Sharif family pay up Rs 271 million to banks
November 17, 1999, 21:30 Hrs (IST)
Lahore: Ousted Pakistani Prime Minister Nawaz Sharif's family, which owns sugar mills, has paid back Rs 271 million it had borrowed from a consortium of three leading banks.
Habib Bank has issued a settlement certificate in favour of the seven directors of Ramzan Mills -- Mohammad Sharif, Shahbaz Sharif, Nawaz Sharif, Abbas Sharif, Shamim Akhtar, Sabiha Abbas Sharif, and Hassan Nawaz Sharif, NNI news agency reported. The money was owed to a consortium including Habib Bank, the National Bank of Pakistan and United Bank Limited (UBL).
The management of the mills, in a letter to the chairman of the Accountability Bureau, has requested deletion of the Sharif family members' names from the list of wilful defaulters.
Copies of the settlement certificate and the letter have been sent to the Corps Commander Lahore, presidents of the National Bank, the UBL and the chief of the Credit Information Bureau.
Recently, military authorities had allowed Hamza Shahbaz Sharif, the elder son of the former Punjab Chief Minister Shahbaz Sharif and nephew of Nawaz Sharif, to visit his office under tight security and arrange for repayment of debts of the Sharif family.
India Abroad News Service
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