Top Loan Defaulters List: PML(N) Tops All Lists.


Politcal Worker (100+ posts)
ISLAMABAD: Supreme Court Wednesday made public report evolved by a 3-member judicial commission led by Justice Syed Jamshed Ali in respect of the persons who have got waived their loans since 1972.

A 3-judge bench led by Chief Justice Iftikhar Muhammad Chaudhry took up the case for hearing Wednesday.
With the opening of this report several names of important figures will stand exposed and sword of disqualification is likely to hang over the heads of several politicians.

Major defaulters among the politicians were Chaudhries of Gujrat who defaulted 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.

The State Bank had issued a total of 33 circulars since 1972 to 2007 in that respect. According to Section 25 of the Banking Ordinance, a loan write off case should be sent to the Parliament but this section had continuously been ignored.

The total amount waived off as loans from 1972 to 1996 is over Rs. 200 billion. Three lists of bad loans have been published since 1993, the first by caretaker PM Moeen Qureshi, followed by two lists by Benazir Bhutto and caretaker government of Meraj Khalid in October 1996 and January 1997respectively. The bad loans which were Rs 1,340 million when Z A Bhutto was removed swelled to Rs 80 billion in August 1993, Rs 126 billion inNovember 1996 and Rs 130 billion in January 1997.

According to details, 244 loans were written-off amounting to Rs 4,724 million between March 1985 and August 1993 but the number of written-off loans increased 942 in November 1996 valued at Rs 8,247 million. Thus during her second term, Benazir government wrote-off 698 loans worth Rs 3,550m.

Some notable beneficiaries of loans written-off before August 1993 included New Era Textile (Rs 136.7m), Hashwani Hotels (Rs120 m), Fancy (Rs 64.89m), Colony (Rs51.4 m), Saifullahs (Rs 39.21m), Hyesons (Rs 35.7m), Habib group against RKD Sugar (17.m), Saigol against Omaryar Limited and Kohinoor Textile Mills (17.1m), Mian Mansha (Rs 7.5m), Bibojee (Rs 4.2m), Packages (Rs4.2m) and Bawany (Rs 2m).

The 698 beneficiaries of written-off loans under Benazir included Farooq A. Sheikh, whose five loans worth Rs 500 million in Adamjee Industries, Dost Mohammad Textile Mills, United Exports and United Group of Industries were written-off. Six loans worth Rs 131m of Jan Mohammad, a member of theNational Group owning the Muslim Commercial Bank, relating to Charsada Sugar Mills were written-off. A few other beneficiaries were: Saifullahs, Hashwani, House of Habib, B.D Avari, Taufiq Sayed Saigol, MNA Shahid Nazir and former NA Speaker Gohar Ayub.

Link of Article: …

List of Top Loan Defaulters till 1996

Amount Borrowed (in millions) = Blue
Amount Default (in millions) = Red

Name Amount borrowed, default (Rs in millions)

1 Ittefaq 3,675 2,891
2 Fazalsons
3,475 3,475
3 Tawakkal
4 Bela Chemicals
5 Abdul Shakoor Kalodia
1,215 1,215
6 Naqvi
1,213 1,060
7 Zahur
8 Ghani
1,023 985
9 Arabian Sea Enterprise
950 913
10 Hyesons
750 725
11 Chaudri Cables
12 Farooq A Sheikh
632 632
13 Habib
615 615
14 Bawany-Alnoor
601 485
15 Chaudry Shujaat
544 381
16 Dawood
540 325
17 Adamjee
Total 20,537

Top Defaulters in January 1997

Name Amount in Default (Rs. in Million)

Ittefaq 3,013
2 Tawakkal
3 Fazalsons
4 Bela Chemicals
5 Chaudri Shujaat
6 Abdul Shakoor Koladia
7 Fauzi Ali Kazim
8 Saigol
9 Naqvi
10 Zahur
11 Abdullah Al-Rajaih
12 Ghani
13 Habib
14 Adamjee
15 Hashwani
16 Arabian Sea Enterprise
17 Sargodha
18 United
19 Chakwal
20 Dawood
21 Bawany-Alnoor
22 Fateh
23 Packages
24 Colony
Total 25,389

Sab k Sab Chor Salay: And You can clearly see PMLN tops both lists.

Vote for Change........Vote for PTI.........Vote for Pakistan
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Senator (1k+ posts)
Re: PMLN Tops Again......Congrats

SC took this case now to give Shareefs green chit before election.


Senator (1k+ posts)
Re: PMLN Tops Again......Congrats

Do u've any account detail of N.S bros' we should help poor people... :biggthumpup:


President (40k+ posts)
Re: PMLN Tops Again......Congrats

شریف برادران ایسے کیسز اور رپورٹس کے منظر عام پر آنے کے بعد اب پچھتا رھے ھونگے کہ کیوں عام عوام پر اتنا پیسہ سسی روٹی، پیلی ٹیکسیوں، لیپ ٹاپ، آشیانہ سکیم، دانش سکولز, میٹرو بس وغیرہ جیسے منصوبوں کی مد میں ضائع کیا۔ ان پیسوں سے سے تو بیرون ملک کافی ملیں لگ سکتی تھی۔
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Senator (1k+ posts)
Re: PMLN Tops Again......Congrats



Chief Minister (5k+ posts)
Re: PMLN Tops Again......Congrats

At least after witnessing the performance of last 5 years of SC, I am more than 100 % sure that SC will not take any step against Shareef family.

This is really disappointing that justice is only for selected sections (which is reasonable) but ignoring one section completely is doubtful


Senator (1k+ posts)
I can't really believe if some 'STUPID PEOPLE' still pin their HOPES with PML-N and others of this category:angry_smile::angry_smile::angry_smile:


Senator (1k+ posts)
I remember audit of UBL when top defaulter was nawaz shareef and then comes shebaz shareef...

But dont you think that the above list is of 1997... after that bigger crococdiles have been came into the picture and they have looted even much more than nawaz and shehbaz.....

The list is very old.. please update


Politcal Worker (100+ posts)
Re: PMLN Tops Again......Congrats

PTI = Party of Top Idiots

Lagi Gaye Top Defaulter Leader Kay Top Loser Supporter. Tumharay Leader Nay Phir Tumhay Z A L I L Kerwadiya.[hilar][hilar][hilar]


PTI = Party of Topless Idiots

: For PMLN Supporter

Originally Posted by [/SIZE
sigma;1329062] Abugee ki chuttii......

لو جی اب تو اپ لوگوں کو کسی مزید ثبوت کی کھبی ضرورت نہیں پڑے گی

He has admitted willfully "Abugee","meri eyes taras gaye thi iss sentence ko parhaney k liay", I love you beta.

No offence: Sigma the other day i wanted to ask you about this post? Is he your real father on this forum or step father or just a bad guy? I copy/paste it from other thread.
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MPA (400+ posts)
Is case ka bi Mehran Bank Scandal jesa Natija na nikle jaha Hakumat kahe ke Hum NS ko FIA ke zariye Ghasitna nahi chahte...(omg)