The Sharif family has clarified that companies facing bankruptcy are exempt from paying taxes, a stance that was recently endorsed by a British court in relation to Hasan Nawaz’s case.
The statement came in response to a recent ruling from the UK court, which declared Hasan Nawaz’s company bankrupt. Hasan, the son of former Prime Minister Nawaz Sharif, faced the bankruptcy order in a case involving tax and liabilities, as per the court documents.
Under UK law, a bankruptcy order is part of the personal insolvency process, issued by the court to declare an individual bankrupt. These orders are only published in the London Gazette upon receipt from The Insolvency Service. A bankrupt individual cannot act as a director or manage a company unless granted permission by the court to continue in that role, yet Hasan Nawaz still holds directorial positions in several UK companies.
In defending the family’s financial history, a spokesperson outlined the financial challenges faced by the Sharif family, dating back to 1972, when industrial nationalisation under Prime Minister Zulfikar Ali Bhutto impacted their businesses. The spokesperson also recounted how the family suffered financial setbacks during General Pervez Musharraf’s regime, which saw their homes confiscated and factories sealed.
The spokesperson further accused former Chief Justice Saqib Nisar of targeting and destroying the family’s industries. The statement suggested that the Sharif family has been unfairly pushed into financial crises multiple times as part of a deliberate effort to penalise them.
The Sharif family also reiterated their commitment to the country, stating that they have prioritized the nation’s welfare, enduring personal financial losses for the greater good.
In response, PPP leader Nadeem Afzal Chan criticised the Sharif family for invoking the Bhutto era in their response to Hasan Nawaz’s bankruptcy. Chan questioned the relevance of historical events to the present situation and accused the Sharif family of declaring bankruptcy in the UK to avoid paying taxes.
Chan further challenged the Sharif family to be honest with the public, suggesting that their actions in the UK mirror those in Pakistan. He also hinted at revealing further details about the issue, had the PPP leadership not restrained him.
