Mehrangate

Add links
Source: Wikipedia, the free encyclopedia.
This article is part of
a series about
Benazir Bhutto
  • Political views

Elections

Prime Minister of Pakistan

  • Assassination

Benazir Bhutto's signature

Gallery: Picture, Sound, Video

The Mehrangate, also known as the Mehran bank scandal, was a major

Second administration of Prime Minister Benazir Bhutto in 1990.[1]

The active-duty

Pakistan Peoples Party, which was much organized at that time.[4]

The nature of the

Pakistan Peoples Party in 1994. The case hearings and investigations went on for several years until 2012 when the Supreme Court of Pakistan eventually found Nawaz Sharif, Aslam Beg, Asad Durrani, bankers, and other conservative politicians from the PML(N) responsible and guilty of their acts.[4]

Background

After the exposure of the

first administration of Prime Minister Benazir Bhutto, charging the Benazir's administration of nepotism, political corruption, poor economic growth, law and order, and foreign affairs, in 1990.: 441 [5]

After the

US$ 39 million was later additionally deposited in the intelligence funds.: contents [6]

Initiated by

General Mirza Aslam Beg with the alleged support of President Ghulam Ishaq Khan, payments of up to PKR 140 million were made by the Inter-Services Intelligence (ISI) Director-General Lieutenant-General Asad Durrani via the owner of Mehran Bank, Yunus Habib. Intelligence funds were deposited in Mehran bank in 1992 propping up what was an insolvent bank as a favor to its owner's for help in loaning money to the Inter-Services Intelligence in 1990 that was used in the creation of the right wing alliance Islami Jamhoori Ittehad (IJI) and bankrolling the campaigns of many opponents of the PPP.[citation needed
]

The scandal subsequently broke after the new ISI Director-General Lieutenant-General Javed Ashraf Qazi decided to transfer the intelligence fund back to state owned banks as per official rules. Mehran Bank was unable to return the money due to its poor financial state and collapsed. It was later discovered that large sums had been siphoned off to 39 fictitious parties.[citation needed]

In 1995, Mehran Bank was amalgamated with the National Bank and in 1996 the NBP had to make full provision for Mehran's liabilities which resulted in a net loss that year to the bank of Rs 1.260 billion.[7]

Yunus Habib was arrested on 7 April 1994 for misappropriation in the sale proceeds of the Dollar Bearer Certificates. On Dec 14, 1995, Younus Habib was convicted of fraud and embezzlement and given a sentence of 10 years rigorous imprisonment by the Special Court for Offences in Banks in Sindh. On April 20, 1994, giving details about the payments made by Habib to generals, politicians and political parties, the then Interior Minister, Naseerullah Babar, told the National Assembly that the main beneficiary of his largess was former army chief General Mirza Aslam Beg who received Rs140 million.[8]

Convictions

In March 2012,

Pakistan's Supreme Court summoned Younis Habib, (Mirza Aslam Beg), and Asad Durrani to testify in response to a lawsuit filed by Air Marshall Asghar Khan in 1996.[9] On 19 October 2012, the Supreme Court tribunal found Beg and Durrani guilty of violating the Constitution for their roles in the bribery. Beg has evaded testifying before the court, arguing his constitutional rights were violated by the court's finding before he could testify.[10]

See also

References

  1. ^ Nizami, Arif (9 March 2012). "From Memogate to Mehrangate". www.pakistantoday.com.pk. Islamabad: Pakistan Today. Pakistan Today. Retrieved 12 August 2018.
  2. ^
    ISBN 9781849048637
    . Retrieved 12 August 2018.
  3. ^ Our Correspondents, staff writers (8 March 2012). "1990 elections scandal: Habib says then army chief used him | The Express Tribune". The Express Tribune. Islamabad: The Express Tribune. The Express Tribune. Retrieved 12 August 2018.
  4. ^ a b Report, Dawn (8 March 2012). "Former bank chief claims being forced in Mehrangate". DAWN.COM. Dawn Newspaper. Dawn Newspaper. Retrieved 12 August 2018.
  5. ISBN 9780932088819
    . Retrieved 14 August 2018.
  6. ISBN 9781849048637
    . Retrieved 14 August 2018.
  7. ^ Ghazali, Abdus Sattar. "ISLAMIC PAKISTAN: ILLUSIONS & REALITY".
  8. ^ Sabir Shah (16 October 2015). "Many characters of Asghar Khan case already dead". The News.
  9. ^ "Central character of Mehran Bank scandal resurfaces". Dawn. 7 March 2012.
  10. ^ "Gen Beg keeps defying apex court orders". The News. 17 October 2015.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Mehrangate&oldid=1151545705"