Sharif family claims it has paid mark-up

Published November 8, 2014
- Photo courtesy: LHC official website
- Photo courtesy: LHC official website

LAHORE: A spokesman for the Sharif family claimed on Friday that the Ittefaq Group had paid the mark-up on a loan it had obtained from a consortium of banks.

The Lahore High Court had directed on Thursday the Ittefaq Group to pay mark-up of Rs3.5 billion on a petition filed by a lawyer of the consortium comprising National Bank of Pakistan and other financial institutions.

The spokesman said the factual position was that all banks had been repaid hundred percent of the loan’s required amount, and, in fact, these industrial units had themselves approached the court to ensure entire loan payment to all banks.

He said it was for the first time in the history of Pakistan that any family or industrial unit had returned its complete loan, along with its markup, without getting it waived at all.

Published in Dawn, November 8th , 2014

Opinion

Editorial

Business concerns
Updated 26 Apr, 2024

Business concerns

There is no doubt that these issues are impeding a positive business clime, which is required to boost private investment and economic growth.
Musical chairs
26 Apr, 2024

Musical chairs

THE petitioners are quite helpless. Yet again, they are being expected to wait while the bench supposed to hear...
Global arms race
26 Apr, 2024

Global arms race

THE figure is staggering. According to the annual report of Sweden-based think tank Stockholm International Peace...
Digital growth
Updated 25 Apr, 2024

Digital growth

Democratising digital development will catalyse a rapid, if not immediate, improvement in human development indicators for the underserved segments of the Pakistani citizenry.
Nikah rights
25 Apr, 2024

Nikah rights

THE Supreme Court recently delivered a judgement championing the rights of women within a marriage. The ruling...
Campus crackdowns
25 Apr, 2024

Campus crackdowns

WHILE most Western governments have either been gladly facilitating Israel’s genocidal war in Gaza, or meekly...