Is Zardari History?

Remember the FRAUD Nawaz pulled to appear to not be a part of the rotten Raymond Davis affair? See:

• Future News: Nawaz Gets A Heart Transplant

and the followup discussion for all the details. That it was a fraud and that these fools cannot keep the story straight is obvious:

Shahbaz makes up a story…

And Nawaz admits it”s all b.s.:

It now appears their brother Zardari has taken a page from their playbook.

UPDATE: On second thought, I remember Zardari used the ‘bad heart’ excuse many times before to not come back to the country and to get away from his legal troubles:

In June 2005, he suffered a heart attack and was treated in the United Arab Emirates.^[52][53] A PPP spokesman stated he underwent angioplasty in the United States.^[53] In September 2005, he did not show up for a Rawalpindi hearing on corruption charges; the court issued an arrest warrant.^[53] His lawyers stated he could not come because he was recovering from his treatment.^[53] Following a request by the Rawalpindi court, Interpol issued a red notice in January 2006 against the couple which called on member nations to decide on the couple’s extradition.^[54][55]

First it was reported that Zardari had a checkup done at the army hospital and was given an “all clear” certificate. Curious thing was, his spokesperson Farhatullah Babar and his bitch babar Awan strongly denied that any such check-up took place and that “Zardari had been busy in his office all day long.” Now why would you deny such a “good” thing? Probably because showing Zardari in good health goes against the plan.

So it is very interesting that the very next day, the healthy Zardari suddenly leaves for Dubai “for medical checkup”. That this too is a fraud is obvious from all the stories making the rounds. Here is how it is playing out so far:

• Zardari on his way to Dubai for medical check-up (though army doctors said he was fine)
• Zardari sedated, admitted to Dubai hospital says Najam Sethi
• Pakistan President Asif Ali Zardari suffers heart attack, may quit: Report
• President Zardari may resign: Report
• Zardari on way out? ‘Minor heart attack’ indicates he is: Report
• ‘Zardari will not resign’
• Latest: Pakistani President Asif Ali Zardari’s “heart ill” sparks rumors

Interesting, eh?

Another VERY CURIOUS fact is the person accompanying him:

Farahnaz Ispahani, wife of Husain Haqqani, who was a journalist and had worked at the State Department-run Voice of America before joining Pakistan’s murky politics, is said to be accompanying Zardari.

Remember that although no one has picked up on this fact, Haqqani’s wife Farahnaz was as much a party to Memogate as Hussain Haqqani and Zardari (see the transcript of the Mansoor Ijaz’s BBMs). Why would she be picked, of all the people? This to me is confirmation that the guilty ones are being allowed to take the money and run. So once again, all TRAITORS/thieves are allowed to get away with it. And you and I both know Haqqani will be allowed to follow his wife back to U.S. and back to his old job at Boston University to write the book he promised (“HH: You get to write the book on how you changed US-Pak dynamic and won the war in A’tan (w/ some help from a Paki nerd) 😀 …. HH: We’ll make things happen and if we can’t, we’ll write a book about it“).

Isn’t that treason itself at the hands of EVERYONE involved in letting this happen (including Kayani & Co. and Judiciary)?

The Last BBM:

While on the subject, here is a bit that worries me. Read the very last BBM released by Mansoor Ijaz:

MI: It’s interesting (and heartening) to see that many of the proposals made in the memo are now being implemented in the bilateral relationship. Very good. 

Now what do you make of it? Is he right that despite Memogate having been outed (remember this one is from from first week of November after news of Memogate broke), “proposals in the memo” were STILL “being implemented in the bilateral relationship”? Question is who’s implementing them and why no one, not even Kayani stopping them?

Here let me also put on my CT hat and ask was the “non-sensicle” NATO strike really all that non-sensicle? Remember what has been the “reaction” to it? That “all accords with Nato and U.S. will be reviewed“.  So I must ask:

Was the real purpose of the NATO strike to hurry along the implementation of the proposals made in Memogate? Was there a method to this madness???? IS THE REAL TREASON HAPPENING RIGHT NOW????

[BTW: Where is Mansoor ijaz? Could this trip be another of those secret meetings between Ijaz and Zardari to work out a deal between the two, you know, just like NRO between BB and Mush? Let’s see what follows. If Zardari comes back and Mansoor Ijaz throws him a fig leaf in the days to come, you’ll know!  If not then those stories about powers that be having decided to ditch Zardari were true. ;-)]

CONFIRMED: ‘Shamsi is a FARCE’

A little truth confirming what I have been saying is creeping out (but of course not from our military or civilian leadership):

‘Shamsi base is nice, but not crucial for drone attacks’

WASHINGTON: US drone raids targeting militants in Pakistan will not be jeopardized if Islamabad does indeed expel Americans from a key air base, officials and a former intelligence officer said Monday.

Angered over a Nato air attack on Saturday that left 24 Pakistani soldiers dead, Islamabad has shut off supply routes to US-led forces in Afghanistan and ordered Americans out of the Shamsi air base used by the CIA’s fleet of unmanned aircraft.

Even if the Pakistanis make good on their threat over Shamsi, US officials and analysts say the move would be largely symbolic as Washington could fly Predator and Reaper drones out of air fields in neighboring Afghanistan.

[Here is the little lie/spin in this. Having admitted the threat over Shamsi is largely symbolic, they say Washington “COULD” fly drones out of Afghanistan. Remember “COULD” doesn’t mean “WOULD”. Remember, as previously shown, drones already DO NOT fly from Shamsi any more (hence described as ‘symbolic’) but from OTHER AIRBASES/AIRSTRIPS IN PAKISTAN and they “WOULD” CONTINUE as I stated earlier.]

“Shamsi is a nice thing to have, but it’s not critical to drone operations. They can be carried out from bases in Afghanistan,” said Bruce Reidel, a former CIA officer and fellow at the Brookings Institution think tank.

The remote Shamsi air base in the country’s southwest is particularly useful for flights hampered by poor weather conditions, he said.

[Again, read this carefully. Hidden here is the admission that MOSTLY DO NOT FLY FROM SHAMSI! Keep in mind another fact mentioned in my earlier post: Shamsi is over 500 miles away from North/South Waziristan where all of the drone strikes are taking place and to think they are flying all that way from Shamsi is plain ridiculous!]

A senior US official said the facility was not a make-or-break link for the robotic planes that have proved an effective weapon against Al-Qaeda and Taliban extremists.

“The real issue isn’t Shamsi, it’s air space,” the official, who spoke on condition of anonymity, told AFP.

[And NO ONE IS TALKING TAKING AWAY AIRSPACE (or the other real drone bases):]

So far there was no sign that Islamabad would bar the US aircraft from flying over Pakistan, and its announcement on Shamsi appeared designed to placate a domestic audience in Pakistan, officials said.

The Shamsi base reflects the contradictions in the uneasy partnership between the two countries, with Islamabad reluctant to publicly acknowledge its tacit cooperation with US counter-terror efforts, which many Pakistanis see as a violation of their country’s sovereignty.

[ALL Pakistanis (and foreigners) see it as violation of their country’s sovereignty (except our military and civilian leadership; in fact THEY KNOW IT TOO, THAT IS WHY ALL THE LIES!) for IT IS THAT WITHOUT QUESTION]

“You have to have jet fuel delivered to Shamsi,” Reidel said. “The Pakistani public has the impression of a base that operates extraterritorially but in reality it operates because the Pakistani army helps it to operate.”

Shortly after Saturday’s air attack on the border by Nato forces, Pakistan’s cabinet ministers and military chiefs demanded the United States clear out of the Shamsi air field within 15 days.

Pakistan previously called for the Americans to leave the air base in June but later backed off.

Although President Barack Obama’s administration was working on a response to a number of demands from Pakistan, there were no plans to pull back on the drone raids, which intelligence officials have credited with weakening the Al-Qaeda network.

“Pakistan remains a critical counter-terrorism partner, and we do not anticipate significant changes in that relationship,” another US official said.

A more serious problem for the United States and Nato allies is Pakistan’s decision to close its border to convoys ferrying fuel and supplies to coalition troops in landlocked Afghanistan.

[Oh but you can be DAMN SURE that “closure” is ONLY TEMPORARY]

Nearly half of all cargo bound for Nato-led forces runs through Pakistan. Roughly 140,000 foreign troops, including about 97,000 Americans, rely on supplies from outside Afghanistan for the ten-year-old war effort.

Pakistan has shut off the border over previous incidents, partly to allay popular outrage, and US officials said they expected the latest closure would be temporary….

[Ah, so the US  agrees…. ]

Q.E.D.!

RELATED:

• Kiyani’s Endless Lies Continue Following NATO Attack
• Enemy Within: An Open Letter to Roedad Khan
• More NATO Attack Facts…

‘BHAIGHAIRAT/BAYSHARAM FAUJ’ MUST SEE:

• ISPR-wood….Updated

ISPR Spokesperson: "Drones? What Drones? Those Paki officers must have been photoshopped in!"

BUSTED AGAIN!: INCREDIBLE FAKE MASS MEDIA FOOTAGE: BBC Shows “Green Square, Libya” FROM INDIA!

UPDATE: Not that I had any doubts, but this one should remove any doubts for the dense ones (though I am sure it won’t):

NTC Dum Leader Jalil Admits Tripoli Fake Video on TV, NATO Crimes In Libya

[End Update]

BUSTED INDEED!

Look at the faces, the hats, and the clothing! — They’re not even using the right props — Look carefully at the flags— & the picture that is held up by some one in the “Libyan” crowd! What were these Indians, waving Indian flags, really demonstrating about?

For those who don’t know:

Indian flag:

Libyan ‘Rebel’ flag:

Almost similar, eh?? 😛

Of course Fox News can’t be far behind:
Busted! FAKE Fox News Broadcast about Libya!

Foxes Guarding The Henhouse

Two scams exposed by today’s papers:
I.

Govt loses Rs30 billion: Rehman Malik reaps ‘grey’ calls windfall

"Reach out and touch someone!"

ISLAMABAD, June 14: The government is facing an estimated annual revenue loss of over Rs 30 billion on account of ‘grey telephony’ under which international calls are re-routed through local — often illegal — exchanges to avoid local taxes, mainly because of policies designed apparently to favour a sitting powerful minister.
…
One of the leading beneficiaries of the grey traffic is Rodcom Europe, now being renamed as Hollywell Solutions. Rehman Malik, the sitting interior minister, is the chairman of London-based Rodcom Europe — a specialised VOIP (voice-over internet protocol) company established in 2001 “offering a limited number of high quality routes to a limited number of high quality customers”, according to the company website.

It says its early destinations were mainly to Europe and “Pakistan soon joined them when VOIP licences were first issued in 2003”. Rodcom’s activities in Pakistan, the website claimed, “have grown to a level where we are now one of the top five senders of Pakistan calls in Europe
[So RM got this favor from Musharraf]
…
Regardless of whether or not Rodcom is operating legally, Rehman Malik’s ownership of the company raises moral and ethical questions. “That a federal minister who oversees law enforcement agencies which are required to curb such illegal telephone calls, should own a company involved in this business is clearly a conflict of interest,” an observer said.
[Another example of fox guarding the hen house]
…
What makes the conflict of interest issue more serious is the fact that the current government has not made a concerted effort to eliminate the grey traffic; instead circumstantial evidence suggests that official policies have encouraged such activity.
…
HOW GREY TRAFFIC RUNS: Grey traffic is defined as the use of illegal exchanges for making international calls, bypassing the legal routes and exchanges. These illegal exchanges include VOIP (Voice-Over Internet Protocol) that uses a computer; GSM (Global System for Mobile) gateways; WLL (wireless local loop) phones or mobile SIMs. This traffic may then be distributed onwards using WLL and mobile numbers.

II.

Why is PAC chief sitting on NLC scam report?
[Who is he protecting? Is his brother’s name in it? Or other Generals??]
Billions lost in adventure by uniformed men

Now you know WHY he is often caught secretly meeting Generals in the dead of night

ISLAMABAD: The Public Accounts Committee was told on Monday that the office of Chairman PAC Chaudhry Nisar Ali Khan was sitting on the inquiry report into the multibillion rupees scam in the National Logistic Cell (NLC) for the last several months.

The report contains documentary evidence to confirm involvement of four generals of the Pakistan Army in the biggest scam in the history of the NLC. But, in the absence of Chaudhry Nisar Ali Khan from the PAC meeting for a short period of time, some members wondered why only one copy of this explosive report was given to Chaudhry Nisar.

Three Lieutenant Generals and one Major General, who were named in the report, had served at top positions in the NLC in the past and have since retired from service. The inquiry was held to determine the role of these three generals, who despite orders of the then Prime Minister Shaukat Aziz not to put the NLC money into the volatile stock market, invested billions of rupees in the stock exchange and subsequently lost the taxpayers money.

A large number of powerful brokers of Karachi were given huge money from the NLC funds to make investment in the volatile exchange market and subsequently billions were lost. Even these generals had taken a commercial loan to make investment in these stocks.
…
Earlier, during the course of the PAC proceedings it emerged that Secretary Planning Division Ashraf Hayat had deliberately given only one copy of the report to PAC Chairman Chaudhry Nisar Ali Khan for “His Eyes Only”.

Ashraf Hayat, who appeared before the PAC, on Monday was asked why the report was not shared with other PAC members. He said the report had already been sent to the office of PAC Chairman Chaudhry Nisar Ali Khan. But this did not satisfy the members as usually 20 copies of any report are sent to the PAC members. But what surprised them most was that the report was never put on the PAC agenda. The PAC members asked the secretary to dispatch the inquiry report to all of them.
…

Somewhat related: Here s a curious case involving NLC:
Wapda likely to lose Rs 3.2bn to Japanese company

ISLAMABAD: The financially crippled Wapda would soon be poorer by another Rs3.2 billion as it is set to lose a legal battle in the International Court of Justice (ICJ) and would have to pay the amount to the Japan Power Generation Limited (JPGL), the Public Accounts Committee was informed on Monday.

The PAC was further informed that foreign loans worth billions of rupees, including half a billion rupees loan for access to justice, remained unspent thanks to the lethargy of government organisations.

What to talk of others, even Wapda did not use Rs6 billion foreign loan given by a foreign lending agency and the amount was returned to the Economic Affairs Division. Managing Director, National Logistic Cell, Major General Junaid, who appeared before the PAC to defend the report of the Auditor General of Pakistan, spoke of a strong possibility of the Wapda losing its legal battle against the JPGL. He provided these details in a bid to satisfy the PAC members about pending recovery of Rs75 million payable by the same company to the NLC. He said the Japanese company had committed to repay NLC Rs75 million after winning the legal battle, which it is quite confident of winning.

Earlier, the Auditor General of Pakistan told the PAC that NLC had given a loan of Rs75 million to the JPGL. The NLC entered into a loan agreement with the JPGL on July 2, 2007 for the purpose of meeting existing liabilities. The loan was repayable by December 31, 2008 at 14 per cent mark-up rate. The company had already paid Rs13 million as interest to the NLC up to September 2008 in two installments. But, the AGP said, the JPGL had shown a net loss of Rs206 million in its accounts and in view of the poor financial position, the company might not repay the NLC the loan. The loan was sanctioned by former DG NLC, although he did not have any power to give loan to any foreign company. Interestingly, the NLC gave this loan to the Japanese company despite the fact that it itself had to make payment of Rs4.7billion to different banks and financial institutions….
…

NOTES:
1. What is interesting is “Japan Power Generation Limited (JPGL)” is NOT a “Japanese” company but a “Pakistani” one based in Lahore Cantt (HOW COULD RAUF KLASSRA MIS THAT??):

The Company’s activities include owning, operating and maintaining an oil-fired power station with a net contracted capacity of 120.5 megawatts (gross capacity of 135 megawatts). The Company is engaged in generating and supplying electric power to Pakistan Water and Power Development Authority (WAPDA)

WHAT does that mean? It is MOST CERTAINLY another company owned by the guy running the LPG scam and the Rental Power Scam — the one-time Mush crony and today Zardari’s — Iqbal Z. Ahmad

P.S. Iqbal Z. Ahmed and his scams were also the topic of last night’s Islamabad Tonight. Guest was Khawaja Asif

2. Please DO note that the the government’s inability to utilize loans does NOT mean the loans don’t acquire interest. So the money is just sitting there racking up interest which we have to pay back. And if you thought our defense budget was high, consider this: The amount paid in interest payment on these loans is alone 150% of our defense budget!!!

3. So basically what NLC has done is to loan money to JPGL so they can sue WAPDA for billions. Of course WAPDA WILL lose as ICJ is desined that way (as is the WTO that you are so proud to belong to). More on that someday later as it is a HUGE can of worms…But I would like to give you an example of how WTO/ICJ works:

A few years back, an Italian company won a contract from the Government of Pakistan (GoP) for some development contract. They NEVER started work using the excuse that the “security situation in Pakistan was not good, leaving them unable to perform the said works”. AND they headed straight for ICJ suing GoP for the “profits they would have made had they done the work”. Again the argument was “Hey we want to do the work but we can’t but we are entitled to the profits we would have made from the project had we done it. And since it is  GoP that is unable to provide us a safe environment to work in, it is GoP that is liable and must pay us the moneys we could have made.”

Of course the ICJ ruled in favor of the Italians and against the GoP which had to pay up (probably by taking another loan).

In related(?) news:
Power tariff to rise by nine per cent

RELATED:

• Aitzaz: LPG Scam-Runner, Too
• Fishy business and barracudas by Anjum Niaz

Another Mush Bitch Selected By ‘Democracy’

Amazing! The guy who helped rape the country as privatization minister under Musharraf has been selected to be new Finance Advisor (to replace Shaukat Tareen). I am sure IMF/WB are delighted!

Wah Ray Democracy!

But no surprise, really. Remember the four governors of all four provinces are still those installed by Musharraf, the policies being followed are all those of Musharraf, the COAS is the one selected by Musharraf. So who needs Musharraf. It does remind me of the old Eric Margolis article ‘Zardari is the New Musharraf’

UPDATE:

Just financial wizardry that we will see in the days to come can well be gauged by today’s article by Mohammad Malick.

A Quickie: KESC Update

I had written a detailed report on KESC titled “KESC Swindles: Past, Present, and Future”. Of course nothing has changed and things are going ‘according to plan’. Just a quick update on some of the latest news:
1. PSO has cut KESC’s fuel supplies because KESC has not being paying PSOs bill. Remember KESC was already getting supplies at a MAJOR discount on Zardari’s orders (How big a discount? How about 100,000 tons of furnace oil at the price of Rs13,000 only!). But even getting the oil at next to nothing, KESC was still not paying for it and still claims to be running at a bigger loss than last year. It also continues to run it’s plants way below capacity because it makes more money by doing so — it has secured deals kind of like the Rental Power Plants (RPP).

2. The transfer of ownership to Zardari continues with issuance of another Rs.6.3 Billion in ‘right shares’ in mid-Feb and another Rs.3.6 Billion in ‘right shares’ this month.

UPDATE: March 17, 2010
As expected, KESC ONCE AGAIN gets away with not paying it’s bills:
Govt intervenes to ensure KESC gets furnace oil

UPDATE: March 19, 2010

Just got “official” confirmation from former MD KESC (watch today’s — March 19th — 11th Hour on ARY) that KESC was sold to present owners for…………….

$1!!!

[Of course this too is NOT all the truth. In fact they were paid billions to “buy” KESC (and more and more payments are ongoing as I mentioned in my first report)].

From One Pocket To Another: BoP Scam’s Disappearing Billions

Yesterday’s headlines screamed the Chief justice Iftikhar Muhammed Chaudhry celebrating the “recovery” of monies scammed from bank of Punjab by Haris Steel Mill owners, declaring BoP case a precedent for loan recovery. That he would declare this in response to NAB stating that of the Rs. 13 Billion scam, only Rs. 5.6 Billion have been recovered is further proof that the fix was on Have the courts become part and party to the looting? (The only other possibility is that the justices are too dumb)

Why do I say this? I say this because what started out as a Rs. 13 Billion scam was quietly reduced to a Rs 9 Billion scam (and now to Rs. 8.4 Billion) and what started out as Rs 7.5 Billion recovered months ago (from the HSI owner, Sheikh Afzal alone — their are at least 17 co-accused) is now reduced to only  Rs 5.6 Billion, right in front of the eyes of these courts and the judges are pretending not to have noticed. (For a complete background, see my previous posts —  links at the bottom).

Nawaz Helps Biggest Threat to Democracy – UPDATED

Two curious news items brought ‘NA-123: Nawaz Continues To Lie‘ back to mind:

1. SC remands NA-123 polls case to LHC
2. Nawaz withdraws nomination papers for NA-123

Now Who Would Have Thought: Balochistan Safer Than Punjab

If this does not expose the duplicity of the Sharif Brothers, nothing does. It appears the so-called province under fire — Balochistan — is a much safer place than the Punjab of Sharifs as Balochistan was able to hold by-elections today.

UPDATE: Oh, I should have added N.W.F.P. to the title too, as it too will be  able to hold by-polls before Punjab…

LHC

Sharifs, of course, have used the pathetic excuse of “security situation” to block the polls in the province. Of course the ‘official’ line of PML-N was the blatant lie: “We, the PML-N are all in favor of the by-election. It is the Punjab government that is against it!”

And in a shameful collaboration, the Lahore High Court broke the constitution and delayed polls indefinitely. It must be noted that the attorney for PML-N — oh, sorry — the Punjab government was the son of Justice Khalil Ramday. Now how many think he ‘won’ because he had the stronger argument?

The real reason for the forced delay is of course the ‘secret’ deal with the Saudis which bars Nawaz from running in the elections till end of next year — yes, yes — the same supposedly non-existent 10 year deal he signed with Mush. That clause of the deal is the reason why PML-N has been in no hurry to do away with the 17th amendment.

Now that SC has taken notice, let’s hope they rule in favor of Sheikh Rashid’s petition and force the Election Commission to hold by-elections in Punjab — and SOON!

P.S. I think the Sharif’s are sensing the way SC is headed on this and was the reason why Shahbaz rushed to the lap of Gilani and offered full support to crook Zardari.

KESC Swindles: Past, Present, and Future

The Ugliest Logo On Earth

Putting aside the Rental Power Plant scam that is being exposed these days, I want to go back to the KESC scam as it is ongoing and the worst of it is yet to come and it is being called “de-privatisation”.

This is how I see it and see if you agree:

.

SCAMS OF THE PAST:
It is decided to privatize KESC and instead of trying to pump up the stocks, the exact opposite is done and the stocks are manipulated downwards. Even then they manage to get it down only between Rs 7-8 per share (Remember it hovered around Rs 15 when it was first decided to privatize it). Despite the fact that the stock price in the market is between Rs 7 and 8, the company is sold at Rs 1.65 per share, a “discount” of 75-80% and that too after government takes over Rs 90 billion of KESCs debt to a shadow group marketed as “Middle East consortium” which it is not. (Of course I contend that even that Rs. 15.85 billion was never paid) (Note: ADB is part of this consortium and an equal partner in this crime)

This company of course does not invest a dime in KESC. Not only that, it also never pays it’s bills. Instead it just collects the money that people pay as their electricity bills and syphons it out of the country. Of course sometimes when the companies providing it electricity (PEPCO, other IPPs) demand their bills be cleared, either the government comes to its rescue and pays KESCs bills OR KESC mortgages some of it’s assets with the banks or simply takes loans from the banks with the Government of Pakistan (GoP) as the guarantor. Please also remember that not only do they mortgage their physical assets but they even mortgage their future revenue stream i.e. the bills of their big industrial clients. They continue like this until ALL their assets are mortgaged with the banks and when nothing is left, and against the original deal, they “sell” their stake before the three years have passed.

Pull Out My @ss — US Occupation of Iraq Continues Unabated

“Political language is designed to make lies sound truthful and murder respectable, and to give an appearance of solidity to pure wind.” –– George Orwell

…We have passed the June 30 deadline that, according to a Status of Forces Agreement (SOFA) signed between US Ambassador Ryan Crocker and Iraqi Foreign Minister Hoshyar Zebari on November 17, 2008, was the date all US forces were to have been withdrawn from all of Iraq’s cities. Today, however, there are at least 134,000 US soldiers in Iraq – a number barely lower than the number that were there in 2003. In addition, US Secretary of Defense Robert Gates testified on June 9 that the United States would maintain an average of at least 100,000 troops in Iraq through fiscal year 2010….(link)

Aitzaz Exposed – Part II

Let me start by giving you some background of the Aitzaz’s latest client: Bank of Punjab/Haris Steel:

BACKGROUND

The scandal broke around April/May 2008 when NAB arrested ex-BoP president, five GMs. 

LAHORE: The National Accountability Bureau (NAB) has arrested Hamesh Khan, the sacked chairman of the Bank of Punjab (BoP), and five former general managers of the bank on massive fraud charges, sources in the bureau told Daily Times on Sunday.

Haroon Aziz, Khalid Qayyum, Amir Mumtaz, Muhammad Hussain and Amir Ifitkhar have been named as the five arrested former BoP general managers, the sources said.

According to Geo TV, an internal audit of the BoP disclosed a fraud worth Rs 13 billion during the previous government’s tenure. It said the case was referred to the State Bank of Pakistan, which sent it to NAB for further investigations. 

The channel added that NAB sources had confirmed the fraud, saying that the BoP administration had issued heavy loans against ordinary property.

It has been learnt that Hamesh’s arrest came after Sharjeel Masood, a senior BoP officer and right hand man of Hamesh, informed authorities of the latter’s activities. The sources said the officials had been under NAB detention since Thursday. They added that former Punjab Secretary Salman Siddique and the former Finance secretary would also be investigated in the case.

At this time we did not know who the beneficiaries were and Haris Steel was presented just as “a middle east company”:

Aitzaz Exposed – Part I

I have always maintained that while Zardari was the ‘Snake‘, Aitzaz was ‘Aasteen ka Saanp’ and not to be trusted. Of course I have been proven right over and over again. The first proof for me was his calling off the first Long March unilaterally. Of course some lawyers understood they had been had and demanded he pick a side: Zardari or the Lawyers Movement and when Aitzaz picked Zardari, that should have removed any doubts about his double dealing. But alas! The lawyers continued to be played like a fiddle and were foolish enough to involve him in the second UNSUCCESSFUL (Do we have Nov 2 judiciary? Hell NO!) Long March. See how he slyly managed to get Kurd stuck in middle of no where on the Sindh=Baluchistan border, Munir Malik stuck in Karachi, Justice Tariq stuck in Lahore and Imran Khan blundering by reaching Islamabad — a place both Aitzaz and Sharif brothers knew the march would never reach (Remember, days earlier Nawaz had already announced the justices would be restored before they reached Gujaranwala — the fix was in).

So Much for Foreign Investment: KESC “sold” to Zardari Kin

Abraaj goes public with some of its juicy secrets

By Shaheen Sehbai

KARACHI: The mystery surrounding the new owners of KESC, Karachi’s beleaguered power supply utility, has finally been unraveled. In a rare show of plain speaking, the top boss of Abraaj Capital with his 40 expensive executives, has made startling written confessions which may stun the nation.