In his confessional statement on April 4, 2000, in connection with the Hudaibya Papers Mills Limited (HPML) case, Dar said that he had good relations with Masood Ahmed Qazi since 1970 and during his stay in London in early 1970s, he was staying with the Qazi family at Ilford, Essex (1970-72).
In his statement submitted before NAB that rocked the political corridors, Dar said, “Masood Ahmad Qazi belonged to a middle-class family and he used to treat me as one of his family members.”
Dar went on to say, “As far as their financial status in the year 1992 is concerned, according to my information there was no significant improvement in the previous status of the middle-class family.”
The finance minister stated that he established a Modaraba company named First Hajveri Modarba Company (FHMC), a Non-Banking Financial Institution (NDFI) in 1990 and the company started its operations next year with a paid up capital of Rs150 million, Dawn news reported.
He said that Nawaz Sharif had been his batchmate at Govt College Lahore during 1964 to 1966, “However, we had no connections at the time.” He came closer to Sharif family in 1990 after he was being recognised at the national level, particularly for his suggestions on national budgets, reads the statement.
According to the document, Dar introduced the Qazi family to Nawaz Sharif and Shahbaz Sharif in 1990 at a function in Lahore.
“In early 1992, Mian Nawaz Sharif, who was then Prime Minister of Pakistan, contacted me and requested to provide a credit line of approximately Rs100 million to the business concerns of his family, from my Modaraba… subsequently, he sent me photocopies of the passports of Mrs Sikandar Masood Qazi, Nuzhat Gohar, Talat Masood Qazi and Kashif Masood Qazi (family members of Masood Qazi).
“He asked me to open/operate foreign currency accounts in their names in different banks with the foreign currency funds provided by the Sharif family,” it reads.
Following the presentation of details of transitions and other financial matters, Dar said: “They (Sharifs) made all this arrangement as they could not have explainable sources of these funds which ultimately landed in one of their companies.”
On the other hand, Ishaq Dar while clarifying his position in the backdrop of Hudaibiya Paper Mills case expressed that the confessional statement was taken under duress.
Pakistani currency saw minor adjustment against global currencies on April 17, 2024. US dollar was being quoted at 277.4 for buying and 280.4 for selling.
Euro comes down to 293.15 for buying and 296.1 for selling while British Pound stands at 344.25 for buying, and 347.6 for selling.
UAE Dirham AED was at 75.4 and Saudi Riyal's new rates was at 73.30.
Currency | Symbol | Buying | Selling |
---|---|---|---|
US Dollar | USD | 277.4 | 280.4 |
Euro | EUR | 293.15 | 296.1 |
UK Pound Sterling | GBP | 344.25 | 347.6 |
U.A.E Dirham | AED | 75.45 | 76.2 |
Saudi Riyal | SAR | 73.3 | 74.05 |
Australian Dollar | AUD | 181 | 182.5 |
Bahrain Dinar | BHD | 739.38 | 747.38 |
Canadian Dollar | CAD | 201 | 203 |
China Yuan | CNY | 38.45 | 38.85 |
Danish Krone | DKK | 40.45 | 40.85 |
Hong Kong Dollar | HKD | 35.57 | 35.92 |
Indian Rupee | INR | 3.33 | 3.44 |
Japanese Yen | JPY | 1.86 | 1.94 |
Kuwaiti Dinar | KWD | 902.26 | 911.26 |
Malaysian Ringgit | MYR | 58.24 | 58.84 |
New Zealand Dollar | NZD | 164.75 | 166.75 |
Norwegians Krone | NOK | 25.38 | 25.68 |
Omani Riyal | OMR | 722.1 | 730.1 |
Qatari Riyal | QAR | 76.37 | 77.07 |
Singapore Dollar | SGD | 204.5 | 206.5 |
Swedish Korona | SEK | 25.72 | 26.02 |
Swiss Franc | CHF | 307.11 | 309.61 |
Thai Bhat | THB | 7.61 | 7.76 |
Copyright ©2024. Reproduction of this website's content without express written permission from 'Daily Pakistan' is strictly prohibited.