Federal Minister for Information and Broadcasting Fawad Chaudhry on Sunday said that mysterious financial transactions have been found in 1990. 

Addressing a news conference along with Minister of State for Revenue Hammad Azhar and Special Assistant to Prime Minister on Accountability Shahzad Akbar in Islamabad on Sunday, he said that it was found that former prime minister and Pakistan Muslim League-Nawaz (PML-N) supremo Nawaz Sharif was owner of Hudabiya Paper Mill.

The minister said that Sharif family introduced Economic Reform Act in 1992 to keep the source of capital hidden, adding that it was found out that in late 1990s the Hudaibiya Paper Mills was involved in large suspicious transactions.

Fawad Ch went on to say that former finance minister Ishaq Dar introduced money laundering in the country, and he himself confessed his role in these transactions.

He expressed hope that looted money of corrupt politicians will be brought back from abroad. “The corruption has led to inflation, falling exchange rate of Pakistan rupee, and all sorts of issues faced by Pakistanis abroad,” Chaudhry said and added a very small capital of the laundered money has been brought to Pakistan by the Sharif family and the rest is still abroad.

The minister further said: “Former president and Pakistan Peoples’ Party (PPP) co-chairman Asif Ali Zardari set up a network of fake accounts in Sindh, adding that the fake accounts had been opened in the names of gardeners, drivers and guards.”

“Federal Investigation Authority (FIA) has unearthed 5000 fake accounts through investigations and 32 accounts had been opened to run these accounts,” he added.

Speaking on the occasion, Special Assistant to Prime Minister on Accountability Shahzad Akbar said fake companies were set up in Dubai to launder money.

He said members of the Sharif family were unable to reply to the queries of the National Accountability Bureau (NAB) regarding the corruption. He said nation wanted that accountability process reaches to its logical conclusion and the government was committed to bring back the looted money.

Shahzad Akbar expressed surprise over some suspects’ getting pre-arrest bail despite plethora of evidence. He was the NAB needed to improve its prosecution.

Minister of State for Revenue Hammad Azhar said former Finance Minister Ishaq Dar is giving his opinion on current economic situation based on assumptions. No independent economist has endorsed the policies of Ishaq Dar.

To a query, Chaudhry Fawad Hussain said Prime Minister Imran Khan was committed to rid the country of the menace of corruption and he was supported by the whole nation in this task. “It is difficult in any country to bring influential personalities to book,” he said.