another of Musharrafs top commanders, Lt Gen. Tariq Wasim Ghazi, former Corps Commander of Karachi became notoriously famous in Karachi for similar land scams in Defence Society, Karachi, including Creek City and allotment to two special people, Humayun Butt and Fareed Veerani. Who are these specials and what is their involvement is being investigated by South Asia Tribune and will be revealed soon.
The Gwadar land scam has already infuriated the Baloch leadership and one reason why they are so violent and non-compromising is how their mother land is being sold and resold to outsiders after it was fraudulently bought from them for peanuts. In Gwadar the Generals and their front men were quietly told to buy the land from locals much in advance of announcement of mega projects. Once this mopping up operation was completed, the projects were announced and trading of this real estate began, multiplying the prices by 20 or even 40 times.
The ministerial source said the bigger scandal in Gwadar has started just recently when Government has ordered all its banks and State-owned Corporations to buy land in Gwadar at market prices. Middlemen have already sold and resold these plots many times over to different parties to perk up the market price. The tax payer will now end up paying the premium to these land mafias, the source said.
In a much quieter operation in Lahore the City Government of Nazim (Mayor) Mian Amer Mahmood claimed on Sunday, April 24, that it had succeeded in vacating 3,000 kanals (375 acres) of land belonging to schools from a land mafia, but interestingly he did not name the mafia. Most of those who read the small story or who were present when the announcement was made understood who was involved.
While Corps Commanders of Musharraf are involved in perpetuating or dismantling these land scams, one of his pillars of accountability, the former head of the National Accountability Bureau (NAB), Lt. General (Retd) Amjad Hussain was himself accused of massive corruption in the corporation he has been heading.
This charge of corruption was leveled in the National Assembly of Pakistan and involved the Fauji Foundation, undeniably the largest corporate body of Pakistan, now waiting to take over the largest public sector company, Pakistan State Oil.
The National Assembly was told last week that a high-level inquiry had been ordered against the management of the Fauji Foundation after detection of huge financial bunglings. General Amjad was facing the inquiry for selling a sugar mills in a non-transparent manner at less than the highest bid to a business enterprise which did not even participate in the bidding process.
The Assembly was told that the Khoski Sugar Mills was sold at Rs300 million against a previous bid of Rs387 million offered by a private party. Defence Minister Rao Sikandar ordered the inquiry to fix responsibility on those who violated the financial procedures and rules by going out of the way to benefit a favorite firm.
While the above details show that in-service Generals and Corps Commanders were being investigated for corruption, another officially announced corruption case was against the management of the South Asian Federation (SAF) Games, interestingly consisting of all military officers headed by Lt. General Arif Hassan.
The management of SAF Games has been found involved in financial irregularities to the tune of Rs201 million, which among other charges, include giving undue benefit to private organizations through "verbal agreements," Daily Dawn said quoting an audit report .
The ninth SAF Games management included Chairman Lt. Gen. Arif Hassan, Chief of staff and chief coordinating officer Brig. Amjad Javaid, Information and media director Lt. Col. Syed Mujtaba Tirmizi, Administration Director Brig. Ahmad Riza Siddiqi, Communications Director Brig Abid Hussain Bhatti, Technical Director Lt. Col. (retired) Muhammad Yahya, Procurement Director Lt. Col. Mansoor Abbas, Information Technology Director Lt. Col. Umer Farooq, Finance and Marketing Director Lt. Col. Azhar Dean, Ceremonies Director Brig. Arif Rasul Qureshi, Protocol Director Brig. Khalid Rasheed Lodhi and Chief Engineer Lt. Col. Usman Saeed.
The question being asked in all relevant circles was that even to organize an sporting event, none of the very well qualified civilians was found to be suitable and from top to bottom all army men had been inducted as if it SAF Games were military exercises. And now these sacred cows have been found to be involved in irregularities and corruption.
In a military regime, obviously the Corps Commanders and senior Generals are the top level of Government and if scams and scandals involving these top men are officially exposed, some in the National Assembly and others by leaks to the media by his own people, how would General Musharraf explain his claims of eliminating top level corruption.
Another intresting little artcle about mushy and his gang!
by Shaheen Sehbai - The South Asia Tribune - 29 April 2005
WASHINGTON, April 29: General Pervez Musharraf cannot, and does not, publicly claim that he has eliminated corruption altogether in Pakistan but he frequently boasts about cleaning up the top levels of his military cum civil administration.
Now his own trusted men are exposing these tall claims by pointing fingers and naming the military regimes big guns who are turning out to be the really big thieves. A few most glaring examples:
When a prominent cabinet minister who was visiting Washington a few months back, revealed quietly to me and a friend, the horrifyingly ugly scale of land grabbing and fake land sale scams going on in Pakistan, especially in Punjab, we frankly did not believe him.
We thought the minister was trying to get even with his uniformed masters for not fulfilling the tall political promises made to him. But the magnitude of the scams was such that the minister genuinely felt concerned and wanted us to write about them, although as a politician he was not going to raise his voice publicly and was prepared to serve those very Generals in every top position.
The minister has now been proved right. Thanks to one of the more upright Generals in the present lot, the Corps Commander of Lahore, Lt. General Shahid Aziz, details of the massive land scams are emerging.
Our ministerial source says Corps Commander Aziz, has started a serious investigation against his predecessor, the last Corps Commander of Lahore, currently posted in the GHQ, Lt. General Zarrar Azim, known in the real estate world of Lahore as General Zarrar Zamin (land).
Early results of this fight between the top military bulls has revealed that General Zarrar was so deeply involved in the scam of Lahore Defence Society that in the price of every plot of land allotted in the society, a fee of Rs 600,000 (US$10,000) had to be built-in, almost automatically, meant for the Corps Commanders office.
In this scam, it is now being found by the detectives of the new Corps Commander, that not only the out-going CC was involved, he was using a junior officer, Major Lodhi as a front man. This major is related to General Musharrafs coup partner and now retired General Aziz of Kargil fame.
The details of these Defence Society scams are mind boggling. Thousands of plots of lands are designated in official files as Defence Society land and these plots are then sold and re-sold on files. More paper Housing Societies are registered and approved and they claim vast tracts of land without owning a square yard.
According to our source, in Lahore alone there are 12,000 files of plots for Sectors 7, 8, 9 and 10 for which there is no land actually available on the ground. How many thousands of more such plots have been sold is not yet known but the probe ordered by Lt. Gen. Aziz will bring out some facts.
According to a going joke in the Army Mess Circuit, the last request General Musharraf made to Indian Prime Minister Manmohan Singh in Delhi was to give him 8,000 acres of land from the Indian territory across the Wagah-Atari border, 30 miles from Lahore, in return for Kashmir and Siachin, because my boys have already sold this land in the files.
Lahore is not the only Land of Land Scams. What has happened in Gwadar and Rawalpindi is of no less import.
The ministerial source said in the Bahria Town of Rawalpindi and Lahore, thousands of non-existent plots have been sold by the scheme managers. In Bahria Town of Lahore for 7,000 available plots 28,000 applications were accepted with deposits. But in Bahria Town Islamabad/Rawalpindi 77,000 plots have been sold which require land equivalent to 16 built-up sectors of Islamabad.
What we are getting into is the Mother of all Scams because billions upon billions of peoples money has been collected by these project sponsors while there is no land to be allotted. How many of these buyers get back their deposits and when, is the 50 billion rupees question, the source said.
Incidentally official records of the Ministry of Defence presented before the National Assembly show that Pakistan Army has Defence Housing Societies in Karachi, Lahore and Islamabad on an area of only 179,308 Kanals, or 22,500 acres. Pakistan Navy and Air Force have two housing societies each covering an area of 712 and 536 acres of land respectively.
Another of Musharrafs top commanders, Lt Gen. Tariq Wasim Ghazi, former Corps Commander of Karachi became notoriously famous in Karachi for similar land scams in Defence Society, Karachi, including Creek City and allotment to two special people, Humayun Butt and Fareed Veerani. Who are these specials and what is their involvement is being investigated by South Asia Tribune and will be revealed soon.
The Gwadar land scam has already infuriated the Baloch leadership and one reason why they are so violent and non-compromising is how their mother land is being sold and resold to outsiders after it was fraudulently bought from them for peanuts. In Gwadar the Generals and their front men were quietly told to buy the land from locals much in advance of announcement of mega projects. Once this mopping up operation was completed, the projects were announced and trading of this real estate began, multiplying the prices by 20 or even 40 times.
The ministerial source said the bigger scandal in Gwadar has started just recently when Government has ordered all its banks and State-owned Corporations to buy land in Gwadar at market prices. Middlemen have already sold and resold these plots many times over to different parties to perk up the market price. The tax payer will now end up paying the premium to these land mafias, the source said.
In a much quieter operation in Lahore the City Government of Nazim (Mayor) Mian Amer Mahmood claimed on Sunday, April 24, that it had succeeded in vacating 3,000 kanals (375 acres) of land belonging to schools from a land mafia, but interestingly he did not name the mafia. Most of those who read the small story or who were present when the announcement was made understood who was involved.
While Corps Commanders of Musharraf are involved in perpetuating or dismantling these land scams, one of his pillars of accountability, the former head of the National Accountability Bureau (NAB), Lt. General (Retd) Amjad Hussain was himself accused of massive corruption in the corporation he has been heading.
This charge of corruption was leveled in the National Assembly of Pakistan and involved the Fauji Foundation, undeniably the largest corporate body of Pakistan, now waiting to take over the largest public sector company, Pakistan State Oil.
The National Assembly was told last week that a high-level inquiry had been ordered against the management of the Fauji Foundation after detection of huge financial bunglings. General Amjad was facing the inquiry for selling a sugar mills in a non-transparent manner at less than the highest bid to a business enterprise which did not even participate in the bidding process.
The Assembly was told that the Khoski Sugar Mills was sold at Rs300 million against a previous bid of Rs387 million offered by a private party. Defence Minister Rao Sikandar ordered the inquiry to fix responsibility on those who violated the financial procedures and rules by going out of the way to benefit a favorite firm.
While the above details show that in-service Generals and Corps Commanders were being investigated for corruption, another officially announced corruption case was against the management of the South Asian Federation (SAF) Games, interestingly consisting of all military officers headed by Lt. General Arif Hassan.
The management of SAF Games has been found involved in financial irregularities to the tune of Rs201 million, which among other charges, include giving undue benefit to private organizations through "verbal agreements," Daily Dawn said quoting an audit report .
The ninth SAF Games management included Chairman Lt. Gen. Arif Hassan, Chief of staff and chief coordinating officer Brig. Amjad Javaid, Information and media director Lt. Col. Syed Mujtaba Tirmizi, Administration Director Brig. Ahmad Riza Siddiqi, Communications Director Brig Abid Hussain Bhatti, Technical Director Lt. Col. (retired) Muhammad Yahya, Procurement Director Lt. Col. Mansoor Abbas, Information Technology Director Lt. Col. Umer Farooq, Finance and Marketing Director Lt. Col. Azhar Dean, Ceremonies Director Brig. Arif Rasul Qureshi, Protocol Director Brig. Khalid Rasheed Lodhi and Chief Engineer Lt. Col. Usman Saeed.
The question being asked in all relevant circles was that even to organize an sporting event, none of the very well qualified civilians was found to be suitable and from top to bottom all army men had been inducted as if it SAF Games were military exercises. And now these sacred cows have been found to be involved in irregularities and corruption.
In a military regime, obviously the Corps Commanders and senior Generals are the top level of Government and if scams and scandals involving these top men are officially exposed, some in the National Assembly and others by leaks to the media by his own people, how would General Musharraf explain his claims of eliminating top level corruption.
Another intresting little artcle about mushy and his gang!
dabong1
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Top Guns Got Over 53 Billion Rupees Bank Loans Written Off
By Rauf Klasra
ISLAMABAD, Pakistan, 23 October 2007 (The News): As the present
[Musharraf Mafia] Government completes its five-year term in office on
November 15 [2007], it has been officially disclosed in a secret
report that the top guns of Pakistan got 53.499 billion rupees bank
loans written off on the basis of a decision taken by the financial
team of General Pervez Musharraf in October 2002.
This shocking disclosure has been made in a secret report submitted
before the Public Accounts Committee (PAC) of the National Assembly
which has been requested to take up the issue at the earliest time to
know the reasons behind such a massive loss to the public exchequer
facilitating the privileges of the present [Musharraf Criminal]
Government.
As the present [Musharraf Terrorist] Government would claim to be the
first in the history of Pakistan that has completed five years in
office, at the same time it would also be 'credited' with writing off
such an unprecedented amount of loans within its five years in office
to facilitate top guns of the [Musharraf corrupt] regime.
The report shows that a total of over 50,000 persons - including
politicians, civil and military business concerns, and business
tycoons of Karachi, Lahore and other areas - were the direct
beneficiaries of this massive favour.
Two sitting chief ministers of the [Punjab and Balochistan] provinces
[Chaudhry Pervaiz Elahi and Jam Muhmmad Yousaf] and their families,
having big business concerns and stakes, are also beneficiaries of
these written off loans whose details would be discussed in the
committee meeting.
Although in the past, reports of written off loans have been appearing
at different forums including the National Assembly, this is the first
time that the total written off amount has come to surface.
The Chief Minister of [Punjab] province, [Chaudhry Pervaiz Elahi],
whose family owns sugar mills, also got loans written off under this
scheme. The Chief Minister of [Balochistan] province, [Jam Muhmmad
Yousaf], got loans written off outstanding against his ghee [cooking
oil] mills. Even some foreign firms and multinational companies and a
private bus service operating from Lahore to different cities of
Punjab were also extended this facility.
Earlier, soon after elections in October 2002, the then Finance
Minister Shaukat Aziz and his financial team at the State Bank [of
Pakistan (SBP)] approved a 'written off loan scheme' in the same month
(October 2002) after certain top politicians of the [Musharraf
Tyrannical] Government put them under pressure to ease financial
burden of loans from their business concerns.
In the garb of writing off non-performing loans of small businessmen,
these top guns quietly got billions of rupees written off. An official
of the PAC confirmed to The News that a report has been received
containing the details of loans written off during the last five
years.
Copy of the report available with The News shows that soon after the
October 2002 elections, General Pervez Musharraf's financial team
decided to launch a scheme to write off loans of the big guns as it
set the minimum limit of written off loans at Rs 0.5 million. This 0.5
million condition deprived small growers and small businessmen of this
scheme and only big guns were the beneficiaries.
The report said that prudent banking practices and prudential
regulations issued by the State Bank required securing loans through
best guarantees, viable credit approvals, proper documentations and
effective monitoring and follow up to avert flow of cases of non-
performing loans. On the contrary, cases of non-performing loans were
allowed to be accumulated by the banks and the SBP.
Instead of launching an effective campaign for recovery of such loans,
the SBP issued an incentive scheme to the banks/DFIs in October 2002
for writing off NPLs [Non-Performing Loans] of the organizations
showing "loss" for three years or more. The NPLs for the purpose of
the scheme were divided into three categories: category A included
NPLs up to Rs 0.5 million, category B included NPLs ranging from Rs
0.5 million to Rs 2.5 million; whereas, category C included NPLs more
than Rs 2.5 million. The big political families and top guns exploited
the third category of the written off loans to get billions of rupees
outstanding against them written off from the banks.
However, the report has pointed out that for the settlement of B and C
category cases the banks/DFIs were required to recover maximum
possible amounts on the basis of outstanding amount vis-a-vis forced
sale of available assets. The purpose of the scheme was to clean the
balance sheets owned by banks/DFIs to make them ready for
privatisation.
As a result of the scheme, the banks/DFIs settled over 50,000 cases
involving outstanding amount of 74.879 billion rupees; whereas, only
11 billion rupees could be recovered. The report claims that the
scheme resulted in realization of only 15.15% of the outstanding loans
but major portion of the loans was either written off or could not be
recovered.
Meanwhile, the Auditor General of Pakistan (AGP) in its report to PAC
has opined that this practice resulted in encouraging defaulters with
an extraordinary financial burden on the public exchequer.
The report said the shocking written-off loans issue was raised with
the Ministry of Finance and SBP management. The matter was also
discussed in subsequent meetings in the recent past with the last one
held in March 2007.
Meanwhile, a SBP official has argued that the writing off of loans in
the banking sector was under a policy guideline issued vide circular
No. 29 and that the losses mentioned by audit did not pertain to the
SBP.
But the AGP in his report has observed that such a huge write off may
be looked into which was made possible due to circular No. 29 of SBP
and recoveries be made from the plunderers of public exchequer.
Talking to The News, Minister of State for Finance Omar Ayub strongly
defended the policy of the [Musharraf Thieves] Government to introduce
a scheme to help the borrowers settle their Non-Performing Loans
(NPLs) with the banks including the National Bank [of Pakistan (NBP)].
He said that these NPLs were settled in the light of circular No. 29
issued by the State Bank. Omar said, a total of 50,414 borrowers
availed the facility of settling their loans under this scheme which
he confirmed was introduced in October 2002 after general elections.
Omar said that these decisions were taken by the boards of these banks
that were quite independent and were not under the influence of the
[Musharraf Military] Government. He said actually these Non-Performing
Loans were becoming a burden on the banks itself so the decision was
taken to rather settle them after offering them a package.
Omar did not subscribe to the notion that top guns of the [Musharraf
Mafia] Government, including chief ministers or ministers, had got
their loans written off under this scheme. He also rejected the
impression that these loans were written off as a bribe both to the
politicians and big businessmen.
When told that even NBP had written off loans outstanding against some
top politicians, Omar replied: "We need to understand that banks were
deciding those cases in their own business interests without caring
for pressure from any side."
Top guns got Rs 54bn loans written off
Internet-Web Links:
(1) Writing Off Loans
Writing off loans
(2) PML-N Urges Supreme Court of Pakistan to Take Actions on illegal
Bank Loan Write-Offs
PML-N Information Secretary Ahsan Iqbal says 2 sitting chief ministers
also beneficiaries of bank loan frauds
Daily Times - Site Edition [Printer Friendly Version]...
(3) Musharraf Corrupt Regime Spent 65 Million Rupees on Overseas
Treatment of 18 Big Criminals of Pakistan
Govt spent Rs65m on overseas treatment of 18 bigwigs -DAWN - Top Stories; October 23, 2007
(4) Pakistan Army's 47 Corrupt Officers Become Millionaires By
Corruption
Pakistan Army's 47 Corrupt Officers Become Millionaires By Corruption - Report Press | Google Groups
47 Army officers strike it rich
General, PM and their Corrupt Crooks Looted Billions Through
Farmhouses Frauds
499 Farmhouses Are Worth 75 Billion Rupees
General, PM and their Corrupt Crooks Looted Billions Through Farmhouses Frauds - Report Press | Google Groups
499 farmhouses are worth Rs75bn!
Corruption of Pervez Musharraf and Shaukat Aziz Proven in Islamabad
Plot Frauds Case
499 High and Mighty in Trouble
Corruption of Pervez Musharraf and Shaukat Aziz Proven in Plot Frauds Case - Report Press | Google Groups
499 high and mighty in for trouble
Pakistan Peoples Party
Pakistan Peoples Party
Pakistan Supreme Court Must Recover All Donations Stolen by the
Musharraf Mafia
Pakistan Supreme Court Must Recover All Donations Stolen by the Musharraf Mafia - Report Press | Google Groups
http://www.bbc.co.uk/urdu/pakistan/story/2007/10/071023_senate_commit...
http://www.bbc.co.uk/urdu/pakistan/story/2007/10/071024_mush_uniform_...
Millions Missing from the Public Fund of Manmohan Singh, the Prime
Minister of India
http://www.bbc.co.uk/urdu/india/story/2007/10/071024_pm_fund_irregula...
(5) The Real Face of Benazir Bhutto
This is the woman now being imposed once again on the Pakistani Nation
by Mush and Bush regimes.
ICSSA | The Real Face of Benazir Bhutto
Changing Regimes Without Invasion
Changing regimes without invasion
http://www.bbc.co.uk/urdu/pakistan/story/2007/10/071024_benazir_attac...
http://www.bbc.co.uk/urdu/indepth/cluster/2007/10/071017_bb_returns_z...
- DW: Dictatorship Watch :: Putting Pakistani Dictatorship in Global & Regional Context
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- PTI: Pakistan Tehreek-e-Insaf > Home
- LPP: Socialist Pakistan
- ANP: Awami National Party - Official Website
- PML-N: Official website of Pakistan Muslim League (Nawaz)
- AHRC: Asian Human Rights Commission - Pakistan
- Chief Justice Pakistan
- AHRC - Asian Human Rights Commission
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By Rauf Klasra
ISLAMABAD, Pakistan, 23 October 2007 (The News): As the present
[Musharraf Mafia] Government completes its five-year term in office on
November 15 [2007], it has been officially disclosed in a secret
report that the top guns of Pakistan got 53.499 billion rupees bank
loans written off on the basis of a decision taken by the financial
team of General Pervez Musharraf in October 2002.
This shocking disclosure has been made in a secret report submitted
before the Public Accounts Committee (PAC) of the National Assembly
which has been requested to take up the issue at the earliest time to
know the reasons behind such a massive loss to the public exchequer
facilitating the privileges of the present [Musharraf Criminal]
Government.
As the present [Musharraf Terrorist] Government would claim to be the
first in the history of Pakistan that has completed five years in
office, at the same time it would also be 'credited' with writing off
such an unprecedented amount of loans within its five years in office
to facilitate top guns of the [Musharraf corrupt] regime.
The report shows that a total of over 50,000 persons - including
politicians, civil and military business concerns, and business
tycoons of Karachi, Lahore and other areas - were the direct
beneficiaries of this massive favour.
Two sitting chief ministers of the [Punjab and Balochistan] provinces
[Chaudhry Pervaiz Elahi and Jam Muhmmad Yousaf] and their families,
having big business concerns and stakes, are also beneficiaries of
these written off loans whose details would be discussed in the
committee meeting.
Although in the past, reports of written off loans have been appearing
at different forums including the National Assembly, this is the first
time that the total written off amount has come to surface.
The Chief Minister of [Punjab] province, [Chaudhry Pervaiz Elahi],
whose family owns sugar mills, also got loans written off under this
scheme. The Chief Minister of [Balochistan] province, [Jam Muhmmad
Yousaf], got loans written off outstanding against his ghee [cooking
oil] mills. Even some foreign firms and multinational companies and a
private bus service operating from Lahore to different cities of
Punjab were also extended this facility.
Earlier, soon after elections in October 2002, the then Finance
Minister Shaukat Aziz and his financial team at the State Bank [of
Pakistan (SBP)] approved a 'written off loan scheme' in the same month
(October 2002) after certain top politicians of the [Musharraf
Tyrannical] Government put them under pressure to ease financial
burden of loans from their business concerns.
In the garb of writing off non-performing loans of small businessmen,
these top guns quietly got billions of rupees written off. An official
of the PAC confirmed to The News that a report has been received
containing the details of loans written off during the last five
years.
Copy of the report available with The News shows that soon after the
October 2002 elections, General Pervez Musharraf's financial team
decided to launch a scheme to write off loans of the big guns as it
set the minimum limit of written off loans at Rs 0.5 million. This 0.5
million condition deprived small growers and small businessmen of this
scheme and only big guns were the beneficiaries.
The report said that prudent banking practices and prudential
regulations issued by the State Bank required securing loans through
best guarantees, viable credit approvals, proper documentations and
effective monitoring and follow up to avert flow of cases of non-
performing loans. On the contrary, cases of non-performing loans were
allowed to be accumulated by the banks and the SBP.
Instead of launching an effective campaign for recovery of such loans,
the SBP issued an incentive scheme to the banks/DFIs in October 2002
for writing off NPLs [Non-Performing Loans] of the organizations
showing "loss" for three years or more. The NPLs for the purpose of
the scheme were divided into three categories: category A included
NPLs up to Rs 0.5 million, category B included NPLs ranging from Rs
0.5 million to Rs 2.5 million; whereas, category C included NPLs more
than Rs 2.5 million. The big political families and top guns exploited
the third category of the written off loans to get billions of rupees
outstanding against them written off from the banks.
However, the report has pointed out that for the settlement of B and C
category cases the banks/DFIs were required to recover maximum
possible amounts on the basis of outstanding amount vis-a-vis forced
sale of available assets. The purpose of the scheme was to clean the
balance sheets owned by banks/DFIs to make them ready for
privatisation.
As a result of the scheme, the banks/DFIs settled over 50,000 cases
involving outstanding amount of 74.879 billion rupees; whereas, only
11 billion rupees could be recovered. The report claims that the
scheme resulted in realization of only 15.15% of the outstanding loans
but major portion of the loans was either written off or could not be
recovered.
Meanwhile, the Auditor General of Pakistan (AGP) in its report to PAC
has opined that this practice resulted in encouraging defaulters with
an extraordinary financial burden on the public exchequer.
The report said the shocking written-off loans issue was raised with
the Ministry of Finance and SBP management. The matter was also
discussed in subsequent meetings in the recent past with the last one
held in March 2007.
Meanwhile, a SBP official has argued that the writing off of loans in
the banking sector was under a policy guideline issued vide circular
No. 29 and that the losses mentioned by audit did not pertain to the
SBP.
But the AGP in his report has observed that such a huge write off may
be looked into which was made possible due to circular No. 29 of SBP
and recoveries be made from the plunderers of public exchequer.
Talking to The News, Minister of State for Finance Omar Ayub strongly
defended the policy of the [Musharraf Thieves] Government to introduce
a scheme to help the borrowers settle their Non-Performing Loans
(NPLs) with the banks including the National Bank [of Pakistan (NBP)].
He said that these NPLs were settled in the light of circular No. 29
issued by the State Bank. Omar said, a total of 50,414 borrowers
availed the facility of settling their loans under this scheme which
he confirmed was introduced in October 2002 after general elections.
Omar said that these decisions were taken by the boards of these banks
that were quite independent and were not under the influence of the
[Musharraf Military] Government. He said actually these Non-Performing
Loans were becoming a burden on the banks itself so the decision was
taken to rather settle them after offering them a package.
Omar did not subscribe to the notion that top guns of the [Musharraf
Mafia] Government, including chief ministers or ministers, had got
their loans written off under this scheme. He also rejected the
impression that these loans were written off as a bribe both to the
politicians and big businessmen.
When told that even NBP had written off loans outstanding against some
top politicians, Omar replied: "We need to understand that banks were
deciding those cases in their own business interests without caring
for pressure from any side."
Top guns got Rs 54bn loans written off
Internet-Web Links:
(1) Writing Off Loans
Writing off loans
(2) PML-N Urges Supreme Court of Pakistan to Take Actions on illegal
Bank Loan Write-Offs
PML-N Information Secretary Ahsan Iqbal says 2 sitting chief ministers
also beneficiaries of bank loan frauds
Daily Times - Site Edition [Printer Friendly Version]...
(3) Musharraf Corrupt Regime Spent 65 Million Rupees on Overseas
Treatment of 18 Big Criminals of Pakistan
Govt spent Rs65m on overseas treatment of 18 bigwigs -DAWN - Top Stories; October 23, 2007
(4) Pakistan Army's 47 Corrupt Officers Become Millionaires By
Corruption
Pakistan Army's 47 Corrupt Officers Become Millionaires By Corruption - Report Press | Google Groups
47 Army officers strike it rich
General, PM and their Corrupt Crooks Looted Billions Through
Farmhouses Frauds
499 Farmhouses Are Worth 75 Billion Rupees
General, PM and their Corrupt Crooks Looted Billions Through Farmhouses Frauds - Report Press | Google Groups
499 farmhouses are worth Rs75bn!
Corruption of Pervez Musharraf and Shaukat Aziz Proven in Islamabad
Plot Frauds Case
499 High and Mighty in Trouble
Corruption of Pervez Musharraf and Shaukat Aziz Proven in Plot Frauds Case - Report Press | Google Groups
499 high and mighty in for trouble
Pakistan Peoples Party
Pakistan Peoples Party
Pakistan Supreme Court Must Recover All Donations Stolen by the
Musharraf Mafia
Pakistan Supreme Court Must Recover All Donations Stolen by the Musharraf Mafia - Report Press | Google Groups
http://www.bbc.co.uk/urdu/pakistan/story/2007/10/071023_senate_commit...
http://www.bbc.co.uk/urdu/pakistan/story/2007/10/071024_mush_uniform_...
Millions Missing from the Public Fund of Manmohan Singh, the Prime
Minister of India
http://www.bbc.co.uk/urdu/india/story/2007/10/071024_pm_fund_irregula...
(5) The Real Face of Benazir Bhutto
This is the woman now being imposed once again on the Pakistani Nation
by Mush and Bush regimes.
ICSSA | The Real Face of Benazir Bhutto
Changing Regimes Without Invasion
Changing regimes without invasion
http://www.bbc.co.uk/urdu/pakistan/story/2007/10/071024_benazir_attac...
http://www.bbc.co.uk/urdu/indepth/cluster/2007/10/071017_bb_returns_z...
- DW: Dictatorship Watch :: Putting Pakistani Dictatorship in Global & Regional Context
- PTI Forum: Pakistan Tehreek-e-Insaf > Home
- PTI Lahore: Pakistan Tehreek-e-Insaaf Lahore | Justice! Humanity! Self Esteem!
- PTI: Pakistan Tehreek-e-Insaf > Home
- LPP: Socialist Pakistan
- ANP: Awami National Party - Official Website
- PML-N: Official website of Pakistan Muslim League (Nawaz)
- AHRC: Asian Human Rights Commission - Pakistan
- Chief Justice Pakistan
- AHRC - Asian Human Rights Commission
INTERNATIONAL MEDIA-PRESS - USA
1. Chief Editor: Journalist SYED ADEEB
- Syed Adeeb - Journalist - Editor - IT Consultant - USA
- SYED ADEEB - www.SyedAdeeb.net
2. ADEEB PRESS
- ADEEB PRESS - www.AdeebPress.com
- Adeeb Press - Books Publisher - USA
3. ADEEB MEDIA
- ADEEB MEDIA - www.AdeebMedia.com
- Adeeb Media - Audio Video Press - USA
4. INFORMATION PRESS
- Information Press - www.InformPress.com
- News Views Media - USA
5. REPORT PRESS
- REPORT PRESS - www.ReportPress.com
- Report Press - News Views Media - USA
6. Human Rights Foundation (HRF)
- Human Rights Foundation - www.JusticeForum.info
- Human Rights Foundation (HRF)
HRF Web-Email Newsletter
- justiceforum : Human Rights Foundation
dabong1
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Musharraf regime more corrupt than govts of Sharif, Bhutto
Islamabad, Sept 19: President Pervez Musharraf`s regime in Pakistan is more corrupt than the previous governments of Benazir Bhutto and Nawaz Sharif, according to a survey by a corruption watchdog.
In the survey conducted by Transparency International`s Pakistan chapter, a whopping 67% respondents said the government formed by Musharraf after the 2002 elections was corrupt. The figure was 33% for the military government headed by Musharraf between 1999-2002.
Only 10 per cent of those questioned said that the first term headed by former Prime Minister Nawaz Sharif government between 1990-93 was corrupt, but 34 per cent thought his second term between 1996-99 was corrupt, the results of the survey published in the Daily Times here today said.
Similarly only eight per cent of the people thought that first term of former Prime Minister Benazir Bhutto government between 1988-90 was corrupt but 48 per cent said her second term in office between 1993-96 was corrupt.
Questioned about corruption in government departments, the respondents were of the opinion that in per capital terms, citizens had to pay higher bribes to customs, followed by the land department, judiciary, taxation, banking, power, education, health, police and railways.
The watchdog`s 2006 report was based on a sample of 4000 urban and semi-urban citizens in all four provinces of the country.
home - Transparency International
Islamabad, Sept 19: President Pervez Musharraf`s regime in Pakistan is more corrupt than the previous governments of Benazir Bhutto and Nawaz Sharif, according to a survey by a corruption watchdog.
In the survey conducted by Transparency International`s Pakistan chapter, a whopping 67% respondents said the government formed by Musharraf after the 2002 elections was corrupt. The figure was 33% for the military government headed by Musharraf between 1999-2002.
Only 10 per cent of those questioned said that the first term headed by former Prime Minister Nawaz Sharif government between 1990-93 was corrupt, but 34 per cent thought his second term between 1996-99 was corrupt, the results of the survey published in the Daily Times here today said.
Similarly only eight per cent of the people thought that first term of former Prime Minister Benazir Bhutto government between 1988-90 was corrupt but 48 per cent said her second term in office between 1993-96 was corrupt.
Questioned about corruption in government departments, the respondents were of the opinion that in per capital terms, citizens had to pay higher bribes to customs, followed by the land department, judiciary, taxation, banking, power, education, health, police and railways.
The watchdog`s 2006 report was based on a sample of 4000 urban and semi-urban citizens in all four provinces of the country.
home - Transparency International
Speculation, innuendos and that is it. In the current times, when bashing the entire Pakistan Army is in-vogue, this sort of stuff makes for good reading and gets plenty of press.
The fact that it comes from someone staunchly against the Army is another reason that I am not willing to give this too much attention.
The fact that some Maj. who is working with a former CC is related to Gen Muhammad Aziz and Gen Aziz's name is mentioned is a typical method used by Shaheen Sehbai to trash the entire Army and Musharraf, I.e., "guilty by association."
The fact that it comes from someone staunchly against the Army is another reason that I am not willing to give this too much attention.
The fact that some Maj. who is working with a former CC is related to Gen Muhammad Aziz and Gen Aziz's name is mentioned is a typical method used by Shaheen Sehbai to trash the entire Army and Musharraf, I.e., "guilty by association."
kidwaibhai
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first of all if this was such a big thing then i think that the BBC would have coverd it in its international version of the website so far i havnt seen anything so i will hold onto to my judgement till that happens.
kidwaibhai
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first of all this is all based on perception they dont have any figures to back this assesment up. Secondly it is tougher of musharraf because after a while the media outlets started a campain to show that he is curropt and not doing a good job.
SherwaniAK
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you may choose to ignore but i wont. Our army's performance is no way spectacular. Look at swat and fata. no one gives a damn
the musharraf govt is best at arresting lawyers and human right actvists. Lets give Sitara-e-Jurrat to musharraf
dabong1
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The story of Pakistan is the story of ambitious and adventurist Generals denying the people their rights.
-Former Air Force Chief, Mohammad Asghar Khan
Article 243.1 of the constitution of Pakistan states that 'The Federal Government shall have control and command of the Armed Forces' and when a person is commissioned as a member of the Armed Forces, takes the following oath
"I ------, do solemnly swear that I will bear true faith and allegiance to Pakistan and uphold the Constitution of the Islamic Republic of Pakistan which embodies the will of the people, that I will not engage myself in any political activities whatsoever and that I will honestly and faithfully serve Pakistan Army (or Navy or Air Force) as required by and under the law."
In the last six decades Pakistan Army under the command of Fascist Generals has betrayed the nation four times by defying their oath and constitution. Moreover these fascist Generals used their political influence and transformed military into an organised crime syndicate and a business mafia. This organisation is the biggest stake holder and stock holder in every big business of Pakistan. They have biggest share in Pakistan’s stock exchange, operate commercial bank, airline, steel, cement, telecom, petroleum and energy, education, sports, health care and even grocery shops chains and bakeries. In short their monopoly is present in every sector of Pakistan’s economy. On the contrary their performance at their profession is nil. Pakistan army being ranked as the seventh biggest army in the world has not conquered a single inch in fact it has only brought embarrassment to the nation in the battle fields of Kargil and Dhaka .
-Former Air Force Chief, Mohammad Asghar Khan
Article 243.1 of the constitution of Pakistan states that 'The Federal Government shall have control and command of the Armed Forces' and when a person is commissioned as a member of the Armed Forces, takes the following oath
"I ------, do solemnly swear that I will bear true faith and allegiance to Pakistan and uphold the Constitution of the Islamic Republic of Pakistan which embodies the will of the people, that I will not engage myself in any political activities whatsoever and that I will honestly and faithfully serve Pakistan Army (or Navy or Air Force) as required by and under the law."
In the last six decades Pakistan Army under the command of Fascist Generals has betrayed the nation four times by defying their oath and constitution. Moreover these fascist Generals used their political influence and transformed military into an organised crime syndicate and a business mafia. This organisation is the biggest stake holder and stock holder in every big business of Pakistan. They have biggest share in Pakistan’s stock exchange, operate commercial bank, airline, steel, cement, telecom, petroleum and energy, education, sports, health care and even grocery shops chains and bakeries. In short their monopoly is present in every sector of Pakistan’s economy. On the contrary their performance at their profession is nil. Pakistan army being ranked as the seventh biggest army in the world has not conquered a single inch in fact it has only brought embarrassment to the nation in the battle fields of Kargil and Dhaka .
fatman17
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agree with Blain2 however must give credit to dabong1 for his persistence for posting anti-musharraf news. i wish i had the time to post ant-politicians news but where will it get us.
our people are so fickle-minded that corruption worth $1.5billion is being ignored because BB just says "I am innocent" and everyone forgives and forgets
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