General Musharaf. Suggested Reading: Two Hundred Verses about Compassionate Living in the Quran
Editor’s note: The Muslim Times is a news aggregation blog and collects from numerous sources. We suggest that the readers should independently confirm accuracy and truth of any posts.
Source: In Depth Pakistan
ISLAMABAD : Ex Army Chief and former President of Pakistan General Pervaiz Musharraf Owns offshore accounts value having more than 2 Billion, besides having foreign bank accounts, Musharraf has also made huge saving investments abroad specially in Dubai.
In wake of the Panama Papers leak, the politicians are being grilled for owning offshore companies but no one asks the ex-dictator Pervez Musharraf from where he got billions of rupees which are kept in his offshore accounts. Musharraf, who retired as army chief, till recently was in possession of around Rs 2156 million net cash in his offshore bank accounts besides other movable and immovable property.
The politicians are considered children of lesser god when it comes to criticism on any account whereas no one dares to say a single word against the holy cows.
Gen. Musharraf accumulated billions in offshore accounts besides the property that he has already purchased in foreign lands or inside Pakistan but he never mentioned these assets and accounts even at the time of assets declaration while submitting his nomination papers during general elections 2013.
According to the source, besides having foreign bank accounts, Musharraf has also made huge saving investments abroad to earn large profits. The source said that in just one Dubai-based online trading service — MMA — Musharraf had US$ 1,600,000 (Rs 145 million) last year. Musharraf’s account number, according to the source in this company, is AV77777.
In the Union National Bank, which is an investment bank in Abu Dhabi, Musharraf and his spouse Sehba Musharraf, have a joint account No 4002000304, in which the amount mid last year was UAE Dirhams 17,000,000 ( Rs 391 million).
In the same bank — the Union National Bank — they have another joint account No 400200315, which is a dollar account. This particular account last year contained US$ 535,325 (Rs 48 million).
In yet another UAE Dirham account in the same financial institution — the Union National Bank — Sehba and Musharraf had almost UAE Dirhams 7,600,000 (Rs 174 million) last year. The account No is 4003006700. In the fourth account, No 4003006711, in the Union National Bank, the duo had UAE Dirhams 8,000,000 (Rs 184 million). In the fifth account, No 4003006722 in the same bank — the Union National Bank — Musharraf and his wife had US$ 8,000,000 (Rs 728 million). In the sixth account, No 4003006733, Mrs Sehba Musharraf and Mr Pervez Musharraf had UAE Dirhams 8,000,000 (Rs 184 million) last year. In the seventh account, No 4003006744, in the same Union National Bank, the duo holds UAE Dirhams 8,000,000 (Rs 184 million). In their eighth account in the same bank — the Union National Bank Abu Dhabi — the duo had US$1,300,000 (Rs 118 million).
During the initial few months of his taking over as a military dictator following his coup against the Nawaz Sharif government, General Musharraf made his wealth public, which hardly contained any cash but only some plots in different parts of the country. Musharraf claimed to be the Mr Clean of Pakistan. How did he become a billionaire is a million dollar question.
Categories: Pakistan, The Muslim Times
Its all the payments for the children he sent to Afghanistan to blow themselves up.
Most probably; money advanced to him is from US for having his such prolonged friendship in the US war against Terror and then for staging an election in 2007-8 to hand over the rein to another puppet Benazir Bhutto.
He knows best but I think; it’s not advisable to have his most of the money in one bank Union National Bank, that is keeping all the eggs in one basket.
2 billion what ? PKR, right ? That’s 20 million dollars. The General, as a highly paid keynote speaker, got $150,000 to $2000,000 per speech in the West. He also made millions of dollars for his book, “In the Line of Fire.” Like all Armed Forces officers he also got plots of lands after his retirement. Which I am sure he sold at a big profit. I am not, nor have I ever been a fan of dictators or generals, but let’s stick with the facts before we throw someone under the bus. Fact checking has never been a Pakistani strong point.
@frogcurry read again! Thanks 2 billion dollars
@frogcurry read again! thats 2 billion dollars
had it been dollars….musharaf would have become 2nd or 3rd richest person of pak…. and such a attribute would have been mentioned in the article…. these tainted journals and papers
Did he declare the income and did he pay Tax on the income?
Well said. No sources are quoted in this article and the publishing website has given a clear disclaimer right at the top regarding authenticity of the news. It’s hardly a serious journalistic report.
He is the most honest politician in Pakistan and his services as former COAS are admired even by his worst enemies. The economic Achievements during his regime are exemplary. Relating his assets with #PanaPapers is very illogical as MNS and AAZ along with their cronies have almost ruined Pakistan. HinT: in first 60 years the Debt was 5 trillion and in just last 8 years both took another 16 trillion totalling to 21 trillion making every Pakistani to have a debt of 100,000.- PKR.
He has no Offshore company, whatsoever. Similar story referring to his different accounts was covered by “The News”. I never expected such a misleading write from Z Virk sahib. A comprehensive reply was there on social Media. Here it is pasted for ready reference.
“Did Musharraf Engage in Financial Corruption?
By Riaz Haq
A story alleging corruption by former President Pervez Musharraf has appeared recently in Pakistan’s Jang Media Group publications in the aftermath of the Panama Leaks that revealed the names of 220 rich and powerful Pakistanis owning offshore accounts.
The Panama Papers show that Mir Shakeel ur Rehman, the owner of Jang Media Group, owns offshore accounts, as do the family of the current Prime Minister Mr. Nawaz Sharif and former Pakistani Prime Minister Benazir Bhutto who was assassinated in 2007. Other Pakistanis named in the Panama Papers include prominent businessmen, politicians, judges, bureaucrats, etc. allegedly involved in corruption. The names of former President Pervez Musharraf or his family members are not among the 220 names from Pakistan.
The Jang Media Group story titled “How Mr clean Musharraf became a billionaire” lists accounts held by Mr. Musharraf in Dubai and London with balances adding up to millions of US dollars. Farrukh Durrani, the story writer, demands that the commission of inquiry looking into Panama Papers also investigate the sources of Mr. Musharraf’s wealth. Here’s an excerpt of the story:
“Despite having such huge chunk of amount in his offshore accounts, neither did any investigative agency nor did the accountability bureau question him how he got billions of rupees in his foreign accounts. However the commission of inquiry appointed by prime minister in the wake of Panama Leaks has a broader scope and powers which can question ex-dictator Pervez Musharraf from where he got billions of rupees which are kept in his offshore accounts.”
Knowing what I know about how western leaders like former US President Clinton and his wife Hillary became wealthy after leaving office, let me suggest to Mr. Durrani to do his homework as follows:
1. Learn about the lucrative speaker series business which brings hundreds of thousands of dollars per speech to celebrity speakers in the West, particularly the United States. This is a well-established, well-organized business that promotes lecture series featuring prominent speakers where attendees pay hundreds of dollars per person to attend in large numbers.
2. Do research into how many such lectures President Musharraf delivered after retiring from presidency in 2008? How much did he get paid for each? What does it all add up to? Does it add up to more than the reported account balances in Dubai and London?
Let me give a few pointers to Mr. Durrani if he’s honestly trying to understand the sources of Mr. Musharraf’s wealth:
1. A Newsweek story quoted David Wheeler, the President Embark LLC, just one of the international public-relations firms trying to land Musharraf as a highly paid keynote speaker, as saying, “The [speaking] fee for Musharraf would be in the $150,000-200,000 range for a day.”
2. The Newsweek story further added that “Public-relations executives say the articulate and brash 44-year army veteran’s earning power could approach that of former U.S. President Bill Clinton”.
3. Here’s how an Oregon newspaper “The Oregonian” reported about Musharraf’s planned appearance in Portland in 2010: “The folks who attract big international names to Portland each year have done it again, landing Pervez #Musharraf, Pakistan’s former president, to speak here in March. The World Affairs Council of Oregon’s 2010 speaker series will also feature Nobel Prize-winning economist Joseph Stiglitz; Jane Lubchenco, National Oceanographic and Atmospheric Administration chief administrator; and — in a face-off –Howard Dean, former chairman of the Democratic National Committee, and Karl Rove, strategist for President George W. Bush.”
4. A brochure announcing the Peninsula Speaker Series in the San Francisco Bay Area that included Musharraf as a featured speaker, along with Condeleeza Rice, Laura Tyson and Paul Krugman, showed the ticket prices ranging from $294 to $403 per person.
After Mr. Durrani has had a chance to do his homework, I believe he will realize, if he’s honest, that he is being used by his employer to deflect attention of the world and of any investigative commission members from the sins of Mir Shakeel ur Rahman and his rich and powerful friends in high places, including Prime Minister Nawaz Sharif and his family, who have either stolen Pakistan peoples’ money and/or cheated on taxes they owe to the Pakistani treasury. Any investigative commission must not allow itself to be used to pursue vendettas to obscure the truth.”
Mister what so ever you say. Musharraf legacy was the bloodiest in the history of Pakistan. He made what Pakistan is today. He killed innocent people, was a.dictator, came to power through illegal way. He even did not spared his own colleagues like General jamshed gulzar, General mehmood. People in army used to call him CNN as he was such a compulsive liar. He made offshore accounts but nobody can dare question him. The reason is because he was the head of the most powerful institution in Pakistan. People blame him in the murder of Benazir, bugti and Lal Masjid massacre. Drone attacks started in his tenure. During his tenure Pakistan was on the verge of disintegration.
Note: Debt can increase in PKRs even if there is no additional borrowing due to decreasing value of PKRs against dollar.
i really liked ur detailed reply and the way of slapping back. i am a lover of general pervez musharraf and always stand for him in my friends, because all of my friends dont support him.
Musharaff is the beneficiary of offshore Companies??? ……….So what’s the name of these offshore companies.
ALL I see is in the article by Virk is a deflection for a besieged and beleaguered Nawaz Sharif whose pointing figures at everybody. He looks worried and weak and all attempts by accusatory articles just conform the dark clouds that loom over Nawaz Sharif and his corrupt family. Shame on you Zakaria Virk.
We are an aggregate site, quoting articles from other sites. This article is just food for thought and a cause for discussion.
We hope to see evidence for an against the claims made in this post and request the readers to make their own best judgment.
Let the basic fact on board” Does He have that much money or No ?”
If he would have corrupt money , mr N S had not tried him as dictator , traiter as this was hard sell to military , there was no evidence of ill gotton money , this is enough and let us not run after military , all pakistan a enemies work hard to routine Psk army that is only obstruction in their evil designs , all politicians , five provincial , Azad Kashmir National Assembly , senate and civil services compared to army generals , it is impossible to find , amount of money trail
This post is a reproduction from In Depth Pakistan and here is the information from their About Us page:
Indepth Pakistan is News Publishing Website, one of fastest growing online Media of Pakistan providing the world, latest news from all over the Pakistan and around the globe as well.
Besides, We have a section of Pakistan Guide to promote the real image of Pakistan by publishing Hidden Beauty of Pakistan.
If you have any queries, feel free to contact us.
Joint CEOs :
Usman Farooq (usman@indepthpakistan.com)
Salman Awan (salman@indepthpakistan.com)
General Manager :
Abdul Samad Khan
Manager Advertisement :
Saira Khan
Public Relation Officer :
Saad Mughal (indepthpakistan@gmail.com)
Social Media Head :
Muhammad Ali (indepthpakistan@gmail.com)
Special correspondents :
Bushra Wahid
Nabeel
Maryam Ishfaaq
Zain Anwar
Shahzaib Shah
Malik Zohaib Nazir
Obaid Ullah Mashwani
Mukaram Khan
http://indepthpakistan.com/about-us/
https://youtu.be/LftYzWXr624
The article is a pack of lies.Not even the worst enemies of PM would accuse him of any financial wrongdoing. Trash it.
What rubbish. Publishing an article like his without any authentic sources is just another piece of propaganda journalism we have become so good at.
Bharway sahafi ka yehi kam hota hay baghair kisi saboot aur reference k propaganda kartay hain.
Better to delete the whole thread.
This good site is not for such things.
Ok, question is why Saudi King gifted billions in US $ to Musharraf he stated himself to a Pakistani media channel. Understood against some service not known, there is no free lunch in today’s world. why is not named this money as corruption?