Professional Documents
Culture Documents
The names of Ch Shujaat & Ch Pervez Elahi were found among about 1,000 influential
businessmen and Army men who got a total of Rs18 billion loans written-off from the
government-owned banks during the first three years of the military government. The list was
submitted in the NA when Zafar ullah Jamali was the prime minister and Shaukat Aziz was the
finance minister.
The first loan of Rs70 million was outstanding against the Punjab Sugar Mills and was written
off by the National Bank of Pakistan along with the actual loan amount. The mill was owned
by Chaudhry Shujaat Husssain, Chaudhry Mansoor Elahi, Chaudhry Pervez Elahi, Chaudhry
Gulzar Mohammad, Chaudhry Wajahat Hussain, Chaudhry Sabhat Elahi, Mrs Qisara Elahi
(wife of Chaudhry Pervez Elahi), Mrs Kasur Hussain (wife of Chaudhry Shujaat Hussain), Mrs
Khalida Begum (wife of Gulzar Muhammad).
The second loan of Rs15 million was written off by the UBL outstanding against Punjab Sugar
Mills. The beneficiaries were once again Ch Manzoor Elahi, Ch Shujaat Hussain, Pervez Elahi,
Wajahat Hussain, Shafaat Hussain, Gulzar Ahmed and Mrs Qaisra Elahi, Khalida Begum, and
Kauser Hussain. The UBL once again wrote off another loan of Rs34.1 million outstanding
against the Spaco Private Limited. The beneficiaries were the same — Ch Pervez Elahi,
Shujaat Hussain, Manzoor Elahi, Wajahat Hussain, Sabahat Elahi, Mrs Kauser Hussain, Qaisra
Elahi.
It may be added that these loans were written off after declaring their industrial establishments
as “sick industry or on the pretext of bankruptcy.” Many of them denied having got their loans
written-off.
The political sources claimed that Shahbaz Sharif and Nawaz Sharif knew this troubling fact
about the Chaudhrys of Gujrat. Even Imran Khan had been showing the official documents of
another bank, which had also written off loans to get the Chaudhrys disqualified from
contesting the elections. But his desperate pleas were never entertained by the Election
Commission of Pakistan courtesy the might and clout these cousins enjoyed during the early
years of General Pervez Musharraf in power. The sources said, on the basis of their own
knowledge about the Chaudhrys loan write off, the Sharif brothers were agitating the issue of
loan write-off in the media with the public demand to put all the loan beneficiaries on trial after
recovering the written-off amounts.
The mighty Chaudhrys of Gujrat — Ch Shujaat Hussain, Ch Pervez Elahi and their family
members — reportedly got three different bank loans of Rs120 million written off from the
National Bank and United Bank of Pakistan during their heady days of power. This has been
revealed in the official record of the National Assembly library, which has now formally
confirmed that several top politicians and their family members had quietly got several bank
loans written off, which had been outstanding against their sugar and textile mills and other
industrial units.
These bank loans were mainly written off by the state-run National Bank of Pakistan and United
Bank Limited in the past. The official record available, which was placed in the NA in the last
one decade, revealed that a total of Rs30 billion loans were written off between 1985-2002,
which had been outstanding against the top politicians and powerful industrial groups of the
country. The list was compiled by the then caretaker government of 1993 led by Moin Qureshi.
In 2007, Auditor General of Pakistan revealed in its report that during the period 2002-2007, a
sum of Rs54 billion was written off by Musharraf government. Thus, total figure had reached to
Rs85 billions. But, now the recent official report to the NA during the question hour revealed
that the total figure of written-off loans had finally crossed over Rs100 billion, after adding the
loan amounts written off during two years of PPP government since 2008.
The official list of loan write-off beneficiaries of different periods since 1985 to 2002 revealed
that former speaker Gohar Ayub Khan’s family and former Chief Minister Balochistan Jaam
Yousuf, are also among other prominent politicians, who got the loans written off from the
banks.
The three mighty business families of Pakistan are also among the beneficiaries of these loan
write offs in the past. The former housing minister of General Pervez Musharraf -Abbas Sarfraz
is also among the beneficiaries who got a massive loan against his sugar mill written off. Lt
General Habibullah and Brig M Jan are among the list.
The Saifullah family of Lucky Marwat got four loans written off from different banks. The names
of Anwar Saifullha Khan, Javed Saifullah, Hamayun Saifullah, Arbab Saddaullha Khan, Shah
Jehan Khan, Nisar Khan are part of the list submitted in the NA in 1994 in response to a
question by MNA Barjees Tahir. First, the Saifullah brothers got loans written off against their
mill— Ms Kohat Textile Mills from the National Bank. The matriarch of the Saifullah family, Mrs
Kalsoom Saifullah also got a loan of Rs12 million written off from NBP against Ms Frontier Towel
Works, Kohat. Industrial bank also wrote off loan of Rs26 million of Javed Saifullah, Salim
Saifullah, Hamayun Saifullah and others against Kohat Textile Mills. The MCB also wrote off loan
against the Kohat Textile Mill. Jatoi family of Sindh also got a loan of Rs6.7 million written off
from UBL. The beneficiary was Dr Ghafar Jatoi and his brothers. Leghari family also got Rs67
million loans written off from UBL. The beneficiaries included Jafar Khan Leghari, Jamil Ahmed
Khan Leghari, Yousuf Khan Leghari, Tariq Khan Leghari, Atta Mohammad Leghari, etc.
Saigal group got the loan written off against Omaryar Limited, Lahore. The group got another
loan of Rs4 million written off from the UBL.
A loan of Rs10.3 million was written off by Investment Corporation of Pakistan. Iqbal Z Ahmed,
Mrs Saira Ahmed also got a loan of Rs5.5 million written off from United Bank of Pakistan.
Another small loan of Rs1.4 million got written off from UBL against Hassan Ali and company.
A loan of Rs18 million was also written off against Hashoo Holdings.
Meanwhile, investigations conducted by this correspondent after going through the official
record of the National Assembly Secretariat, where all these loan documents were placed from
time to time since 1994, even Daewoo Corporation of Pakistan was one of the beneficiaries of
such big loans written-off by the government banks. National Bank of Pakistan had written off a
loan of Rs10 million against Daewoo. The loan was outstanding against Kim Waoo Choong, Kim
Joun Sung, Lee Woo Bok, Yoon Nuke NEON, Chui Myoung Kul.
The list showed that Karachi-based businessmen have been treated with exceptional kindness
by the National Bank of Pakistan. According to the list of such people whose loans and principal
amounts were written-off during the last three years, National Bank of Pakistan wrote off
billion of rupees from taxpayers’ accounts. Most of the written-off loans went to the textile and
industrial giants of the country owned by mighty businessmen, politically influential, former
bureaucrats and military officers.
The big industrialists like Adamjee Industries owned by Farooq Sheikh, Mrs Shireen Farooq,
Mumtaz Sheikh, Tahir Sheikh got Rs448 million written-off from the NBP. Mohib Textile owned
by Asif Saigol also got Rs1.1 billion written-off in 2002.
The other big names included in the list are First Tawakkal Modaraba owned by Abdul Qadir
Tawakkal, Mohammad Rafiq Tawakkal, Alif Husain Mooney, Abid Hussain Rs621 million written-
off, National Frutctose Limited owned by Shairullah Durrani got Rs681 million written-off,
Glamour Textile Mills owned by Iftikhar Ahmed Malik got Rs533 million written-off and others.
Two foreign nationals also got the loans written-off.
Pakland Cement got Rs10 million written off, Cast N Link owned by Anwar Ahmed got Rs159
million written-off. Taha Spinning limited got Rs64 million written off.
Following is the list of mighty individuals and business tycoons whose loans were written-off in
majority of cases along with principal amount from National Bank of Pakistan (NBP).
KARACHI:
1. Zahid Fazal (Farah Enterprises) Rs09 m;
2. White Bird Chick Limited Rs8.2 m,
3. Advance Computer Technology Rs1.1 m,
4. Hamid D Habib of Balochistan Glass Rs6 m,
5. Latif Paul of TS Latisons Rs0.5 m,
6. Anisure Rehman of Zeb Enterprises Rs1.9 m,
7. Chaudhry Mohammad Younis of Ice Land Cold storage Rs16 m,
8. Mohammad Saleheen of Naveed Farbics Rs0.7 m,
9. Younis Rs0.5 m,
10. Mohammad Sultan Rs0.5 m,
11. Azhar Jamil of Sindh Industries Enterprises Rs0.2 m,
12. Mushtaq Ahmed Rs0.5 m, Asghar Ali Rs05 m,
13. Fida Mohamamd Rs0.5 m,
14. Mohammad Ismail Rs0.5 m,
15. Abdul Sattar Rs0.5 m,
16. Lal Mohamamd Rs0.5 m,
17. Mohammad Akbar Baloch Rs0.5 m,
18. Ghulam Farooq Rs0.5 m,
19. Amir Baksh Rs0.5 m,
20. Mohammad Naseem Rs0.5 m,
21. M Shoaib Rs0.5 m,
22. Liaqat Ali Khan Rs0.514 m,
23. Khaliq Farooqi Rs0.5 m,
24. Irfan Rs0.572 m,
25. Irfan Rs0.572 m,
26. Sikandar Rs0.5 m,
27. Asrar Hussain Sarbazi Rs0.56 m,
28. Abdul Hameed Rs0.576 m,
29. Mohammad Yaqoob Rs0.576 m,
30. Shafqat Rehman Rs0.575 m,
31. Shahbaz Aqeel Rs0.575 m,
32. Abida Sultana Rs0.509 m,
33. Mohammad Hanif Rs0.5 m,
34. Tarranum Baig Rs0.5 m,
35. Hidyatullah Farid Rs1.3 m,
36. Pak Hardware and Paint Rs0.9 m,
37. Mohammad Ali Rs0.5 m,
38. Sh Mohammad Zahid Rs0.5 m,
39. Mohammad Ayub Rs0.5 m,
40. Nadeem Ahmed Rs0.5 m,
41. Mushtaq Ahmed Rs0.517 m,
42. Mushtaq Ishaq Rs0.5 m,
43. Mir Mohammad Baloch Rs0.5 m,
44. Mohammad Altaf Hussain Rs0.5 m,
45. Abdul Khalil Rs0.5 m,
46. Abdul Rahim Khatri Rs0.517 m,
47. Imam Buksh Rs0.535m,
48. Abdul Hameed Rs0.576 m,
49. Wideyat Ali Rs0.5 m,
50. Rizwan Hasan Rs0.5 m,
51. Mohammad Sarwar Rs0.5 m,
52. Maqbool Hussain Rs0.5 m,
53. Ali Asghar Rs0.512 m,
54. Shahnawz Rs0.524 m,
55. Jawed Floor Mills of Rana Mohammad Siddiqui Rs20 m,
56. Muhammad of Madina Food Industries Rs1.45 m,
57. Syed Qmar Hai of Indus Poultry Farm Rs0.55 m,
58. Mian Maqbool Ahmed of Alam Shuttle Industries Rs2.432 m,
59. M Yousaf Khan of Progressive Industries Enterprises Rs0.7 m,
60. Abdul Rashid of Aziz Company Rs0.5 m,
61. Nasir Hussain Shah of Shah Cotton Factory Rs5.4 m,
62. Hazoor Khan Chanido of Chandi Floor Mills Dadu Rs0.7 m,
63. Pir Sarfrarz Ahmed of Nawab Shah Rs0.8 m,
64. Munawar Hussain Rs0.722 m,
65. Manzoor Hussain of Al Imran Hotel Ranipur Rs0.6 m,
66. Arjandas of Arjandas Rice Rs1.05 m,
67. Atta Mohamamd Marri of Mari Fish Farm Rs0.7 m,
68. Atta Mohammad Mari Rs1.4m,
69. S Zaheer Hussain Shah Rs0.9 m,
70. Mst Ashraf Begum Rs0.5 m,
71. Mohammad Idris Rs0.6 m,
72. Sardar Taj Mohammad Rs0.8 m,
PUNJAB
2000
In year 2000, the NBP wrote off many loans.
Peshawar:
Rs1 m of Mrs Aurangzeb of Ms Rahman Ice Factory was written-off.
FAISALABAD:
1. Maryam Fatama weaving factory, Rs 4.5m,
2. Ashfaq Hussain of Al Najaf Traders Faisalabad Rs 2.5m,
3. Ch. Mohamamd Tufail of Rehan Cotton Primahal Rs 1.4m,
4. Ms Sajja International F/abad Rs 0.5m.
MULTAN:
HYDERABAD:
1. Sardian Paints Rs 2m,
2. Al Amna Entp Rs 1m,
3. MS Prince Rice Rs 1.3m,
4. Niazi Ice Rs 1.44m,
5. Associates Rs 0.766m,
6. Jan Mohammad Rs 0.6m,
7. Abdul Jabbar Rs 0.7m,
8. Ali Gul Brohi Rs 1.1m,
9. Abdul Majeed Rs 0.9m,
10. MaliK Rice Mills Rs 2.7m,
11. Intasia Entp Rs 43m,
12. Expotex Limited Rs 49m,
13. Excelisor industries Rs 5.1m,
14. All Leather Limited Rs 1m,
15. Mumtaz Mohammad Khan Zai Rs 0.772m,
16. Sameer Garments Rs 0.8m,
17. Rafiq Saigal, Afsar Khan, got two loans of Allied Paper Industries Karachi to the tune of
Rs 35m written-off.
18. Abdul Rashid Rs 0.5,
19. Khan Ice Factory Rs 1m,
20. Ashraf Traders Rs 0.7m,
21. Anglo Universal Karachi Rs 0.7m,
22. Gulf Food Industries Rs 0.8m,
23. Makhdoom Traders Rs 0.5m,
24. MA Footwear Rs 1.1m,
25. Commodity Impex Rs 3m,
26. Fetisal Grain Rs 1.2m,
27. Aftab Garments Rs 0.6m,
28. Citizen Process Rs 0.5m,
29. Farm Products Rs 0.7m,
30. Javed Iqbal Rs 0.6m,
31. Masood Ahmed Qureshi Rs 1.14m,
32. Moash Traders Rs 4m,
33. Sabeena Enterprises Rs 8.9m.
LAHORE:
ISLAMABAD:
QUETTA:
KARACHI:
1. Amed Trading Rs 2.9m,
2. Farna Ice Rs 1.2m,
3. Mohamamd Yasin Rs 1m,
4. Shaffaf Ice Factory Rs 2.5m,
5. Anwar Iqbal Rs 1.1m,
6. Engineering Products Rs 1.5m,
7. Indus Oil Expellers Rs 3m,
8. Poshak International Rs 0.8m,
9. Eastern Garments Rs 21m,
10. Asif Owais Rs 0.6m,
11. Nazir Ahmed Rs 0.8m,
12. Mohammad Khursheed Khan Rs 0.5m,
13. Mohammad Ramzan Rs 1m,
14. General Traders Rs 10m,
15. Quality Builders Rs 1.5m,
16. Karachi Water Proofing Rs 0.9m,
17. Mohammad Ramzan Rs 0.6m,
18. Hukum Khan Rs 0.8m,
19. Syed Raziddin Rs 0.5m,
20. MS Tehseen Rs 0.5m,
21. Yousaf Cheema Rs 0.7m,
22. Jamil Rs 1.3m,
23. Shabbir Ahmed Junami, Tasveer Ahmed Jumani, Taheree Ahmed Jumani, Azshraf
Kahton, Salla Jumani, Shaukat Memon and Ms Shereen Jumani of Annud Textile Mills
got a massive loan of Rs 279m written-off.
24. Abid Hassan Rs 0.5m,
25. Haq Nawaz Dahri Rs 0.5m,
26. Shah Nawaz Khan Rs 0.5m,
27. Fizza Nazim Rs 0.8m,
28. Mohammad Hayat Rs 0.5m,
29. Nadeem Ahmed Rs 0.7m,
30. FB Burki Ice Factory Rs 1.4m,
31. Karachi Transport Corporation Rs 79m,
32. Babar Rafiq Rs 0.6m,
33. Nisar Ahmed Rs 0.5m,
34. Qaisruzzman Rs 0.6m,
35. Sajjad Hussain Rs 0.5m,
36. Nasir Rafiq Rs 0.5m,
37. Badar Ahmed Rs 0.5m,
38. Manzar Farreed Rs 0.6m,
39. Khalid Mehmood Rs 0.6m,
40. Saeed Ahmed Rs 0.6m,
41. Jawaid Textile Industries Rs 0.9m,
42. Mansoor Yousaf Rs 0.5m,
43. Mohammed Ismail Rs 0.5m,
44. Aamir Hashmi Rs 0.551m,
45. Sajid Ali Rs 0.7m,
46. Mushtaq Hussain Rs 0.5m,
47. Tahir Ehtasham Rs 0.6m,
48. Mohamamd Noman Bhatti Rs 0.5m,
49. Saleemuddin Rs 0.5m,
50. Anissudin Rs 0.6m,
51. Mobina Begum Rs 0.6m,
52. Miss Tabassum Shehnaz Rs 0.6m,
53. Mohaamd Yousaf Rs 0.6m,
54. Mant Lal Maulal Rs 0.67m,
55. Athar Batool Rs 0.78m,
56. Shahid Khan Rs 0.5m,
57. Azam Afraid Rs 0.6m,
58. Syed Qasim Hussain Rs 0.539m,
59. Syed Khaliluddin Rs 0.575m,
60. Abdul Qayum Rs 0.681m,
61. Mohammad Burhan Khan Rs 0.825m,
62. Syed Khuram Raza Naqvi Rs 0.543m,
63. Saad Ahmed Rs 0.6m,
64. Hasan Shakeel Rs 0.8m,
65. Ali Hassan Rs 0.534m,
66. Mohammad Irfan Rs 0.55m,
67. Shafiq Ahmed Rs 0.8m,
68. Khwajamoinul HasanRs0.666m,
69. Raza Hassan Rs 0.5m,
70. Syed Afaq Rs0.6m,
71. Syed Mohammad Nasim Ali, Rs0.6M,
72. Mohammad Aslam Rs 0.6m,
73. Syed Aslam Ali Rs 0.6m,
74. Asif Rehman Rs 0.665m,
75. Asif Rehman Rs 0.66m,
76. Asim Ilyas Rs 0.5m,
77. Adnanul HassaN Rs 0.8m,
78. Syed Rasheed Ahmed Rs 0.5m,
79. Monbina Afzal Rs 0.7m,
80. Kamran Rauf Rs 0.7m,
81. Najam Akthar Rs 0.8m,
82. S Sharafifuddin Rs 0.8m and
83. Imtiaz Hussain Zaid Rs 0.6m.
Khalid Beg Rs 0.5m,
84. Mohammad Aman Rs 0.6m,
85. Tariq Baloch Rs 0.666m,
86. Mohamamd Mobin Sheikh Rs 0.6m,
87. Ms Golden Plant Ind Rs 0.7m,
88. S Ali Ahmed Zaidi Rs 0.7m,
89. Siddiqi Rs 1.1m,
90. Ms Pakistan Rs 1.4m,
91. Ms Metropolitan Rs 190m,
92. Altaf Husain Shah Rs 0.5m,
93. Mehmoodul Hassan Rs 0.5m,
94. Mashiuddin Rs 0.9m,
95. Aitzazuddin Rs 1.55m,
96. Ihtashamuddin Rs 0.55m,
97. FS Aizuddin Rs 0.5m,
98. FS Ayazuddin Rs 1.6m,
99. Mrs Shaim Fatima Rs 0.6m,
100. Iqbal Shakoor Rs 0.6m,
101. Mujeebuddin Rs 0.5m,
102. Mrs Meharur Nisa Rs.7m,
103. Anwar Raza Khan Rs 0.7m,
104. Mohmmad Jamil Rs 0.9m,
105. Sardar Shakeel Rs 0.6m,
106. Rashid Ali Rs 0.6m,
107. Mohmmad Hanif Rs 0.8m,
108. Abdul Shakoor Rs 0.6m,
109. Adnan Husain Rs0.7m,
110. Ahsan Anjum Rs 0.66m.
111. Fareed Gul Rs 0.6m,
112. Khuda Bux Rs 0.5m,
113. M Faisal Rs 0.7m,
114. Basir Alam Rs 0.6m,
115. M Waseem Rs 0.65m,
116. Mrs Rubena Rs 0.665m,
117. Shahbaz Aqeel Rs 0.659m,
118. Sharjeel Qaider Rs 0.5m,
119. Tahir Anjum Rs 0.655m,
120. Abdul Azim Rs 0.5m,
121. Abdul Razak Rs 0.5m,
122. Akhtar Hussain Rs 0.5m,
123. Asif Sormoo Rs 0.554m,
124. Fayyaz Ahmed Rs 0.544m,
125. M Saleem Rs 0.5m,
126. Sadia Bano Rs 0.5m,
127. Moizuddin Rs 0.5m,
128. Adul Haq Rs 0.54m,
129. Mrs Kasur Perveen Rs 0.5m,
130. Mohammad Rafiq Rs 0.55m,
131. Mohammad Saleem Rs 0.5m,
132. Rana Mohamamd Rs 0.545m,
133. Rukhsan Begum Rs 0.5m,
134. Rehan Shahid Rs 0.5m,
135. Tahir Raza Rs 0.5m,
136. Ashifaq Ahmed Rs 0.5m.
2002
BHAWALPUR:
Shafi Oil mills,
Ahmed Industries,
Goheer Oil mills,
MULTAN:
1. Union Straw paper board,
2. Jail traders,
3. Omar Hardware,
4. Khan Brothers cotton,
5. Ali Intp,
6. NK Medicot private limited,
7. Al Munir textile private limited and
8. Sadiqabad textile mills.
9. Sinopak.
A few of those who got loans written off were genuine cases as they suffered sick industry or
bankruptcy. Their loans were written off according to rules and prevalent law. Some of the
beneficiaries, however, submitted bogus claims and the banks did not follow rules and
regulations in writing off their loans.