Your honor Chief Justice of Pakistan,
Being a concerned Pakistani, I am compelled to write this to you and share some of the information that I was privy to, when I worked in Samba, Saudi Arabia from 1984-2003, and there after. Please note this is an attempt to explain to the honorable Chief Justice of Pakistan how Sharif family found the funds to build and carry out business and personal transactions? I say this based on the following information that I am privy to:
Just to provide you some background, Citibank had minority ownership and the management contract of Samba until 2003 when it sold its share and Saudi American Bank became The Samba Financial Group, wholly owned by Saudis (It is the same bank that also has branches in Pakistan).
As I said earlier, Samba was managed by Citibank until 2003. As part of the management process, Citibank`s audit teams would periodically audit the lending portfolio of Samba This audit entailed, among other things, review credit files to ensure that there is no inherent weakness in the credit and the risk was acceptable. In one of the audits around in the mid 90s, one of the team audit team members, who incidentally was a Pakistani, revealed to one of my staff that he has reviewed a file in Jeddah in the name of Nawaz Sharif. He said that Nawaz Sharif has been granted a loan to start business in Saudi under a guarantee of the Royal family member.
Around 2006, I was visiting Saudi Arabia and met the CFO of one my ex-clients Al Tuwairqi Steel in the Eastern Province of Saudi Arabia. He informed me that they have bought one of the two Steel mills from Nawaz Sharif family at a price of US $100 million. He said Al-Tuwairqi Steel has bought a steel factory from Sharifs to have a presence in the Western Region of Saudi Arabia. Just to remind you that Tuwairqi Steel was in an expansionary mode at the time and they had also bought Pakistan Steel Mills and set up small plant in Karachi.
The above two transactions can be verified from Samba and Al-Tuwairqi Steels.
The reason for my divulging this information is the following:
- To quell the seemingly wrong propaganda that Sharifs didn’t have the means to build businesses overseas and have laundered money from Pakistan.
- To Provide the honorable court the leads, upon which further investigations could be made.
- To help the Sharif Family in their pursuit for justice and deceitful propaganda by PTI and likes.
You may ask me a question as to my purpose of trying to defend Nawaz Sharif`s government? The answer is the following;
- Irrespective of what Imran Khan says, the world trusts Nawaz Sharif to lead Pakistan. So much so the Chinese President said in his address to the joint session of the Senate and the Parliament that China trusts Nawaz Sharif`s government.
- People party has repeatedly failed
- Imran Khan has perceived links with Talebans.
- The religious parties have only built a franchise for themselves and have no agenda that can benefit Pakistan in any way, under the current scenario.
- Pakistan is on the high and is on way to developing the critical infrastructure that this country needs to stand on its feet.
- There is visible development in the economic sector that can be seen by all, including some of the widely acclaimed international institutions, like IMF, World Bank and others.
It will be very unfortunate that through wrong propaganda and a courts decision and elected government, who is genuinely trying to uplift Pakistan is removed and a sitting Prime Minister is removed.
Now you may ask as to why Nawaz Sharif has not made this statement in the Court. My sense is that it could be the wish of the Royal family member not to divulge the name at the request of the guarantor.
I am available to make the above statement under oath, if the honorable Court so desires.