Around the same time, Abraaj was looking to sell its stake in K-Electric Ltd., the electricity provider to Karachi. Mr. Naqvi tried to secure the cooperation of Pakistan’s then-prime minister, Nawaz Sharif, and his brother Shehbaz, offering a $20 million payment to businessman Navaid Malik for his help in getting it, according to company emails and people familiar with the situation. The government owns a stake in K-Electric and its approval would be required for the sale to go through.
Shehbaz was “willing to give a strong endorsement” of the deal to Chinese bidders, Mr. Malik said, according to an October 2015 email to Mr. Naqvi from Abraaj partner Omar Lodhi. Mr. Malik said it was “important for him to share every detail with the brothers and get their blessings as well as their instructions as to how this money should be distributed,” such as “a portion to charity” or “a portion to the election fund kitty,” Mr. Lodhi wrote in the email.
When Mr. Naqvi emailed Mr. Lodhi about the $20 million contract for Mr. Malik in June 2016, he wrote, “This document is explosive in the wrong hands.” Abraaj and K-Electric shouldn’t be named in the document, he wrote: “Keep it generic.”
“Noted,” Mr. Lodhi responded. Mr. Malik didn’t respond to requests for comment.
In his statement, Mr. Naqvi said that he denies being part of any conversation that involved a payment to anyone in political office to facilitate the sale of K-Electric. He said Mr. Malik was an Abraaj adviser on a variety of activities and that the contract was part of a lengthy discussion about the terms of that role. He said the final agreement “ensured that no conflict of interest would occur.” He said he called it “explosive” due to a reference to the potential sale of K-Electric, which was confidential at the time.
In October 2016, Abraaj announced the sale of the majority stake it controls in K-Electric to China’s state-controlled Shanghai Electric Power Co. for $1.77 billion. However, completion of the sale was delayed by regulatory hurdles.
In July 2017, Pakistan’s Supreme Court removed Prime Minister Sharif from office, and he was convicted of corruption this summer in a case centering on the ownership of London apartments his family used. He is appealing.
K-Electric still hasn’t been sold. A lawyer for the Sharif family said the brothers deny any discussions took place with Mr. Malik as described in the emails.
https://www.wsj.com/articles/privat...dging-to-do-goodthen-it-fell-apart-1539706575
Now what it has to do with Kashmir?
Kashmir is a separate issue that has never prevented big companies to come to Pakistan. It has always been corrupt politician.
Last 10 years, Army has made an effort to stay out of government run issues, the only thing they have done is systematically sidelined corrupt politicians, the likes of Zardari, NS and Altaf Hussian because the Army understand that current economy situation is the biggest threat to Pakistan than any other threat.
[MENTION=142162]Napa[/MENTION],
LOL
