Skeptic786
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- Sep 21, 2006
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having heard an in depth debate on the steel mill issue involving awais leghari, hamid nasir on the one side.......Khawaha saad rafiq and aitzaz ahsan on the other............i can say this Steel mill privatization should not be described as a scandal. This is an insult to the intelligence of all that are aware of what was attempted.
The proper discription for it is.....Pakistan's history's biggest and most daring robbery attempted.
here are the facts.......a crook was first allowed to make money from the stock market at the expense of small and other innocent investors. This crook would use the money to join a consortium who was buying steal mills.
Then tender was put out....selling the steel mill around rupees 25 billion ( which is the same amount of money it took to set it up by the russian back 1960s ).
in defiance of express prohibition of the crook from engaging in bidding for the steal mills his tender bid was accepted as winning bid. All other tenders were basically told to get lost.
Once fixing the paper work and contract for the sale......land worth 40-60 billion rupees was simply added to the sale ( under the table style ) for same price of 25 billion bid. Now all the losing tenderers never had this opportunity to know that land ( 400 acres of prime karachi real estate ) was going to be given to the winner....had they known they would have bid far more......but this was the robbery that was being perpuated on the people of pakistan. You see no prohibition or condition was attached to the sale contract which would have kept the land in the use of the steal mills in the future. This is very important since the crook's main line of business is construction. In other words the crook was being handed land worth 1 billion dollars ( 40-60 billion rupees ) completely free of charge ! to develop his real estate and construction business.....and as an aside business he also owns steal mills. who declared this blatant act of fraud and robbery on the people of Pakistan as transparent and above board???? Shuakat Aziz's City Bank.
Once the matter was brought to the attention of Supreme court......government set about defending the sale using the leading lawyers costing the tax payer millions of rupess......after hearing the arguments of the government lawyers for two weeks........Supreme court slapped them in the face and annulled the sale for these main reasons:
the crook should have been disqualified from the outset, he cannot enter a tender let alone emerge as winner.
the giving of free land worth a billion dollars after the tendering process and to which other tenderers were not aware of when submitting their bids. crooks 25 billion rupees bid didnot have a penny for the land.
And to top it all
the bid of 25 billion rupees comes with the following;
9 billion rupees cash in the bank account of steal mills
government having paid 7 billion loans of steal mills.
so all in all what was net money being recieved for steal mills? 9 billion ruppees only???
but then again for paying 9 billion rupees one is also getting land worth 40-60 billion rupees.
what a sweet deal indeed but for the supreme court of pakistan.
The proper discription for it is.....Pakistan's history's biggest and most daring robbery attempted.
here are the facts.......a crook was first allowed to make money from the stock market at the expense of small and other innocent investors. This crook would use the money to join a consortium who was buying steal mills.
Then tender was put out....selling the steel mill around rupees 25 billion ( which is the same amount of money it took to set it up by the russian back 1960s ).
in defiance of express prohibition of the crook from engaging in bidding for the steal mills his tender bid was accepted as winning bid. All other tenders were basically told to get lost.
Once fixing the paper work and contract for the sale......land worth 40-60 billion rupees was simply added to the sale ( under the table style ) for same price of 25 billion bid. Now all the losing tenderers never had this opportunity to know that land ( 400 acres of prime karachi real estate ) was going to be given to the winner....had they known they would have bid far more......but this was the robbery that was being perpuated on the people of pakistan. You see no prohibition or condition was attached to the sale contract which would have kept the land in the use of the steal mills in the future. This is very important since the crook's main line of business is construction. In other words the crook was being handed land worth 1 billion dollars ( 40-60 billion rupees ) completely free of charge ! to develop his real estate and construction business.....and as an aside business he also owns steal mills. who declared this blatant act of fraud and robbery on the people of Pakistan as transparent and above board???? Shuakat Aziz's City Bank.
Once the matter was brought to the attention of Supreme court......government set about defending the sale using the leading lawyers costing the tax payer millions of rupess......after hearing the arguments of the government lawyers for two weeks........Supreme court slapped them in the face and annulled the sale for these main reasons:
the crook should have been disqualified from the outset, he cannot enter a tender let alone emerge as winner.
the giving of free land worth a billion dollars after the tendering process and to which other tenderers were not aware of when submitting their bids. crooks 25 billion rupees bid didnot have a penny for the land.
And to top it all
the bid of 25 billion rupees comes with the following;
9 billion rupees cash in the bank account of steal mills
government having paid 7 billion loans of steal mills.
so all in all what was net money being recieved for steal mills? 9 billion ruppees only???
but then again for paying 9 billion rupees one is also getting land worth 40-60 billion rupees.
what a sweet deal indeed but for the supreme court of pakistan.
.but unfortunatly this happens in pakistan every day.:wall:
