Nawaz okayed Mehran Bank, got Rs 200m: report

According to a report compiled by Federal Investigation Agency (FIA) in 1994, Nawaz Sharif the then premier approved establishment of Mehran Bank with allocated sum of Rs 600 million.The report revealed that on Nawaz Sharif’s request loans worth Rs 200 million were deposited in the accounts of Sharif family.According to the report, Chaudhry Sugar Mills was issued loan of about Rs 50 million without any guarantee.Chaudhry Sugar Mills directors included Shahbaz Sharif, Husain Nawaz, Hamza Shahbaz and some women. For this purpose, an account was opened in Mehran Bank Lahore branch on April 4, 1993 and on the same day, parties applied for loan.Younis Habib gave Rs28.5 million to the Pak Punjab Carpets of Talha Zubair, the incharge of Nawaz Sharif’s election campaign. Yousin Habib had received direction from Prime Minister House over a phone call.The FIA report also revealed that the income Nawaz Sharif showed within 50 years was Rs 7.8 million on which about Rs 2 million were paid as tax. It was also revealed that Nawaz Sharif showed his income worth Rs 3.8 million from 1971 to 1994 and paid one million rupees tax.Shahbaz Sharif showed his income worth Rs 3.6 million and paid more than half a million rupees during this time.It was also revealed that Sharif family is in habit of showing assets less than actual amount.