Sharifs' Dubai factory was never sold, it was liquidated: Kaira
PM said his family had set up factory in KSA with the money received from Dubai factors, said Kaira
LAHORE: (Dunya News, Web Desk) – Pakistan People’s Party (PPP) leader Qamar Zaman Kaira has on Tuesday said that Prime Minister (PM) Nawaz Sharif had claimed before the parliament that his family had set up a mill in Saudi Arabia with the money they received after selling the Dubai factory but in fact the Dubai factory was never sold, but liquidated.
Talking on Dunya News program ‘On The Front’, Qamar Zaman Kaira said that the factory PM said was sold in Dubai to set up new factory in Saudi Arabia was never actually sold. He said that the factory was actually defaulted and had loans from Bank of Oman and BCCI not yet paid. He added that the factory was liquidated and the amounts of loan were then paid to Bank of Oman and BCCI but that amount was never enough to pay the complete loans.
“The amount recovered from the liquidation was less than the payable loan so some of it was paid to Bank of Oman and BCCI while the case stood still on the remaining directors. These directors – PM must name them – were put on Exit Control List in Dubai because they were under debts. Then BCCI itself got liquidated and these loans were written off. So physically, Sharif family earned nothing from the Dubai factory and thus there were no profits at all to set up a new mill in Saudi Arabia with”, said Kaira.
The former minister also said that Supreme Court gave credence to the discussions held in talk shows or in public speeches. He said that Supreme Court had played talk shows in the same court room on a projector and therefore the discussions or statements in talk shows were considered admissible evidence.
He added that in corruption cases the principle is that the litigant only proves the ownership of a certain property in the name of the opponent and it is then up to the court and the investigative agencies that have to investigate it. “It is also then the responsibility of the defender to prove that the property was bought with legal money. These properties have already been admitted by PM’s family. So it is now up to them to clear their names”, he said.
Kaira also demanded that PM should name the directors of the Dubai mill that he claims to have sold and also name the buyer of that mill.
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