ITS A TRAGEDY THAT MUSHARRAF LOOTED BILLIONS FROM PAKISTAN AND NOW A MAN CALLED LIEUTENANT GENERAL IFTIKHAR HUSSAIN SHAH MANAGES HIS BLACK MONEY IN TURKEY AND OTHER PLACES

IFTIKHAR HUSSAIN SHAH HAD A MAJOR ROLE IN GENOCIDE OF PASHTUNS IN NWFP AS HE WAS A HINDO SPEAKING MAN WHO HATED PASHTUNS.

I REMEMBER HIS ENGAGING A PASHTO TEACHER AFTER HE BECAME GOVERNOR OF NWFP.

A PATRIOTIC ISI OFFICER

Pakistani Intelligence Officer on General Musharraf ,HUBCO SCAM and Corruption

by a Patriotic Pakistani Intelligence Officer who wishes to remain anonymous

Thank you for sharing these thoughts; it shows that the world will remain engulfed in struggles for a long time to come; one form of Neo Colonialism is being replaced by another; perhaps this is how it has always been.

The Chinese have made clear to Pakistan that their investments to the country are conditional on bye passing the procurement laws that the national assembly had passed to prevent corruption.

Many years ago a patriotic Pakistani civil service officer was stuck with the cosiness of the international financial banks (including the WB and the IMF) with the corporate buccaneers ,while investigating corporate corruption of the foreign power companies in Pakistan

For instance the Hubco Project in Karachi worth $ 476 million dollars was approved on the basis of an agreement that allowed a pay-back period of 20 years with an indexed 12% of profit annually over the licensing period. This was constructed on a financial model formulated over a period of 4 years.

However, during investigations a patriotic Pakistani civil service officer found that the model was tampered with in a period of 24 hrs when one government was replaced by another; $ 25 million short term borrowing was done by the project when the money was not needed by it - courtesy Morgan & Grenfell.

The most devastating finding of a Pakistani bureaucrats inquiry was that that a project that was constructed to amortize over a period of 20 years did so in 14 months after its operation.

These investments are the new East India Companies and they are now all over the world; we even have the spectre of food being grown for other nations in Africa and even in Pakistan by expelling the local peasantry.

The Pakistani civil servants inquiry amongst other things led to a lowering of the Pakistani power tariff in 1998 by Rs 18 billion a year (at that time the $ value was $ 1 = Rs 25). When the Nawaz Sharif government was replaced by Gen Musharaff in Oct 1999, he and the Chairman of Pakistan's power utility, WAPDA Gen Zulfikar visited Zurich in Dec 1999, where in the home of one of the prime investor from Saudi Arabia they settled for private gains, withdrew the prosecution and now are having fun enjoying their ill gotten gains while the country faces violence that is termed terrorism by those who were exploiting it to the hilt previously.

We have documentary ,audio and video evidence and will provide it to a court of law when Musharraf is tried in Pakistan and hopefully convicted for his crimes agaisnt Pakistan both financial and moral.

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BOARD OF DIRECTORS

	Mohamed Ahmed Zainal Alireza Mohamed Ahmed Zainal Alireza, the Chairman of HUBCO holds a B.Sc. degree and also a Masters degree in Civil Engineering from Cornell University, USA. He is also the Chairman of Xenel Industries Ltd. (Saudi Arabia, AMI Saudi Arabia Ltd. (Saudi Arabia), Tamlik Ltd., (Saudi Arabia), Saudi Services & Operations Company Ltd., Kindasa Water Services (Saudi Arabia) and Saudi Industrial Services Co. (SISCO). He was awarded the "Hilal-e-Imtiaz" by the President of the Islamic Republic of Pakistan on 14th August 1995 in recognition of his services to Pakistan.
	Fereydoon Abtahi Fereydoon Abtahi joined Xenel Industries Ltd. in 1994 and has been leading the efforts of Xenel in IPP projects. He is currently General Manager of the Infrastructure Division. His prior experience includes work at the consulting firm of Arthur D. Little, Inc. in Cambridge, Massachusetts, USA, where he was a senior professional staff and provided consulting services to private and government clients in the field of electric power generation.
	Yousuf Ahmed Y. Alireza Electrical Engineer - Part of Xenel Group
	Robin A. Bramley Tony Bramley has worked in the electricity supply industry for for 35 years since obtaining an engineering degree from Cambridge University in 1971. He has held various posts in the UK, initially specialising in performance engineering before moving into general operational management. In 1997 he took up a post in Kot Addu Power Company at the power station in Muzzaffargarh and subsequently transferred to the head office at Lahore as Commercial Manager. He returned to the UK at the end of 1999, where he works for International Power as Global Operations Manager.
	Asif A. Brohi More than 15 years experience with Banking Sector.
	Malcolm Clampin Malcolm Clampin is currently the Executive Managing Director of the Arabian Power Company in Abu Dhabi. He was previously the CEO of Kot Addu Power Company (KAPCO) in Pakistan from 2002 to 2006. Malcolm has over 35 years experience in the Power sector with International Power and has worked in Turkey, Malaysia and Poland.
	Taufique Habib Golden Arrow Selected Stocks Mutual Funds
	Zafar Iqbal Sobani Chief Executive Officer(CEO)
	M. Jawaid Iqbal 10 years experience with Corporate & Investment Banking Group.
	Qaiser Javed Qaiser Javed is a Chartered Accountant by profession with over 30 years post qualification experience. Presently he is the Director Finance of Fauji Foundation. He is on the board of directors of a number of companies in Pakistan and is also President/ member of Audit Committee and Human Resource Committee of various limited companies.
	Ahmad Raza Khan Secretary to GOB, Industries and Commerce Department.
	Ali Munir Ali Munir has a bachelor degree from Government College Lahore and an LLB degree from the University of Punjab, Lahore. He has over 30 years experience as a Chartered Accountant and is a member of the Institute of Chartered Accountants in England and Wales and the Institute of Chartered Accountants of Pakistan. He is also a member of Investment Management Regulatory Organization and The Securities Association (now known as SFA) in England. He has previously held positions at Citibank, Saudi American Bank and Habib Bank. In 2005 he was awarded the M.A. Mozaffar Memorial Gold Medal from the SBP and Institute of Bankers in relation to his services to banking reforms and agriculture finance. He is currently Chairman of SBP Committee for Agriculture Finance.
	Philippe F.A.L. Salmon Chief Financial Controller - Middle East, Asia and Africa - GDF Suez Energy Asia Co. Ltd.
	Nizam A. Shah Nizam Shah is a founding Director of Hubco. He has previously held positions as Chairman and CEO of Pakistan Tobacco Co., Chairman and CEO of National Development Finance Corporation. He has served on the Board of Civil Aviation Authority and Philips Electrical Industries and on the Advisory Councils of Ministries of Commerce and Finance and the Privatization Commission. Nizam Shah has also served as the President of Overseas Chamber of Commerce and Industry (1985-88).
	Mohammed Ashraf Tumbi Currently the Chief Financial Officer at Xenel Industries Ltd, Mohammed Ashraf Tumbi has done his CA from The Institute of Chartered Accountants (Pakistan) and a Stanford Executive Program from Stanford University, USA. While serving Xenel in the key the position of CFO, he also managed Hubco as its Chief Executive from 1 January 2005 to 28 February 2006.