Boeing 777 and Airbus A310 Airplanes Bought by PIA are not Owned by PIA but some company in Cayman Island known as Taxila Incorporated and Fly PIA limited under Generals Musharaff , Tariq Aziz , and Ahmad saed of Servis shoes Industries who was chairman PIA.
Special SAT Report
ISLAMABAD, July 11: The Musharraf Government has flatly refused to provide the relevant documents about grossly inflated B-777 aircraft lease deals by PIA to the Defense Committee of the Pakistan Senate.
After a series of investigative reports in the South Asia Tribune, the Senate Committee had taken up the issue and held a series of hearings in which the PIA Chairman and other executives were summoned to testify.
These top management officials gave conflicting and evasive statements before the Senate Committee which ultimately demanded that copies of all the agreements signed by PIA with fake off shore companies be made available.
Initially the officials promised to provide these documents but after intervention of the Presidency, the PIA has refused to hand over the key agreements.
In a letter to the Chairman of the Committee, one of the Opposition Senators, Engineer Rukhsana Zuberi said the information as required in the requisitioned Meeting on June 9, 2004 has not yet been provided to the Committee.
A list of required documents was provided and additional information required after PIA presentation. Despite a lapse of 20 days I have received no input, she wrote.
“I am again submitting a list of documents required for Taxila Ltd and Fly PIA Ltd Inc in Cayman Island,” she added.
The documents demanded from PIA include the Memorandum of Association, Incorporation Certificate, Increditor Agreement, Master Lease Agreement, Resolution of Board of Directors,
Exim Bank Letter, PIA Guarantee, Guarantee issued by Export Import Bank of USA Participation Agreements, Citibank & Exim Bank Arrangement, Agreements for finances arranged through Banks in Pakistan for the down payment, State Bank of Pakistan 3 page letter written by Boeing to PIA on February 13th 2004, Quotations & Facilities given by Air Bus 340 & Boeing 777,
Decision Criterion.
The letter also demands the total price of each plane that has already arrived giving prices of the components bought from third parties or the original manufacturers of each component.
It may be added that except the Master Lease Agreement between PIA and Taxila Ltd, all the other documents were obtained by the South Asia Tribune and most of the important pages were released on the web site.
The Opposition senators got the copies of these documents from the web site and now want officially certified copies from the PIA so that they could proceed with the accountability of PIA bosses in the Parliament.
source: http://antisystemic.org/satribune/www.satribune.com/archives/july04/P1_pia.htm
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