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April 26, 2016

SBP record shows Tareen got over Rs99.6m loans written off

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April 26, 2016

ISLAMABAD: While some opposition parties are making hue and cry to get the ToRs of the proposed Panama Commission changed, especially those related to the loans write-off, the State Bank of Pakistan (SBP) documents available on the Election Commission of Pakistan (ECP) official website show that the PTI’s top leader Jahangir Khan Tareen had got Rs99.638 million loans written off.

Most of the loans taken in the name of Tareen and his son were written off when he was the federal minister for industries and production during the tenure of General Pervaiz Musharraf.

Jahangir Tareen, CNIC# 35202-2698829-5, got Rs38.468million loan written off from the United Bank Limited.The loan was acquired by him and his son Ali Khan Tareen (CNIC# 35202-5803969-1) in the name of company Faruki Pulp Mills Ltd.

Tareen and his son also got a loan amounting to Rs18.03 million written off by the MCB.The loan was taken in the name of Faruki Pulp Mills Ltd. They both also got yet another loan of Rs43.14 million written off from the Royal Bank of Scotland. This loan was also taken in the name of Faruki Pulp Mills Ltd.