Pak PM Sharif, brother acquitted in Ittefaq Foundries case

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A Rawalpindi court has reportedly acquitted Pakistani Prime Minister Nawaz Sharif, Punjab Chief Minister Shahbaz Sharif and the Sharif family in the Ittefaq Foundries case.

The accountability court judge Sohail Nasir rejected the National Accountability Bureau's (NAB) request to reopen probe into the case and cleared all members of the Sharif family, reported The Express Tribune.

The court noted in its ruling that the case was based on political revenge and that there was no dispute between the Sharif family and the National Bank.

The NAB had claimed that Zonal Chief and Manager of National Bank Wapda House Lahore had addressed a complaint to the chairman against Sharif family on December 10, 1999. He had also said that the company was in default to the NBP to the tune of 1.06 billion rupees since 1994.

The complaint added that on June 11, 1998, Sharif had announced to hand over his assets to the creditor banks to realise the loans of Sharif family by selling them.