Asad Umar says NAB ought to provoke probe as WSJ story claims Sharif brothers supplied $20 million as kickback in Ok-Electrical deal


ISLAMABAD: Finance Minister Asad Umar on Wednesday stated that Nationwide Accountability Bureau (NAB) ought to launch an inquiry after a US newspaper’s story alleged that Abraaj co-founder supplied $20million to safe Sharif brothers’ cooperation within the sale of agency’s stake in Ok-Electrical.

Talking completely to ARY Information, the finance minister stated that NAB ought to examine the matter and convey culprits to e-book.

“Usually NAB investigates such issues and in present circumstances, if we (the federal government) begin investigating it by means of FIA, they (the Sharif brothers) may name it (the inquiry) a political witch-hunt,” stated Umar.

“If you happen to ask me, I’ll urge PM Imran Khan to request NAB to provoke an inquiry on this matter,” he added.

Abraaj co-founder offered $20million to secure Nawaz’s cooperation in selling K-Electric stake: WSJ

The WSJ report

It’s pertinent to notice right here that US based mostly newspaper Wall Road Journal reported that Abraaj’s co-founder supplied to pay $20million to a Pakistani businessman within the yr 2016 to to safe cooperation of then Prime Minister Nawaz Sharif within the sale of agency’s stake in Ok-Electrical.

In a report documenting Abraaj’s fall, the newspaper reported earlier this week that within the yr 2016,  Abraaj was seeking to promote its stake in Ok-Electrical, the electrical energy supplier to Karachi so the agency’s co-founder Arif Naqvi tried to safe the cooperation of then-prime minister, Nawaz Sharif, and his brother Shehbaz, providing a $20 million fee to businessman Navaid Malik for his assist.

The report cites an October 2015 e mail to Abraaj co-founder Arif Naqvi from companion Omar Lodhi wherein Navaid Malik stated that Shehbaz was “keen to offer a powerful endorsement” of the deal to Chinese language bidders.

“Mr. Malik stated it was “essential for him to share each element with the brothers and get their blessings in addition to their directions as to how this cash needs to be distributed,” reminiscent of “a portion to charity” or “a portion to the election fund kitty,” Mr. Lodhi wrote within the e mail.

The report claims that when Naqvi emailed Lodhi concerning the $20 million contract for Navaid Malik in June 2016, he wrote, “This doc is explosive within the unsuitable arms.” Abraaj and Ok-Electrical shouldn’t be named within the doc, he wrote: “Preserve it generic.”

Shehbaz Sharif, Nawaz Sharif and Abraaj co-founder Arif Naqvi have denied that they have been  concerned in corruption.



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