LONDON: In a statement issued over the recent British court ruling against Hasan Nawaz, the Sharif family said that companies are not required to pay taxes during periods of bankruptcy.
Earlier this week, the High Court of Justice in London declared Hasan Nawaz, the son of former Prime Minister and PML-N President Nawaz Sharif, bankrupt in a tax case and liability filed by the British government’s Tax and Revenue Department.
According to UK laws, a bankrupt cannot act as a director or be involved in any way in the management of a company until discharged from bankruptcy unless he has obtained permission from the court to continue as a director.
Highlighting the financial challenges in the past, the spokesperson asserted that the bankruptcy process for the Sharif family’s enterprises dates back to 1972, during Prime Minister Zulfikar Ali Bhutto’s tenure when industries were nationalized.
The statement further recalled that former president General Pervez Musharraf followed a similar path by seizing personal homes and shutting down factories of the Sharif family.
This cycle of setbacks continued with the alleged injustices under former chief justice Saqib Nisar’s tenure, during which the family’s industries were deliberately ruined.
The spokesperson claimed that the Sharif family has been deliberately pushed into financial crises four times solely to penalise them, suggesting that such turbulent periods have become a recurring reality for the family.
“Despite these financial setbacks, the family continued to stand for the country and its principles. The companies undergoing bankruptcy do not pay taxes, and the British court has rightly upheld Hasan Nawaz’s stance in the case,” the spokesperson reiterated.
