[lbo-talk] Iftikhar Muhammad Chaudhry

Yoshie Furuhashi critical.montages at gmail.com
Wed May 16 05:07:08 PDT 2007


On 5/15/07, Steven L. Robinson <srobin21 at comcast.net> wrote:
> We can only wish that is the case. Certainly, both
> regimes seem to be in big trouble, especially in
> Pakistan. If the government there is overthrown.
> it would certainly throw a monkey wrench into US
> plans for Iran and make the Afghanistan adventure
> even more untenable. SR

I've yet to find out much about Iftikhar Muhammad Chaudhry, but one thing I do know about the justice speaks in his favor. A lot of oppositions to Musharraf don't seem to have much in common with one another, but maybe this man can serve as the symbol of all the oppositions.

<http://www.irna.ir/en/news/view/menu-235/0605249259171821.htm> Pakistani court stops Steels Mills privatization Islamabad, May 24, IRNA

Pakistan-Court Supreme Court of Pakistan on Wednesday barred the government from handing over the control of the state-owned Pakistan Steel Mills to a consortium of Russian, Saudi Arabian and Pakistani companies.

A Consortium of Magnitogorsk Iron & Steel Works (Russia), Tuwairqi Steel Mills (Saudi Arabia) and Arif Habib Securities had won bidding for 75 percent strategic stake (1,290,487,275 ordinary shares) in the share capital of Pakistan Steel Mills Corporation (PSMC) on March 31.

The consortium had offered the highest offer of Rs 16.80 per share making a total of Rs 21.680 billion i.e equivalent to US dlrs 362 million during the two rounds of bidding.

Chief of a little know group 'Pakistan Watan Party' Zafarullah had filed a petition against the privatization process.

Zafarullah in his petition had described the privatization process as illegal.

Prominent legal expert Sharifuddin Pirzada, who appeared in the Supreme Court on behalf of the Privatization Commission assured the court that the Steel Mills privatization process would be stopped till June 15.

The opposition parties had expressed reservations over the privatization process but the government insists that the process was transparent and held in the presence of local and international media.

The country's cabinet committee has already approved the privatization of the Steel Mills.

A nine-member bench of the Supreme Court, headed by Chief Justice of Pakistan Iftikhar Muhammad Chaudhry, stayed the privatization process on the first day of preliminary hearing.

Some 11 employees unions had also rejected the privatization process and the employees action committee had refused to sign agreement with the new administration.

Opponents say that the steel mills has been sold at less price than the real price.

The Supreme Court will begin formal hearing of the case by May 30.

Pakistani government defends the privatization and argues that it was running into losses for years.

News sent: 17:18 Wednesday May 24, 2006

-- Yoshie



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