fbpx

New NBP chief rewarded for sanctioning Rs500m to the Sharifs’ sugar mill in 1990s

By Sarmad Ali

Islamabad, Jan 28 (Pak Destiny) The Nawaz Sharif government has rewarded Syed Ahmad Iqbal Ashraf by appointing him president of National Bank of Pakistan (NBP) for his services – sanctioning Rs500 million loan to the Ramzan Sugar Mill of the Sharifs in 1990s.
“Ahsraf has also been given a task to settle down Rs3billion loan of Itifaq Foundry which it had taken from the NBP in the 1990s,” the sources said.
The sources said Ashraf was the regional director of NBP when he had sanctioned Rs500 million to the Sharif’s Ramzan Sugar Mill when they needed money. Salman Shahbaz had asked his uncle to appoint Ashraf.
A chartered accountant by profession, Ahmad Iqbal is a brother of Dr Nasim Ashraf, the former minister for National Commission for Human Development (NCHD) and president of Pakistan Cricket Board in General Musharraf’s government.
He replaced Dr Asif Brohi who had three years to reach the retirement age.
A total of 51 candidates had applied for the post. The selection was originally to be made by a high-powered commission comprising Federal Tax Ombudsman and two academicians from Agha Khan University and Lahore University of Management Sciences. – Pak Destiny

2 Opinions given on this story

Your Opinion is Valuable

2 Opinions

  1. Rana M. Afzal Khan Reply
  2. Faizi Reply

Popular Posts