Pakistan

Sharif family ‘transferred funds’ from Multan Metro bus project to China

ISLAMABAD: The Sharif family has allegedly transferred funds received as kickbacks in the construction of Multan Metro Bus project, ARY News reported on Tuesday.

The funds worth $10.75 million were transferred to China.

Former Prime Minister Nawaz Sharif had inaugurated the Multan Metro Bus project in January at the cost of over Rs28 billion. It includes 21 bus stations spread over an 18.5km route, which facilitate around 97,000 commuters daily.

However, the Chinese Securities and Regulatory Authority (CSRA) launched an investigation into the funds transferred by the Chinese firm working on the project which showed them as profits gained from the project.

According to CSRA, the firm YaBait transferred $10.75 million to China, and has sought details from the Securities and Exchange Commission of Pakistan.

However, former-SECP chief Zafar Hijazi and advisors Muzaffar Mirza and Khalida Habib reportedly refused to share any information with the CSRA and eventually suppressed the matter.

The Chinese firm was allotted the contract to construct the Multan Bus Rapid Transit (BRT) by the Capital Engineering and Construction Ltd, which is not even registered with the SECP and the address provided does not even exist.

The funds were transferred from Dubai, Mauritius and other locations. The contractors for the project have refused to have collaborated with any company. Punjab Chief Minister Shahbaz Sharif and PML-N Leader Mushahidullah provided documents to the Chinese firm.

 

READ MORE : KP govt to set up Chinese language centres in province

 

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