Sharif family claims it has paid mark-up

Published November 8, 2014
- Photo courtesy: LHC official website
- Photo courtesy: LHC official website

LAHORE: A spokesman for the Sharif family claimed on Friday that the Ittefaq Group had paid the mark-up on a loan it had obtained from a consortium of banks.

The Lahore High Court had directed on Thursday the Ittefaq Group to pay mark-up of Rs3.5 billion on a petition filed by a lawyer of the consortium comprising National Bank of Pakistan and other financial institutions.

The spokesman said the factual position was that all banks had been repaid hundred percent of the loan’s required amount, and, in fact, these industrial units had themselves approached the court to ensure entire loan payment to all banks.

He said it was for the first time in the history of Pakistan that any family or industrial unit had returned its complete loan, along with its markup, without getting it waived at all.

Published in Dawn, November 8th , 2014

Opinion

Editorial

Military option
Updated 21 Nov, 2024

Military option

While restoring peace is essential, addressing Balochistan’s socioeconomic deprivation is equally important.
HIV/AIDS disaster
21 Nov, 2024

HIV/AIDS disaster

A TORTUROUS sense of déjà vu is attached to the latest health fiasco at Multan’s Nishtar Hospital. The largest...
Dubious pardon
21 Nov, 2024

Dubious pardon

IT is disturbing how a crime as grave as custodial death has culminated in an out-of-court ‘settlement’. The...
Islamabad protest
Updated 20 Nov, 2024

Islamabad protest

As Nov 24 draws nearer, both the PTI and the Islamabad administration must remain wary and keep within the limits of reason and the law.
PIA uncertainty
20 Nov, 2024

PIA uncertainty

THE failed attempt to privatise the national flag carrier late last month has led to a fierce debate around the...
T20 disappointment
20 Nov, 2024

T20 disappointment

AFTER experiencing the historic high of the One-day International series triumph against Australia, Pakistan came...