No dues against Ittefaq Foundries: NBP

NBP in its letter further stated that all petitioner banks have received full and entire amount of their claims

ISLAMABAD: The National Bank of Pakistan (NBP) said that Ittefaq Foundries has paid back all their pending bank loans, including that of the NBP, and there was nothing outstanding against them.

“Our books show no outstanding dues against the said group, companies and guarantors, and the reference may kindly be withdrawn,” said the executive vice president of the bank in a letter addressed to the National Accountability Bureau (NAB).

The NBP in its letter further stated that all petitioner banks, including the NBP, have received full and entire amount of their claims, and that there is nothing outstanding against Ittefaq Foundries.

The subject matter of Reference No 11 of 2001 pending in the NAB Rawalpindi, was filed on the premise of default, the letter mentioned.

NAB had filed a reference against owners of Ittefaq foundries Mian Sharif, incumbent Prime Minister Nawaz Sharif, incumbent Chief Minister Punjab Shahbaz Sharif and other family members for allegedly not paying back Rs1.06 billion loan to the National Bank.

Published in The Express Tribune, November 27^th, 2014.