A story published in the Wall Street Journal earlier this week reported that Abraaj founder Arif Naqvi offered a $20 million payment to a Pakistani businessman to secure the cooperation of then Prime Minister Nawaz Sharif in the sale of Abraaj’s sale of its stake in K-Electric, which supplies electricity to Karachi and is also partly owned by the Pakistani government.
Naqvi has denied media reports that he was involved in corruption surrounding the sale of the embattled private equity fund’s stake in Pakistan’s K-Electric and again denied any misuse or appropriation of Abraaj funds.
PTI’s leader Farrukh Habib said, “Any agreement with Abraaj capital to sell shares of K-Electric will be made public and parliament will be taken into confidence about it.”
Senior Politician Akbar S. Baber said, “Foreign Funding to political parties is a very sensitive issue because it is linked with National Security and political parties are hijacked through such funding.”
Former DG NAB Shahzad Bhatti said, “According to article 9 (1)A of NAB ordinance, merely an attempt to get unauthorized favor will lie in the category of crime.”