The fact that the lists made available by the banks are released by the caretaker governments of Moeen Qureshi, Meraj Khalid and Benazir Bhutto were not complete is also evident from the following exemples:
The list of written-off and bad loans released by Moeen Qureshi included the name of Sadruddin Hashwani and Hashwani Hotels, as beneficiary of Rs 120 million loan written-off by ICP. However his name does not appear in any of the subsequent lists.
The list of Benazir Bhutto does not carry the name of Fauzi Ali Kazim who was sanctioned a Rs one billion loan on a telephone call by Asif Zardari in 1988-90. A case was registered against Asif Zardari, in 1991 for using his influence on Habib Bank to sanction the loan. The list of loan defaulters published by Benazir Bhutto did not carry the name of Fauzi Ali Kazim but it cropped up in the list published by Meraj Khalid, a few months later. Ironically, the loan sanctioned to Fauzi Ali Kazim also appeared as a bad loan in the annual financial accounts of Habib Bank for 1996. Yet Fauzi Ali Kazim is in full ownership of duty free shops built with this loan and in November 1997 when he was arrested in Islamabad, allegedly for possession of alcohal, the lady accompanying him described him as one of the most large-hearted persons she had ever met.
Major defaulters among the politicians were Chaudharies of Gujrat who were defaulting in payment of six loans worth Rs 109.66 million against Phalia Sugar, Punjab Sugar and Sapco Limited, Ittefaq group Rs 83 million against Ittefaq Foundry, Saifullah's Rs 37.3 million while Zardari group was in default of Rs 7 million.
|S.No||Name||Amount Borrowed||Default (Rs in Millions)|
|5||Abdul Shakoor Kalodia||1,215||1,215|
|9||Arabian Sea Enterprise||950||913|
|12||Farooq A Sheikh||632||632|
|S.No||Name||Amount in Default (Rs. in Million)|
|6||Abdul Shakoor Koladia||1,254|
|7||Fauzi Ali Kazim||1,159|
|16||Arabian Sea Enterprise||626|
Apparently, sometimes after his father's death, Aftab Ahmad found that cheating the banks was far more profitable than earning livelihood industriously. Very soon there was no bank from whom he had not borrowed, by pledging the same collaterals. He got 11 loans worth Rs 1,192 millions from Habib Bank Limited, circle A-1, Karachi only. After the publication of the defaulters list by Moeen Qureshi, Mian Aftab Ahmad managed to dispose off his assets and is living off comfortably in Europe, operating a hotel he has set up with money siphoned from Pakistani banks.
living in Karachi had resorted to credit sanctioned by Habib Bank Gujranwala
speaks about the professional integrity of the senior executive of Habib
Bank. One of senior executive Yunus Habib was later arrested and is currently
languishing in jail while another senior executive Safdar Abbas Zaidi was
appointed minister by Benazir Bhutto, ostensibly, for not testifying against
Asif Zardari, in the case about the loan sanctioned to Fauzi Ali Kazim.
The sick mill therapy
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Who gets the bank lons
Barons of Pakistan