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DR Mubashir Hassan, the finance minister in Zulfikar Ali Bhutto’s cabinet from 1971 to 1974, said on Monday that Prime Minister Nawaz Sharif’s family did not send money ‘legally’ to start their business in Dubai during those years.
Talking to a television channel after the Mr Sharif’s speech in parliament, Dr Hassan claimed that “the PM is lying”; they (the Sharifs) were “neither granted permission nor did they seek any”. Although they came to meet him once, he refused.
“In those days it was impossible to send money legally without the State Bank’s approval,” he said.
“If they smuggled money or did money laundering, then it is a different case but they did not get State Bank’s consent for sending money abroad,” said Dr Hassan.
The prime minister had claimed in his speech that in 1972 the then government had nationalised the Ittefaq Foundry ‘without giving (his family) a single penny’ in return for the machines and land or as compensation.
The PM said that during those days his father, like other industrialists and businessmen, went to Dubai and set up the Gulf Steel Mill. The mill was inaugurated by the then ruler of Dubai.
“In April 1980, this mill was sold for 33.37 million dirhams,” said the PM.
Published in Dawn, May 18th, 2016
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Comments (89) Closed
May 18, 2016 08:53am
Dr, Hasan is honorable man and I personally will believe him rather than NS.
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May 18, 2016 08:55am
Sharifs lying about something??? Very hard to believe!!!
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May 18, 2016 08:55am
Wonderful. Now they say, Don't derail the democracy? Wonder which democracy? The one that works for 5% rich and powerful, or the one that makes 95% suffer? May Almighty help people of Pakistan.
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May 18, 2016 09:01am
PM doesn't gets any green signal this time. Better he give answers against all outstanding issues
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May 18, 2016 09:22am
The PM has categorically stated that the Sharif family has never sent any money abroad! The foreign operations were financed through loans from banks and help of friends. It is quite obvious that a minister of the Bhutto administration would make a statement supporting his party's perverse and criminal intentions.
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May 18, 2016 09:31am
After all those revelations and humiliation, a PM of a civilized nation stands no moral grounds to rule. He can easily be removed from his office by no-confidence motion in the parliament. But again this is not going to happen, because PPP is still hand in glove with NS despite showing their opposition just to fool the nation.
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May 18, 2016 09:31am
So he was the one who nationalized all assets. What a useless policy that was. How investments can be encouraged if state keeps occupying private investments in the name of nationalization?
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May 18, 2016 09:35am
This is a open truth that everyone knows. Sharif family has billions worth investment abroad and they cannot show even a single prove of money transfer from Pakistan. Simple money laundering case of black money.
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May 18, 2016 09:57am
The whole Pakistan has been paralaised few families ?
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May 18, 2016 10:01am
Pakistan is seventy years old , sharf family has been in power for thirty five year ,and now the their children are ready to take over.
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May 18, 2016 10:15am
Every one knows this, and this is exactly the question being asked which he is deliberately not answering and beating about the bush
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May 18, 2016 10:19am
Give a single example that this family has not cheated the country as a whole and used illegal means to promote thmselve to this level.
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May 18, 2016 10:24am
Those days were very tough, to take out dollars legally was a big hassle. Miah Sahib must have taken money out through illegal channel.
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May 18, 2016 10:36am
That is not a surprise. You can not hide the truth by lying.
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May 18, 2016 10:44am
This is called money laundering and its an international crime.
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May 18, 2016 10:44am
whole nation knows NS is lying, but who will catch big fishes in pakistan,it is a big question
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May 18, 2016 10:45am
Any one may say whatever he likes and howsoever correct it is......but as they say...Boss is always right and the PM is the boss ..also because might is right ..also because of friendly opposition etc.
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May 18, 2016 10:57am
PM should tell the nation source of families income in establishing Dubai steel mill in Dubai.
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May 18, 2016 11:01am
How many Pakistani have taken out their money legally from this country???? Every body with fame and name in this Country has a Son a Daughter a Brother or a sister that is sent money for education and later this family members send back the money to support their Families. Often it leaves illegally some time aslo through proper channels as their is nothing wrong in paying for you children's education. It always comes back leagaly and is declared
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May 18, 2016 11:07am
Everyday the dig is becoming deeper in deeper with new findings.
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May 18, 2016 11:15am
The noose tightens, while the holes in the PM's stories get bigger and more visible!!!
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May 18, 2016 11:16am
There is nothing legal about this corrupt to the core PML-N government and its leadership.
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May 18, 2016 11:20am
Slowly Slowy the sharif family is getting into quick sand. each statement they make comes out as a lie and they get trapped more. Lets hope this time they are not saved by an NRO and all the money comes back to Pakistan
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May 18, 2016 11:34am
It is correct. In those days SBP Rules & Regulations were quite strict. The law of land did not allow anyone to send money outside Pakistan. History is never changed. The events of those days are on record in Government papers. So Sharif family and all others were forced to bring & send money illegally. The people, who were doing exchange business in 1970's know very well and can confirm all this. So all this hue & cry of opposition members is just political. Leg pulling is moto of our politicians. If they are in power, what they do is nice and when they are in opposition, they blame nice things of in power politicians. In fact they are playing with nation, and doing their own personal matter straightened.
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May 18, 2016 11:35am
I support NS and also pray for his victory for years to come. He is the only one can put this country on the road of progress
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May 18, 2016 11:43am
@Philosopher (from Japan) Still we as Pakistanis not understanding the regime of NS (who himself think King of Pakistan).... Yesterday i was shocked to see the gathering at Mulana F jalsa... how these poor people betrayed... I am surprised that how much money been utilized to buy support from other political leaders and STILL WE ARE SLEEPING. I am ashamed and embarrassed on our intelligence and thinking capacity. God knows when we have quality and patriot leaders.... Still IK is the only hope.....
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May 18, 2016 11:55am
Unfortunately knowing every thing, this nation keeps on voting for these leaders !!!!
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May 18, 2016 11:55am
Mr president's aim seems to accumulate wealth. Poor people dont know if you accumulated your billions legally or illegally, poor people are amazed why you didnt became businessmen if you love money? Why you came in politics?
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May 18, 2016 12:10pm
Which institution has the authority to punish the PM for his corruption in Pakistan ? CJ,election commission,parliament or the arm forces?they all come under his authority
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May 18, 2016 12:23pm
nothing will happen. This is pakistan.
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May 18, 2016 12:24pm
'We have done nothing wrong', PM Nawaz Sharif’s family reacts to leak.
Of course not, they only indulged in small hanky-panky, like lying that after nationalizing by the Bhutto government, they went out and established a mill in Dubai, where did they get the money from, this has not been clarified.
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May 18, 2016 12:36pm
The revelation of Dr. Mubashir Hassan strengthens the position taken by the opposition parties. Dr. Mubashir is the most honest person and man of principles. He never bowed before the dictators like General Zia or General Ayub Khan. Now the PM is stuck up in a narrow street. It is very difficult to come out of it. Only a miracle can save him.
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May 18, 2016 01:16pm
Mubashir Hasan correct. In those days it was just impossible to send money abroad without SBP approval. Even, dollars were not allowed to be traded in open market. After nationalisation, Nawaz"s father , probabaly used hawalas to transfer the amount to set up the steel mill in Dubai For readers information, the dollar was trading around 15 rupees
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May 18, 2016 01:38pm
Sharif family , please share your magical trick with poor Pakistanis , how you become a billionaire , if nothing was left with you ,
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May 18, 2016 02:01pm
The government needs to go as it has lost all moral authority. Nawaz sharif is endangering democracy, if there is any in the country. Actually there is just autocracy in the name of democracy, common men aspires to live respectable life but this system has made it impossible, this corrupt system should be wrapped up.
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May 18, 2016 02:10pm
The fact that his children his wife and himself all gave different dates on the purchases of the London flats is proof enough that he was economic with the truth...this PM has lost all moral authority to continue, he is evading the truth like the plague, ask yourself why? If he has done nothing wrong why is he ducking and diving? I think Raheel Shareef needs to put an end to this one way other the other...its not good for Pakistan.Also now he is looking at another visit to the UK
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May 18, 2016 02:12pm
@OSD Yes and the Shareef family have not been caught lying time and time again have they!!!
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May 18, 2016 02:14pm
"DR Mubashir Hassan, the finance minister in Zulfikar Ali Bhutto’s cabinet from 1971 to 1974, said on Monday that Prime Minister Nawaz Sharif’s family did not send money ‘legally’ to start their business in Dubai during those years"
There is no justifications for Nawaz Sharif to continue as PM. All hopes lost. NS should immediately resign & allow a fresh voting process in the assembly to choose a new PM. Peoples have no faith in NS any more.
Further, the work of a clean investigation should be conducted under the supervision of Pakistan Army, all found guilty should be jailed for corruption & banned from taking Part in national & provincial politics for life. No persons being investigated should be allowed to leave Pakistan until the completion of Army led inquiry.
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May 18, 2016 02:18pm
it proved that father of prime minster sent money by money laundering.
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May 18, 2016 02:25pm
We have 2 parallel system working in country banking and Hawala system since 40 years... People forget about Kalia? Musharraf arrested them for money laundry and closed there Hawala business
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May 18, 2016 02:29pm
More Nawaz Shareef and his family try to cover up their corruption, the bigger the hole they will dig for themselves.
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May 18, 2016 02:44pm
There are lies all around. The day Panama papers leaked, P.M. either is avoiding
questions or his ministers are attacking others and defending the P.M.
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May 18, 2016 03:33pm
Not surprised at all......I'll believe Dr. Mubashir Hassan over Nawaz Sharif....any day.
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May 18, 2016 04:03pm
Where does he say he sent money out of Pakistan in 1971 . He said that his father started the company not him. So why does PM has to answer for his father's action ?
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May 18, 2016 04:23pm
After this rrevelation the PM has been proved wrong.
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May 18, 2016 04:34pm
If democracy means freedom to loot and plunder the country than by all means I am a happy man. Public needs to come out of its shell and bring order to chaos. The state dept have failed us with their silent treatment.
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May 18, 2016 04:34pm
@Accountability I would say more like 99% versus 1% and Im being generous. Probabaly more like 99.9% and 0.1%
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May 18, 2016 04:39pm
PM is just trying to make fool of the nation and wasting nation's time. He has already lost credibility and moral authority to remain as PM anymore. His resignation is what the nation wants. Pakistani nation has already suffered a lot and will be happy now to say "Good bye, Mian Sahib".
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May 18, 2016 05:41pm
There is an assumption here and in the comments that NS used money from Pakistan to build a business in Dubai. This is highly unlikely, it is more likely that funding came from elsewhere.
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May 18, 2016 05:44pm
Dr Mubashar Hassan Is honorable person and respectable officer. We trust him and he desirve upmost respect.
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May 18, 2016 06:19pm
@rehan : your comments does not justify PMs behaviour towards Pakistani people.
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May 18, 2016 06:22pm
@Taimor: So in this way, his late father established the business through illegal means and therefore, must be reprehensible in money-laundering case and all his or his family assets must be taken away by Govt. immediately. thats by NS own statement.
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May 18, 2016 06:24pm
@Lucky Star : Yes, that's for sure, He [NS] is the only one can put this country on the road.
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May 18, 2016 06:34pm
Mr. Sherif setup a steel mill from scratch without a penny in hand and earned clean profit of 33.37 million dirhams by selling it in more or less 5 years period. Wow! Why notNS opens a school to teach these skills. People from all over the world join by paying millions of dollars tuition fee.
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May 18, 2016 07:29pm
More questions coming out of 'lies'...Why not accept your crime and face it??
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May 18, 2016 08:49pm
@Masood Very true. If people do not understand importance of their vote and keep giving it away to corrupt candidates, than they deserve the misery and chaos they are facing for decades. Time to assess all future candidates whether he/she is Hungry for Power, Hungry for Money or Hungry to Serve the people. Time to use cool head (not slogan head) to make right decisions for self, children and the country.
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May 18, 2016 10:03pm
Although majority of educated Pakistanis are politically enlightened to make an informed decision when electing their representative. However the same can not be said for the illiterate. Since the majority of our nation is illiterate and considering that many educated middle and upper class Pakistanis don't bother to vote; it's futile to hope for positive change. Unless there is meaningful and constructive drive to improve the education along with law and order; we will continue to see the same elite class ruling Pakistan.
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May 18, 2016 10:08pm
In 1972/1973, NS was just 22 yesrs old. He is going to come out of this mess without a scratch no matter how many ministers of bhutto erra give their interviews to tv channels for cheap popularity because they are all hiding the facts and support PPP, a corrupt party by any account.
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May 18, 2016 10:47pm
@Nadeem Every accused have right to defend, it is the job of courts to see if he is lying or telling the truth.
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May 18, 2016 10:56pm
@Nizamuddin Ahmad Aali , Being honest and being capable is two different things. He is the one who ruined the Pakistani economy.
If I was Nawaz ' father I would have taken my hard earned money and run to any place save.
If I was Nawaz , I would say I was young my dad was running the show , how he manage his financial affairs and how he set up the mill I do not know.
Another option, he would request current Dubai king to say my father lend a d invested the money in the Steel Mill. Who would challenge his words? All our leadership has invested in Dubai and they all live there 6 months a year.
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May 18, 2016 11:02pm
@Accountability , unfortunately, in each ot almost all democratic countries only 5 % filling 95% of the population. If not directly through political power then through fat "donation" during the election. And do not forget the lobbying groups of each or almost each industry and indirectly wealthy person.
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May 18, 2016 11:05pm
Dr. My usher Hassan a civil engineer by occupatin was a financed minister? I am amazed that Ayoub khan and ZA Bhutto could not find a person with economics or accounting credentials. No wonder, country was divided in 1971 because uneven financial policies of the then government.
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May 19, 2016 03:09am
Allegations of corruption is not crime untill proved so.The present case seems to be Dubai steel mill established and
sold more than three decades back,most likely by Sharif's
father,who was a business man of a standing.Then how he
managed investment as reportedly PSB was not allowing
foreign investment.The simplest and unverified answer is
through money laundering,but there could be something
more than that,that is business relations,acumanship and
standing of his late father to arrange investment in the up-
coming rise of Dubai,a business center.Also think whether
Nawaz Sharif had any political and influential status more
than three decades back to commit corruption and invest in
far off in Dubai.It is difficult to prove corruption since his
father is no more alive.Sharif as the PM has obligation to
clear his name and satisfy people there was nothing wrong
as per his knowledge and conviction.Till then allegation is
no crime at all.
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May 19, 2016 03:10am
@Freeman Yes. And IK should teach young one on how to snare billionair's daughters to acquire large properties as gifts and to live a lavish life with no apparent source of income.
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May 19, 2016 08:36am
If this is Jamhooriat, then I don't want it. I would much rather have a dictator like Musharraf than the two most recent supposedly democratically elected PMs.
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May 19, 2016 09:04am
DR Mubashir Hassan, the finance minister in Zulfikar Ali Bhutto’s cabinet from 1971 to 1974 claimed that “the PM is lying”; they (the Sharifs) were “neither granted permission nor did they seek any”. Although they came to meet him once, he refused. He added that “If they smuggled money or did money laundering, then it is a different case but they did not get State Bank’s consent for sending money abroad.
It is clear cut case of violation of Article 62 / 63. He should be thrown out from the office.
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May 19, 2016 09:17am
If everything is clear in the accounts of M.M.Sharifs & their families, then why it is not brought in front of the nation in a clear statement with evidences. Otherwise eventually the law will prevail as for every normal citizen by hook or by crook with a hand of patriotic hero of the nation, presently being appraised everywhere to save the country.
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May 19, 2016 01:45pm
Lie in Pakistan is not a crime when it is told by Prime Minister, Minister or any other person belonging to category of high-ups. Prime Minster of Pakistan occupy the highest position amongst the high ups in Pakistan therefore he can lie as a matter of right. No body can take exception what our Prime Minister has uttered in the Parliament on Panama leaks issue.
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May 19, 2016 02:42pm
I am no fan of PML (N) or for that matter any other political party, however, if Sharif's business was nationalized without any compensation and denied legal transfer of any left over funds too - what do you expect them to do - they are Sharifs not saints.
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May 19, 2016 02:51pm
@miristan , a small correction "black money" since it was never declared then or even till now!
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May 19, 2016 02:57pm
@Imran It's perfectly legal though, if one can manage. No court in the world would punish a person for that.
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May 19, 2016 04:22pm
Pakistan Army Zindabad
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May 19, 2016 08:24pm
@Kaleem how inverstments... can be encouraged if our politicians are money laundering and keeping their loots abroad. China was successful in Nationalization policy and results are in front of you. They have death penalty for corruption.
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May 19, 2016 10:32pm
No institution is panacea . All institutions are only as good as the people who are in charge of them . This applies to democracy also.
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May 19, 2016 10:39pm
@Arshad , Canada So you are advising Nawaz Sharif to tell another lie on top of the many lies he has already told. These suggestions and action are both unethical and detrimental to the interest of Pakistan.
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May 19, 2016 11:46pm
PM Nawaz should be impeached ASAP. I want to get rid of this pseudo democracy that has bought disgrace,poverty, unemployment, insecurity and so on and so forth to the nation. We want the SC and the Army to intervene to get rid of this corrupt regime.
Long Live Pakistan !!!!
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May 20, 2016 09:24am
It was the economic policies of Dr. Mubashsir Hussain and ZA Bhutto that completely destroyed the economy of Pakistan. From an economic powerhouse it has been reduced to the begging status that it is in now. Nationalization did not take place to improve the lot of the workers (are they better of today than before) but to loot the resources of these 22 families that were the backbone of the economy. How many land reforms did the government carry out. Even ZA Bhutto with all his power was scared to go up against the jarirdars. The industrialists were soft targets
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May 20, 2016 11:12am
@Accountability. stop this fraud accountability. all govt. employees both civil and military from top to bottom r corrupt. can u dare to demand audit of defence deals of pakistan.
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May 20, 2016 11:54am
Great revelation by Dr. Hasan. Dr. Sahib is an honorable person & honest person. What ever he said is truth. No one can believe on the statements of Nawaz Sharif.
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May 20, 2016 12:49pm
Nawaz Sharif lost his right to be the Priminister,of the country due to hide evidence about his family assets, he may be disqualify from the NA seat. that action could be taken by speaker national assembly, if any will is there. this is not meant to derail of democracy. the new honest person may be appointed by his party, and make arrange to investigate the allegation of money laundering and acquiring foreign assets of his family.
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May 20, 2016 02:04pm
Why are we waiting for answers?
What better they can bring?
Utho Jago Pakistan.
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May 20, 2016 02:32pm
Sharif got majority of his wealth outside the country and being disburse in his children name. He never declared his actual belonging therefore is a automatic disqualified.
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May 20, 2016 04:25pm
shocking news narrated by dr. hasan clearly depicts that the steel mill was setup in the dubai by father of the PM by using illegal menace. now every sees to the NAB and FIA simultaneously apex court
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May 20, 2016 05:35pm
@Bonkers ..what is HARD to believe? The whole family has been lying openly since Panama Leaks almost about every thing.
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May 20, 2016 07:58pm
PPP and PML-N are all in this together, like all political parties, eventually they will strike a deal and nothing will ever come out of it. They are politically connected, rich and powerful, they are the untouchables.
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May 20, 2016 09:39pm
@Richard Thomas Right on the money! Nationalization of industries and educational institutions destroyed country's progress and pushed country at least 30 years behind the rest of the world!
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May 20, 2016 10:15pm
@OSD Not that I am defending ex-minister Mubashir Hussain, you could be totally right about pro-PPP intention nonetheless being said that Sharifs have a lot of explaining to do but would it matter? Nopes.
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May 20, 2016 11:12pm
Mian Sahib, after Dr Mubashir Hassan's statement, once again start fabricating another lies to conceal your lie in parliament!
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May 21, 2016 12:40am
This is shame. Pakistani nation is quiet they should put all these 200 corrupt politicians in Jail. They don't deserve to serve. Why our Army is not taking any action. It is a surprise
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