Dubai Courts have no record of Gulf Steel Mills sale: UAE's ministry of justice

ISLAMABAD: The United Arab Emirates government had replied to the Joint Investigation Team (JIT) that the Dubai Courts did not have the record of transaction worth AED 12 million.

The transaction refers to the sale proceeds of 25 per cent shares of Ahli Steel Mills (formerly Gulf Steel Mills) in the name of Tariq Shafi, the prime minister's cousin.

As per Volume-III of the report, the UAE’s ministry of justice replied to JIT that the share sale of 25% agreement of 1980 of Ahli Steel Mills dated 14/4/1980 according to you request does not exist.

"That no transaction worth AED 12,000,000 (twelve million Dirhams) as sale proceeds of 25% shares of Ahli Steel Mills (erstwhile Gulf Steel Mills) ever took place in name of Mr. Muhammad Tariq Shafi," the ministry added.

Another question asked by the JIT referred to the transport of scrap machinery from Ahli Steel Mills to Al Azizia Steel Mills, the UAE’s ministry of justice replied that no scrap machinery was transported from Dubai to Jeddah during 2001 – 2002.