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Financial Terrorists ‘Seths’ a Bigger Threat to Pakistan – Who is dealing with it?

By Dr Shahid Qureshi: –

The so called ‘Seths’ of Karachi, Memons, Mufthas, Wadas, Sheikhs, Ddidy’s, Sharifs, Zardaris, and Dar have put Pakistan and its economy in the ICU (Intensive Care Unit) and no body could do anything about it. Why? These are the real gangsters in Pakistan who got over 30,000 thousand people killed only in Karachi and billions of dollars losses to the economy and infrastructure. They are the people who destroyed the police of Karachi and still working on the model to bring in the ‘army’ on the streets to start a civil war on Indian narrative ‘Keep Karachi Bleeding’. That was the reason NATO containers were bringing in vehicles used in the urban warfare as well as MQM-A lead (Babur Ghauri) Minister of ports and shipping got over 22000 NATO containers lost between Karachi port and Afghan border. Ishaq Dar was main informant of the MQM-A and damaging the ‘Karachi operation’ one must ask him why he tipped of Babar Ghauri to run as he is a main suspect in disappearing of 22000 NATO containers.

A treacherous mafia, who is and have been selling the country for a small price, ignoring the sacrifices of the armed forces and security services, is running Pakistan. A leading politician explained to me about the ‘strategy’ of so called business community in Karachi. Security forces have recovered over Rs. 2 billion cash from one member of that community and minister in the Sindh Government. These people are in the root of all financial scandals from Mehran Bank – Asghar Khan case to money laundering and gold smuggling. These ‘Seths’ are the real terrorists hiding behind charity, media and piety. These shrewd people will hire a ‘retired army officer’ as their Manager Human Resources on high pay and he will serve as security man as well as get them to all his juniors and seniors in armed forces and soon they will be offering presents to high ups in the armed forces. Now they changed the strategy as they will make father or brother of serving army officer as business partner.

The other strategy, which I observed, is ‘Queen Bee’ model of corruption. In this model these people will launch one member apparently with high religious values to show off and all the corruption money is given to him for investment and rest will enjoy the profits. If you check all the gambling bookies, money laundering syndicates and prostitution rings you will find them on top. For them Saint and Satan can be manipulated with wine, dine and woman. They are the most dangerous security challenge to the current leaders in Karachi.

These Seths in Karachi are behind funding of all the political as well as money laundering for them. The dollars from Pakistan did not walk on foot or flew themselves. Some one took them out of the country with the full support of the state apparatus of Customs, FIA and FBR (Federal Board of Revenue). There was one brave customs Inspector who dared to stop this and arrested Dollar Smuggler ‘Ayan Ali’ was killed at his residence by the powerful mafia. But Pakistani media elements who can sleep with Washington and Tehran at the same time and corrupt civil servants are more worried about what Maddraas are doing, what is Hafiz Saeed doing, Molve Ludhanvee doing? Which politician is meeting them, so they can demonise them? Pakistani authorities should take serious action against these elements hiding in the cover of media. There is no such holy cows in media.

They have successfully created this ‘smoke screen’ of threat from ‘Madrassas and Taliban’. It even forced former Army Chief General Aslam Beg to say that: ‘if real Taliban come to Karachi MQM will disappear’. It was proven to be true that it was actually MQM mostly doing all the terrorism in the guise of Taliban.

According to Government of Pakistan report Rs. 1 Trillion was spent on development in Sind province which is run by Zardari mafia since 2008. Most of this development fund is stolen and hidden as well as smuggled abroad. Ishaq Dar has given amnesty to this loot. Instead of putting them in jail he has given them a way out to these white-collar criminals. Someone said: “if we disband police 50% crimes will disappear and if we jail corrupt politicians 100% crimes will end”.

What these economic terrorists ‘Seths’ have done to Pakistan: (1) drained the US$ dollars from the economy of Pakistan by not bringing back the revenue of sold items and products abroad. (2) They enjoyed the subsidies in the gas and electric as well as refunds in tax but did not pay back the country and kept the profits in foreign banks or invested in real estates aboard. (3) they kept the military leadership and security establishment engaged in ‘various operations’ since 9/11. They say, ‘let the khakis have tea and Smosas’. Pakistan Army is duped and stretched by the crook politicians into useless tasks like ‘counting the people’ census when they are already stretched at Afghan Border and Indian Border as well as LOC. In past, few years they are giving this new lollypop aka ‘sucker’ to every army chief to play with starting from Gen Kiayni, Gen. Raheel Sharif and now to Gen. Bajawa i.e. operation Rah e Najat, Zarb e azb, and now Rade-ul-fasad. (4) By giving tax amnesty to the ‘Seths’ criminals and terrorist financiers Ishaq Dar and Nawaz Sharif further destroyed the ailing economy of Pakistan. (5) they sabotaged the return of US$ 200 billion from Swiss Banks with the help of corrupt elements in bureaucracy, FBR and State Bank. Even the Swiss Banks are willing to return the money back to Pakistan.

In response to my question ‘Will UK help Pakistan get its money back from Swiss Bank’ at (RUSI) British military think tank? Rehman Chisti British MP and a lawyer said: “All it needed is a letter from the Pakistani Government to Swiss Attorney General”, So I wrote a mock but appropriate letter for Ishaq Dar, then Finance Minister of Pakistan.

In the first instance Government of Pakistan must inform the World Bank body ‘The Stolen Asset Recovery Initiative (StAR)’ to assist Pakistan in this process –
The Stolen Asset Recovery Initiative (StAR)
The StAR Secretariat
1818 H street NW
Washington DC 20433 USA
Web: http://star.worldbank.org/star/

I wrote a draft letter on behalf of the Government of Pakistan to the Swiss Attorney General based on the information provided to the senate by the Finance minister Ishaq Dar that over $200 billion of Pakistanis are hidden in Swiss Banks.

Draft letter

Minister Finance 
Government of Pakistan 
Apartment No.18, Minister’s Enclave, Islamabad 
Permanent Address: 7-H, Gulberg-III, Lahore
Home Number: 042-35881594
Mobile Number: 0321-8478603
Fax Number: 042-35881521

Attorney General 
Office of the Attorney General
Government of Switzerland 
Taubenstrasse 16
CH-3003 Berne
Tel: +41 58 462 45 79, Fax: +41 58 462 45 07

Dear Sir/Madam

Re: Recovery of Pakistan’s $200 billion in Swiss banks

  1. I am writing to you as per advice by a prominent British lawyer who is also member of British Parliament Rt. Hon: Rehman Chisti. While speaking at Pakistan Conference held at RUSI (Royal United Services Institute) on October 1st October 2015 Rt. Hon Rehman Chisti said: a letter from government of Pakistan (Attorney General) must be sent to the Swiss Government seeking release of information as well as return of the corruption money deposited of Pakistanis in Swiss Banks. He was responding to a question of senior British Journalist Dr Shahid Qureshi editor of The London Post.
  2. I would like to inform you that I have submitted in writing in the Parliament of Pakistan (National Assembly) that: “government is seriously considering steps to bring back illegal assets from Swiss banks.
  3. I told the National Assembly in writing that the government is seriously mulling to exchange information regarding the illegal money deposited in the Swiss banks under new laws. The new Act of 2010 allows the Swiss government to exchange the confidential information regarding the illegal amount deposited in the Swiss banking industry.
  4. I also said that the Pakistan-Switzerland tax agreement is unsatisfactory, and amendments are required in order to gain access to Pakistani capital.
  5. I have said that the Federal cabinet has approved the summary to review the agreement with the Swiss government.
  6. My Parliamentary Secretary for Finance Rana Afzal is of the view that the names and accounts of those Pakistanis could be accessed who have deposited unauthorized money in the Swiss banks if the amendments are approved in the Pakistan-Switzerland agreement.
  7. I told the parliament that a delegation will visit Switzerland from August 26 to 28, 2014 to bring back the illegal money from the Swiss banks. It may be mentioned here that Pakistanis have deposited almost $200 billion illegally in the Swiss bank accounts while the total sum of the cash deposited illegally is 7000 billion dollars.
  8. In a detailed response to a question raised by Dr Arif Alvi (MNA), the minister quoted statements by a Swiss banker and a former Swiss government minister: “One of the directors of Credit Suisse AG stated on the record that $97 billion worth of Pakistani capital was deposited only in his bank. Similarly, Micheline Calmy-Rey, a former Swiss foreign minister, is reported to have put the amount of Pakistani money hidden in Switzerland at $200 billion — a statement that was never contradicted,” he revealed.
  9. Saying that he believed the figures were correct, Mr Dar said the situation called for immediate corrective action. To put the enormity of this find into perspective, Pakistan’s total external debt stands at $150 billion and its gross domestic product is said to be around $300 billion. The country can, theoretically, pay off all its debt with the money in Swiss banks and still have nearly a quarter of it left over”.
  10. I told the parliament that the government of Pakistan was working under the ambit of a new Swiss law, known as ‘The Restitution of Illicit Assets Act, 2010’ (RIAA), which allows the Swiss government to exchange information — which was considered confidential up to now — regarding money that may have been obtained illegally and deposited in Swiss banks. He also briefed the house on the steps the government was taking to get the money back.
  11. I must inform you that: “Pakistan’s federal cabinet in a meeting on Sept 20, 2013 had already approved renegotiation of the current Pak-Swiss tax treaty and Federal Board of Revenue officials and the Swiss authorities concerned had agreed to meet in August this year to upgrade the existing agreement”.
  12. I must inform you that I will be informing the World Bank body to assist Pakistan in this process:
    The Stolen Asset Recovery Initiative (StAR)
    The StAR Secretariat
    1818 H street NW
    Washington DC 20433 USA
    Web: http://star.worldbank.org/star/

In view of the above I would request you to kindly issue a disclosure with the names and amount of money, assets and wealth deposited of all Pakistanis in Swiss Banks, so we could start process of the return of the assets stolen from Pakistan by individuals and companies.

I Thank you in advance for your assistance. I look forward to hearing from you soon.

Yours sincerely

Minister Finance 
Government of Pakistan

Disclaimer: This is draft letter, but Government of Pakistan is welcome to use it by paying postage stamps before sending to Swiss Government. 

Here is a list of Pakistanis who have been named in the Panama papers.

Prime Minister Nawaz Sharif’s family (9 companies)
Hassan Nawaz
Hussain Nawaz
Maryam Nawaz
Punjab Chief Minister Shahbaz Sharif’s relatives (7 companies)
Samina Durrani
Ilyas Mehraj
Former PM Benazir Bhutto (1 company)
Nephew Hassan Ali Jaffery
Javed Pasha, Close friend of Asif Ali Zardari (4 companies)
PPP Senator Rehman Malik (1 company)
PPP Senator Osman Saifullah’s family (34 companies)
Anwar Saifullah
Salim Saifullah
Humayun Saifullah
Iqbal Saifullah
Javed Saifullah
Jehangir Saifullah
Relatives of Chaudharys of Gujrat
Waseem Gulzar
Zain Sukhera (co-accused with former Prime Minister Yusuf Raza Gilani’s son in the Hajj scandal)

Real Estate Czar Malik Riaz Hussain’s son (Bahria Town)
Ahmad Ali Riaz (1 company)
Chairman ABM Group of Companies Azam Sultan (5 companies)
Pizza Hut owner Aqeel Hussain and family (1 company)
Brother Tanwir Hassan
Chairman Soorty Enterprise Abdul Rashid Soorty and family
Sultan Ali Allana, Chairman of Habib Bank Limited (1 company)
Khawaja Iqbal Hassan, former NIB bank President (1 company)
Bashir Ahmed and Javed Shakoor of Buxly Paints (1 company)
Mehmood Ahmed of Berger Paints (1 company)
Hotel tycoon Sadruddin Hashwani and family (3 companies)
Murtaza Haswani
Owner of Hilton Pharma, Shehbaz Yasin Malik and family (1 company)
Hussain Dawood family (2 companies)
Shahzada Dawood
Abdul Samad Dawood
Partner Saad Raja
Abdullah family of Sapphire Textiles (5 companies)
Yousuf Abdullah and his wife
Muhammad Abdullah and his wife
Shahid Abdullah and his family
Nadeem Abdullah and family
Amer Abdullah and family
Gul Muhammad Tabba of Lucky Textiles
Shahid Nazir, CEO of Masood Textile Mills (1 company)
Partner Naziya Nazir
Zulfiqar Ali Lakhani, from Lakson Group and owner of Colgate-Palmolive, Tetley Clover and Clover Pakistan (1 company)
Zulfiqar Paracha and family of Universal Corporation (1 company)

Serving Lahore High Court Judge Justice Farrukh Irfan
Retired Judge Malik Qayyum

Mir Shakil-ur-Rehman of GEO and Jang Group (1 company)


(Dr Shahid Qureshi is senior analyst with BBC and chief editor of The London Post. He writes on security, terrorism and foreign policy. He also appears as analyst on Al-Jazeera, Press TV, MBC, Kazak TV (Kazakhstan), LBC Radio London. He was also international election observer for Azerbaijan April 2018, Kazakhstan 2015 and 2016 and Pakistan 2002. He has written a famous book “War on Terror and Siege of Pakistan” published in 2009. At Government College Lahore he wrote his MA thesis on ‘Political Thought of Imam Khomeini’ and visited Tehran University. He is PhD in ‘Political Psychology’ and studied Law at a British University. He also speaks at Cambridge University. He is a visiting Professor at Hebe University in China.)

Disclaimer – Views expressed are not of The London Post

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