Tag: Shehbaz Sharif

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Court set to indict Shehbaz in money laundering case

Shehbaz Sharif

A special court in Lahore on Saturday fixed September 7 for the indictment of Pakistan Prime Minister Shehbaz Sharif, his son Hamza Shahbaz, and others, for their alleged involvement in the laundering of 16 billion PKR in the sugar scam case.

The Federal Investigation Agency (FIA) booked Shehbaz and his sons Hamza and Suleman in November 2021 under sections of the Prevention of Corruption Act and Anti Money Laundering Act, Geo News reported.

Suleman Shehbaz is absconding in the UK.

During the hearing on Saturday, property details of Suleman, who was declared a proclaimed offender in the multi-billion-rupee money laundering case, were submitted in the court, Geo News reported.

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In December 2021, the FIA had submitted the challan against Shehbaz and Hamza before the special court for their alleged involvement in laundering an amount of Rs16 billion in the sugar scam case.

According to the FIA report submitted to the court, the investigation team has “detected 28 benami accounts of the Shehbaz family through which money laundering of 16.3 billion PKR was committed during 2008-18. The FIA examined the money trail of 17,000 credit transactions”.

The report added that the amount was kept in “hidden accounts” and “given to Shehbaz in a personal capacity”, Geo News reported.

Prime Minister Shehbaz Sharif

This amount (16 billion PKR) has nothing to do with the sugar business (of Shehbaz family), it claimed.

The money received from the accounts of low-wage employees by Shehbaz was transferred outside Pakistan via hundi/hawala networks, ultimately destined for the beneficial use of his family members, the FIA had alleged.

“Eleven low-paid employees of the Sharif group who ‘held and possessed’ the laundered proceeds on behalf of the principal accused, are found guilty of facilitating money laundering. The three other co-accused of the Sharif group also actively facilitated the money laundering,” the agency had said.

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Desperate Pakistan plans selling assets to prevent default

Prime Minister Shehbaz Sharif

Pakistan President Arif Alvi has not signed the ordinance yet, reports Asian Lite News

In a desperate attempt to save the country from default through emergency sale of state’s assets to foreign countries, the Pakistan federal cabinet has approved an ordinance to bypass all the procedures for the process and also abolished regulatory checks including the applicability of six relevant laws, media reports said.

Through the Inter-Governmental Commercial Transactions Ordinance 2022, the Centre has also empowered itself to issue binding instructions to the provincial governments for land acquisition, according to a copy of the ordinance, Express Tribune reported.

Pakistan President Arif Alvi has not signed the ordinance yet.

The Pakistan government has also barred the courts of the country from entertaining any petition against the sale of assets and shares of the government companies to foreign countries, as per the ordinance, Express Tribune reported.

The federal cabinet had approved the ordinance on Thursday to sell stakes of oil and gas companies and government-owned power plants to the UAE to raise $2 billion to $2.5 billion to avoid the looming default.

The UAE had in May refused to give cash deposits due to Islamabad’s inability to return previous loans and instead asked to open its companies for investment.

Miftah Ismail

Finance Minister Miftah Ismail had said this week that it usually took 471 days to complete one privatisation transaction. He had added that the government had to conclude deals with foreign countries in days to urgently raise funds.

The International Monetary Fund (IMF) has placed a condition that Pakistan’s case could not be taken to the board until it arranged $4 billion from friendly countries to bridge the financing gap.

The federal Law Minister had not provided the reason for the purpose of this article.

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Shehbaz unveils new relief package

Sharif said the relief package will provide around 14 million deserving families with immediate assistance of 2,000 PKR each on monthly basis…reports Asian Lite News

Pakistan Prime Minister Shahbaz Sharif has announced a new relief package worth 28 billion PKR ($140 million) per month to mitigate the impact of the increase in the prices of petroleum products on the lower-income people of the country.

In a televised address to the nation, Sharif said the relief package will provide around 14 million deserving families with immediate assistance of 2,000 PKR each on monthly basis, reports Xinhua news agency.

The package will provide financial assistance to almost 85 million people which is nearly one-third of the total population of Pakistan, he said.

This relief is in addition to the support already being provided to the under-privileged faction through the framework of Benazir Income Support Program, according to Sharif.

The Prime Minister said that this relief package will be included in the next financial budget.

Sharif said that Utility Stores Corporation throughout the country has been ordered to provide 10 kilograms of flour bags at a subsidized rate of 400 PKR.

The premier also announced to initiate a consultative process to take all the political parties on board in order to ensure smooth implementation of the economic policies.

Power tariffs to increase

After hiking the prices of petroleum products in Pakistan, the Shehbaz Sharif-led government is planning to now increase electricity tariffs in the country, according to an official.

Minister of State for Petroleum Musadiq Malik on Friday said that an increase in electricity tariff would follow fuel price adjustment through withdrawal of subsidies while protecting the poor under principles agreed to with the International Monetary Fund (IMF), Dawn newspaper reported.

He said that Pakistan has committed to ending global subsidies that are equally available to the rich and the poor.

“This is the high-level agreement under which we are taking all these decisions,” he said, adding the electricity prices would also be adjusted on the same lines so that the poor remain protected.

The new petrol price, after the recent hike, will be Rs 179.86 per litre, high-speed diesel will be available for Rs 174.15 per litre, kerosene oil will be priced at Rs 155.56 per litre, and the rates of light diesel will be that of Rs 148.31 per litre, reported Ary News.

As per reports, the Pakistani government led by Prime Minister Shehbaz Sharif has decided to hike the electricity prices by Rs 7 besides privatization of profitable public-owned DISCOs.

This comes after IMF expressed concern over the Rs 2,600 billion power tariff. The Fund had suggested the government immediately privatize the public-owned profitable DISCOs.

Meanwhile, Pakistan is reeling under an acute electricity crisis resulting in a power shortfall of 6,500 megawatts (MW) accompanied by long hours of load shedding, lasting up to 12 hours.

Against a demand of 26,000 megawatts, the power supply in the country remained at 19,500 megawatts, reported Ary News. Rural areas in Pakistan are experiencing power cuts for up to 12 hours.

Further, the electricity shortfall of Lahore Electric Supply Company (LESCO) has touched 8,00 megawatts. Although the electricity demand is 4,800 megawatts, the electricity supply is 4,000 megawatts. (IANS/ANI)

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Shehbaz orders ban on sugar export

Sharif also directed the concerned authorities to take stringent measures against the smuggling of the commodity….reports Asian Lite News

Pakistan Prime Minister Shahbaz Sharif has imposed a ban on the export of sugar to stabilise prices and control hoarding of the commodity in the country, his office said on Monday.

In a statement, the office quoted the premier as saying that the first priority is to fulfil the domestic demand and stabilise the prices of sugar for the people, reports Xinhua news agency.

Sharif also directed the concerned authorities to take stringent measures against the smuggling of the commodity.

He ordered the concerned departments to sternly deal with hoarders, illegal profiteers and other factors involved in creating an artificial shortage of sugar, the statement added.

According to the statement, Sharif will keep himself updated on the implementation of the measures, adding that relevant authorities will be held accountable for any negligence.

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5 Pakistanis arrested in Saudi for ‘insulting’ Shehbaz’s delegation

(Photo Credit: Twitter via ANI)

The spokesperson of the Madinah police said that the suspects have been referred to the competent authorities after completing the legal procedures.

Police arrested five Pakistani nationals for “abusing and insulting” members of PM Shehbaz Sharif’s delegation at the Masjid-e-Nabawi (PBUH) in Madinah, Saudi Arabia.

The spokesperson of the Madinah police said that the suspects have been referred to the competent authorities after completing the legal procedures, Geo TV reported citing Saudi Publication Saudi Gazette.

“Their actions contradict the sanctity of the place and impact the safety of visitors and worshipers,” said the spokesperson.

On Thursday, some protesters, allegedly belonging to the Pakistan Tehreek-e-Insaf (PTI), violated the sanctity of the Masjid-e-Nabawi by loudly chanting slogans against Prime Minister Shehbaz Sharif’s delegation.

Earlier in the day, the Director of Information at the Saudi Arabia Embassy in Islamabad confirmed the arrest of Pakistani nationals and said that an investigation has been launched into this matter, reported Geo TV.

A viral video has been circulating on social media platforms that showed hundreds of pilgrims raising “chor chor” [thieves] slogans upon seeing the delegation making their way to Masjid-e-Nabawi.

In a video, Information Minister Marriyum Aurangzeb and member of the National Assembly Shahzain Bugti were seen along with others.

According to the Pakistani newspaper, Aurangzeb indirectly blamed ousted Imran Khan for the protest.

“I will not name this person on this holy land because I do not want to use this land for politics. But they have destroyed the [Pakistani] society,” The Express Tribune quoted Aurangzeb as saying.

Pakistan Prime Minister Shehbaz Sharif meets with Crown Prince of Saudi Arabia Prince Mohammed bin Salman. (Photo: Twitter@PakPMO)

This comes as Pakistan Prime Minister Shehbaz Sharif is on his maiden three-day official visit to Saudi Arabia. Dozens of officials and political leaders have accompanied the Pakistan Prime Minister on his visit to the Kingdom.

Taking to Twitter and sharing the video, a netizen wrote, “Proud Pakistanis, please be heartened by witnessing what a wonderful welcome our PM and his Pakistan Democratic Movement (PDM) gang of criminals got in Saudi Arabia.”

Another Twitter user, Muhammad Ibrahim Qazi said that Saudi Arabia citizens are calling out ousted PM Imran Khan. “Citizens of Saudi Arabia are calling out Ousted PM Imran Khan to have exported the moral obscenity to the Prophet’s Mosque in Madinah. They are also condemning Pakistanis for violating the Kingdom’s laws,” Qazi said.

Sharif was sworn in as Pakistan’s 23rd Prime Minister on April 11 after his predecessor Imran Khan was ousted in a no-confidence vote. (ANI)

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Shehbaz may request $7.4bn Saudi aid

Senior Ministry officials said that the government would seek $2 billion additional cash deposit in addition to the rollover of the existing $3 billion facility, which would mature by the end of this year…reports Asian Lite News

During his visit to Saudi Arabia, Pakistan Prime Minister Shehbaz Sharif may seek a $7.4 billion financial assistance package from the kingdom in the shape of cash deposits and oil on deferred payments, including rollover of the existing $4.2 billion facilities that are expiring by the end of this year.

The request will be made during Sharif’s three-day visit that would begin from Thursday, according to the Ministry of Finance officials, The Express Tribune reported.

Finance Minister Miftah Ismail will also be part of the official entourage.

Senior Ministry officials said that the government would seek $2 billion additional cash deposit in addition to the rollover of the existing $3 billion facility, which would mature by the end of this year.

They said this time the country was seeking the loan for a longer than one year period, in addition to relaxation in terms of the previous agreement.

In October last year, Saudi Arabia had announced giving $3 billion in cash deposit for one year and oil on deferred payment equal to $1.2 billion annually.

However, the oil facility became operational only in March this year when the country lifted $100 million equivalent oil.

The request will also be made to double the oil on deferred payments limit to $2.4 billion, according to the officials.

The net additional financial assistance is $3.2 billion in the shape of cash deposits and oil on deferred payments, The Express Tribune reported.

The last PTI government had obtained $3 billion cash at 4 per cent interest rate and the oil on deferred payments at 3.8 per cent rate for one year, according to the terms agreed between both countries.

Unlike in the past, there was no option for the rollover of the Saudi loan and the country is required to return it at once after one year.

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Shehbaz Sharif’s 37-member cabinet takes oath

PPP’s Hina Rabbani Khar was appointed the state minister for foreign affairs while PML-N’s Rana Sanaullah was given the interior ministry…reports Asian Lite News

Senate Chairman Sadiq Sanjrani has administered the oath to federal ministers and ministers of state, who will form the cabinet of newly elected Prime Minister Shehbaz Sharif.

The oath-taking ceremony began with the recitation of the Holy Quran at the President House. Thirty-one federal ministers and three ministers of state and as many advisers to the prime minister took the oath.
According to Radio Pakistan, PML-N’s Marriyum Aurangzeb and Azam Nazir Tarar have been appointed the information and law minister, respectively.

Ahsan Iqbal, also from the PML-N, has been appointed the planning and development minister. According to Dawn, Muttahida Qaumi Movement-Pakistan’s (MQM-P) Aminul Haque has taken charge as the information technology and telecommunications minister, APP reports. Haque had also held the same portfolio under the previous PTI government.

Further, PPP’s Hina Rabbani Khar was appointed the state minister for foreign affairs while PML-N’s Rana Sanaullah was given the interior ministry.

The ceremony was scheduled to be held on Monday, but it transpired that President Arif Alvi had refused to administer the oath to the lawmakers, compelling the government to postpone the ceremony to Tuesday.

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Shehbaz Sharif writes to PM Modi, seeks peaceful ties

India has however, reiterated its stand that it wants strong diplomatic ties with Pakistan provided that Islamabad creates a terror-free environment and hostility for any form of engagement…reports Asian Lite News

Pakistan Prime Minister Shehbaz Sharif has written a letter to his Indian counterpart, Narendra Modi urging for maintaining meaningful bilateral ties between the two neighbouring countries, media reports said.

Sharif’s letter on Sunday comes in response to the congratulatory message sent by Modi earlier in the day in which the latter said India supported constructive ties with Pakistan.

The Pakistani Prime Minister replied to the Indian Prime Minister’s letter and sought resolving of the outstanding issues between the two countries, including that of Kashmir, while stressing that Pakistan wants peaceful and friendly ties with India, media reports added.

India has however, reiterated its stand that it wants strong diplomatic ties with Pakistan provided that Islamabad creates a terror-free environment and hostility for any form of engagement.

“Congratulations to H.E. Mian Muhammad Shehbaz Sharif on his election as the Prime Minister of Pakistan. India desires peace and stability in a region free of terror, so that we can focus on our development challenges and ensure the well-being and prosperity of our people,” PM Modi tweeted on April 11.

The relations between India and Pakistan have further deteriorated after India in August 2019 announced the abrogation of Article 370 in Jammu and Kashmir and bifurcated the state into two union territories.

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Imran accused of selling state gifts worth PKR 140 mn

The former federal minister and Pakistan Tehreek-e-Insaf (PTI) leader Fawad Chaudhry refuted the premier’s claims, saying he is “throwing dirt on Imran Khan”, reports Asian Lite News

Pakistan Prime Minister Shehbaz Sharif on Friday accused the former premier Imran Khan of selling gifts received during foreign visits, reported local media.

“I can confirm you that Imran Khan took gifts worth Rs 140 million from Toshakhana (state depository) and sold them in Dubai,” ARY News quoted Sharif as saying, who further added that the valuable state gifts included diamond jewellery, bracelets and watches.

Sharif’s remarks came in response to a question regarding a petition filed in the Islamabad High Court seeking details of the Toshakhana. The then PM Imran Khan had refused to reveal the details of the depository of the state gifts, citing provisions of the Official Secrets Act, 1923, reported Geo News.

However, the former federal minister and Pakistan Tehreek-e-Insaf (PTI) leader Fawad Chaudhry refuted the premier’s claims, saying he is “throwing dirt on Imran Khan”.

(Photo PML(N))

Chaudhry further advised the premier to avoid superficial gossip and focus on national issues, according to the media outlet.

Notably, according to Pakistan’s law, gifts received by the head of the state from another state or country have to be deposited in the Toshakhana. In the event the head of the state wishes to keep the gift, the payment equal to its value, which is decided through an auction, has to be paid to the state exchequer.

Meanwhile, ousted Prime Minister Imran Khan on Friday appealed to the overseas Pakistanis to donate money to PTI in order to topple the “foreign-backed” government headed by Shehbaz Sharif.

Khan alleged that with the help of the US, a corrupt government has overtaken Pakistan and therefore he wants the country to hold fresh elections where Pakistani citizens can decide on their future. (ANI)

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PM Shehbaz Sharif announces first trips abroad

According to sources, during his visit to Saudi Arabia, Shehbaz Sharif will perform Umrah and meet the Saudi leadership….reports Asian Lite News

Newly-elected Pakistan Prime Minister Shehbaz Sharif is expected to travel to Saudi Arabia and China in his first foreign trip after taking charge, a Pakistan Muslim League Nawaz (PML-N) leader said, Express Tribune reported.

Traditionally, a Pakistan Prime Minister’s first foreign visit has often been to Saudi Arabia and China due to the country’s strategic relationship with both the nations.

According to sources, during his visit to Saudi Arabia, Shehbaz Sharif will perform Umrah and meet the Saudi leadership.

The Sharif family maintains a close personal relationship with the Saudi Royal family as the latter played a central role in ensuring the safe exit of Nawaz Sharif after the October 1999 coup.

Saudi Arabia in the past had extended financial bailout packages to successive Pakistani governments. In fact, Riyadh gave former Prime Minister Imran Khan’s government a $6 billion bailout package.

After the Saudi visit, Sharif is also expected to travel to China. The PM is known to enjoy a good reputation among the Chinese leadership because of his administrative qualities. During the previous PML-N tenure, Sharif played a central role in accelerating the China-Pakistan Economic Corridor (CPEC) projects, Express Tribune reported.

Meanwhile, the Chinese state media has welcomed the election of Sharif and stated that given his family’s previous engagements with China, the new Prime Minister would prove better for Pakistan-China relationship than Imran Khan, the report said.

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