QAUMI KHAZANE KE LOOT MAAR.....MUST WATCH
Ye eik aise Video ha jo ke har Pakistani ko zaroor dekhni chahye.////
Sunday, 28 December 2014
QAUMI KHAZANE KE LOOT MAAR-REKO DIQ BALOUCHISTAN
QAUMI KHAZANE KE LOOT MAAR.....MUST WATCH
Ye eik aise Video ha jo ke har Pakistani ko zaroor dekhni chahye.////
Educated Mothers Raise Educated Youth
Educated Mothers Raise Better Children
With extreme apology, I must say that where mothers are appreciated for their brave, intelligent, successful children, they must be blamed for their cruel, hyperactive and aggressive off springs. When we say, mother's lap is the first place to learn, we must not forget the people who commit crimes, kill other innocent citizens and rape their sisters. Why not their mothers take charge of their deeds? Why not their mothers are liable for their sick personalities and ill behavioural aspects?
It is very important to understand what I want to say in this regard. No doubt, mothers are always loving, caring and nurturing by nature. No doubt mother must be respected everywhere. No doubt, mothers cannot stop crime and cruelty among society members. We cannot deny the mother's contribution to her children, whether she is educated or not. But at the same time, we cannot ignore mothers too when we talk about suicide bombers, honour killers, rapists, and terrorists.
Should we not educate mothers to teach their children about love, humanity, friendship, caring, sympathy, helping, generosity and gratitude. Should we not take measures to educate mothers before educating criminals, killers and suicide bomb blasters. Should not we deal with the root cause intelligently and wisely? Should not we take the mothers' role seriously in eradicating the insecurity from the society? Should not we call mothers help to decide about our future's peace and harmony in the most realistic manner? Only in this way, in my opinion the root cause of the unrest can be tackled with success.
Mothers can play a big role in maintaining a peace in the region. Mothers can stop the war of terrorism forever. Only mothers can perform such a duty in this critical time and help all of us miraculously. Only mothers can take the charge of bringing a change in society through their unconditional love towards their children and a firm attitude towards the negation of terrorist activities. Only mothers need to be awakened and get their children back on track!
Punjab Got Huge Chunk of Resources
All Pakistani Resources Diverted To Punjab
Unfortunately, Pakistanis are one nation which refuses to learn from history. We have a tendency of viewing everything in the context of religion, therefore even the good deeds of non-Muslim nations are brushed aside as sinful. For example the European countries, learning from their history, separated the religion from the affairs of estate. This was the time when the Church, in connivance with the monarchy, exploited the religious sentiments of the masses to help the monarchy in usurping the rights of common citizens and in maintaining their iron grip over the estate.
The civilized and technological advanced Europe we see today, is the result of eliminating the role of religious establishment from the matters of estate.
On the other hand, we in Pakistan, continue to let the religious leaders and religious-political parties to dictate the policies of estate. Generations after generation these religious leaders have played havoc with the country's progress and have ensured that their own vested interests are served. This handful group of people has thrived on anti-India and anti-all religions sentiments.
This is why whenever there is an attempt to improve the ties with India, these religious parties swing in to action to oppose such moves. Their objective is not the betterment of our country, for if that had been the case they would have whole-heartedly supported such moves as the huge funds spent on reinforcing our eastern borders could be easily diverted towards development projects. The main objective of these religious parties is to ensure the continuation of billion of rupees in donations which they collect in the name of anti-India slogans.
Interestingly these religious contractors are not the only ones who consider it their responsibility to dictate our foreign policy. There are some journalists and anchorpersons who too are always trying to keep the war hysteria alive.
This nexus of religious establishment and journalists is visible these days in a Show of Dunya News where the anchorperson Kamran Shahid along with some religious leaders, is seen indulging in useless and at times pointless arguments with Indian Journalists and intelligentsia. I don't have any problem with the nature of the program but what sends my blood boiling is that both Kamran Shahid and his panellists, keep blaming the Indians for the fall of Dhaka in 1971.
It is sad to note despite losing one half of the country, our so called opinion makers have not learned the lesson from history. Blaming India is easy but the fact of the matter is that we ourselves are responsible for what happened in 1971.
The separation of East Pakistan was in the making for a long time, the continued neglect, denial of rights and uneven distribution of resources had nurtured the sense of deprivation which finally culminated in the demand for separation from East Pakistan.
Sadly, instead of learning lessons from our history and mistakes, we blame India for the creation of Bangladesh. The religious establishment which has always strengthened the hands of landlords and politicians, had termed the people of East Pakistan as anti-Islam, they had formed their own death squads which indulged in merciless and brutal killing of Bengalis.
Things are not much different today, journalists like Kamran Shahid use religious leaders to endorse the view that Pakistan's politicians and religious leaders were innocent and it was actually India which had caused the separation of East Pakistan.
These journalists are turning a blind eye to the sense of deprivation prevailing among the people of smaller provinces. All resources are being diverted to Punjab and in some cases the funds allocated for projects of other provinces are being diverted towards Punjab, to be precise in Lahore. The atrocities being committed in Karachi are completely being ignored, while the rights of Baloch people are also being denied.
Things are again moving towards the 1971 direction. The failure to learn lessons from history has brought the country to the point where there are separatist movements in Sindh and Balochistan, while other parts of the country are also heading in the same direction.
We must address the issues and must ensure equal distribution of resources to prevent a tragedy like 1971, whereas there is a strong need to keep the religion out of politics also.
May Allah bless Pakistan.
My Days In The United States
My Days In The United States
In July 2013, when I applied for the US-Pakistan professional partnership program for journalists, I was very much excited. It was like applying for a journey to a most discussed, anticipated and disliked country (above 80% of Pakistanis dislike United States a survey by Wall Street in 2013 revealed) in Pakistan, The United States. The term "disliked" might sound painful for most of the Americans, who have from their taxes given more than $30 billion in previous years as direct aid apart from other indirect aids to Pakistan. Unlike many who apply, I was sure from the start of the application process that I will be selected. This was because of the work I had done in my profession as a journalist as I was sure that in United States, you are never denied if you deserve it.
I was called for an interview, and it came to me differently as during the interview they found that I am "overqualified" for this program. So I was simply told at the end of the Interview, "You are overqualified, best of luck". So my anticipation went wrong. I was kinda sad, but at the same time overcame my sadness by sharing the views of the 80% of the Pakistanis and thought "Allah does not wants me to the US". But then suddenly months later I found a call from United States Education Foundation in Pakistan (USEFP) in June 2013 about my selection in the program.
It was like a surprise to me when I had already left thinking of it. So after sending them required documents and applying for J1 visa online, I was called for an interview to the US embassy in Islamabad. In 3 weeks time, I got the Visa and headed to United states with my 20 other journalist colleagues on August 5, 2014. While standing in the queue with my Pakistani passport waiting for my turn to be interviewed at the immigration counter in Abu Dhabi for US pre clearance, I felt both worried and excited. Would immigration authorities interrogate me because I was coming from Pakistan? I wondered, thinking of some of the stories I'd heard from friends who had been to Pakistan and from the media reports we usually see in our newspapers, I found that not even us but US citizens were facing the same tough immigration process. So it was revealed on me that It is not about Pakistan at all, but it all about the security of the American people. So after a series of questions about my purpose of visit to the US, I was cleared and reached Washington DC.
Still I was worried; how was I going to be received by Americans as a Muslim Pakistani? Overall, the experience has been much more positive than I had expected. And I quickly learned that stereotypes go both ways. In the United States, I am often mistaken for an Indian. When I correct someone by telling that I am not from India but from Pakistan, the response is often one of dismay: "Oh, the lack of law and order there is terrible!" It makes me sad that this is how Americans see Pakistan. We were welcomed by Nolan Meyer, program officer for ICFJ's Pakistan programs. We headed towards One Washington Circle Hotel. Being tired of travel I preferred to stay at hotel and left my quest for seeing Washington on the other day despite the fact that some of my fellow colleagues were energetic enough that they managed to go out and found some stores nearby to buy some necessities.
Before coming to US, when I was told that it is handy for a visitor to keep some souvenirs to be presented to the people you meet in the US, I was aware of the fact that not many people know Pakistan as we think that they do. So rather buying some key chains or caps, I preferred to write a booklet about Pakistan-US relations. Just to make a souvenir that will last longer and will benefit many Americans in their knowledge about Pakistan. Our next day started with an Orientation at ICFJ by Elisa Tinsley, Deputy Vice President Programs, Babar Taimoor, Program Director and Nolan Meyer, Program Officer. We then headed towards "Newseum" a museum of Journalism in Washington, DC. It started with a lecture by Gene Policinski, CEO, Newseum Institute and ended by visiting 6 floors of the Newseum where the great history of struggle in journalism has been preserved in an excellent way.
On our return, we were given our credit cards and iPhones by ICFJ. At night, I with my few other colleagues went to a Pakistani restaurant which Nolan had already shown us to take the dinner. The next day started with our visit to All Dulles Area Muslim Society (ADAMS) Center in Washington. It is a Muslim Community Centre and Mosque. Learnt a lot about Islam in USA. Our narrow minds towards other religions were broadened by Farhanahz Ellis, Interfaith Director and Imam Majid. Before our departure I Presented my booklet on Pak US Relations to them. Later we went to see the US Capitol and quite frankly, Americans love democracy as their baby. It's the most sacred governance way they are proud of and they deserve it. In US capitol, I first in my life had an experience to see the 4D movie. It was a joyful experience.
Next day started with a discussion with Dr. Stephen Cohen, Senior Fellow Foreign Policy Brookings Institute and Dr. Marvin Weinbaum Scholar in Residence The Middle East Institute. Dr. Stephen Cohen and Dr. Marvin are well known US Scholars in Pakistan . Both are very expert and lead the American Think Tanks on Pakistan. Learnt a lot. Also met Mr. Nadeem Hotiana, Press Attaché Pakistan Embassy in the US. Presented my booklet on Pak-US Relations to all of them. It was a learning Experience. Later, we Visited Department of State and had a discussion with Assistant Secretary Public Affairs United States, Doug Frantz. He is himself an encyclopaedia on Pakistan. Also met with Michael C. Duffin, Office of Pakistan Affairs, Annie M. Simpkins, Pakistan Desk Officer and Dr. Kiran Pervez, Regional Chair South Asia and Central Asia. Discussed Israel Ghaza Issue, Kashmir, Pak India Relations, Pak Afghan Relations, Taliban and Haqqani Network, Financial Aid, Issues of Electricity and power shortage, Nuclear Deal, and Education. They explained the American Narrative very well. For me, except in the Case of Israel and Hamas, on most of the issues, US narrative was more powerful than ours.
On August 9, 2014 we had to go towards our placement places. Every journalist is placed at different newspapers in different states in Unites States. We went apart and have reached at our placement cities. Tomorrow the most important phase of our fellowship starts. We will be working in the news rooms of different united states newspapers for the next three weeks. Its an opportunity that will not only add value to our experience in journalism but will also help us in understanding America better.
I was called for an interview, and it came to me differently as during the interview they found that I am "overqualified" for this program. So I was simply told at the end of the Interview, "You are overqualified, best of luck". So my anticipation went wrong. I was kinda sad, but at the same time overcame my sadness by sharing the views of the 80% of the Pakistanis and thought "Allah does not wants me to the US". But then suddenly months later I found a call from United States Education Foundation in Pakistan (USEFP) in June 2013 about my selection in the program.
It was like a surprise to me when I had already left thinking of it. So after sending them required documents and applying for J1 visa online, I was called for an interview to the US embassy in Islamabad. In 3 weeks time, I got the Visa and headed to United states with my 20 other journalist colleagues on August 5, 2014. While standing in the queue with my Pakistani passport waiting for my turn to be interviewed at the immigration counter in Abu Dhabi for US pre clearance, I felt both worried and excited. Would immigration authorities interrogate me because I was coming from Pakistan? I wondered, thinking of some of the stories I'd heard from friends who had been to Pakistan and from the media reports we usually see in our newspapers, I found that not even us but US citizens were facing the same tough immigration process. So it was revealed on me that It is not about Pakistan at all, but it all about the security of the American people. So after a series of questions about my purpose of visit to the US, I was cleared and reached Washington DC.
Still I was worried; how was I going to be received by Americans as a Muslim Pakistani? Overall, the experience has been much more positive than I had expected. And I quickly learned that stereotypes go both ways. In the United States, I am often mistaken for an Indian. When I correct someone by telling that I am not from India but from Pakistan, the response is often one of dismay: "Oh, the lack of law and order there is terrible!" It makes me sad that this is how Americans see Pakistan. We were welcomed by Nolan Meyer, program officer for ICFJ's Pakistan programs. We headed towards One Washington Circle Hotel. Being tired of travel I preferred to stay at hotel and left my quest for seeing Washington on the other day despite the fact that some of my fellow colleagues were energetic enough that they managed to go out and found some stores nearby to buy some necessities.
Before coming to US, when I was told that it is handy for a visitor to keep some souvenirs to be presented to the people you meet in the US, I was aware of the fact that not many people know Pakistan as we think that they do. So rather buying some key chains or caps, I preferred to write a booklet about Pakistan-US relations. Just to make a souvenir that will last longer and will benefit many Americans in their knowledge about Pakistan. Our next day started with an Orientation at ICFJ by Elisa Tinsley, Deputy Vice President Programs, Babar Taimoor, Program Director and Nolan Meyer, Program Officer. We then headed towards "Newseum" a museum of Journalism in Washington, DC. It started with a lecture by Gene Policinski, CEO, Newseum Institute and ended by visiting 6 floors of the Newseum where the great history of struggle in journalism has been preserved in an excellent way.
On our return, we were given our credit cards and iPhones by ICFJ. At night, I with my few other colleagues went to a Pakistani restaurant which Nolan had already shown us to take the dinner. The next day started with our visit to All Dulles Area Muslim Society (ADAMS) Center in Washington. It is a Muslim Community Centre and Mosque. Learnt a lot about Islam in USA. Our narrow minds towards other religions were broadened by Farhanahz Ellis, Interfaith Director and Imam Majid. Before our departure I Presented my booklet on Pak US Relations to them. Later we went to see the US Capitol and quite frankly, Americans love democracy as their baby. It's the most sacred governance way they are proud of and they deserve it. In US capitol, I first in my life had an experience to see the 4D movie. It was a joyful experience.
Next day started with a discussion with Dr. Stephen Cohen, Senior Fellow Foreign Policy Brookings Institute and Dr. Marvin Weinbaum Scholar in Residence The Middle East Institute. Dr. Stephen Cohen and Dr. Marvin are well known US Scholars in Pakistan . Both are very expert and lead the American Think Tanks on Pakistan. Learnt a lot. Also met Mr. Nadeem Hotiana, Press Attaché Pakistan Embassy in the US. Presented my booklet on Pak-US Relations to all of them. It was a learning Experience. Later, we Visited Department of State and had a discussion with Assistant Secretary Public Affairs United States, Doug Frantz. He is himself an encyclopaedia on Pakistan. Also met with Michael C. Duffin, Office of Pakistan Affairs, Annie M. Simpkins, Pakistan Desk Officer and Dr. Kiran Pervez, Regional Chair South Asia and Central Asia. Discussed Israel Ghaza Issue, Kashmir, Pak India Relations, Pak Afghan Relations, Taliban and Haqqani Network, Financial Aid, Issues of Electricity and power shortage, Nuclear Deal, and Education. They explained the American Narrative very well. For me, except in the Case of Israel and Hamas, on most of the issues, US narrative was more powerful than ours.
On August 9, 2014 we had to go towards our placement places. Every journalist is placed at different newspapers in different states in Unites States. We went apart and have reached at our placement cities. Tomorrow the most important phase of our fellowship starts. We will be working in the news rooms of different united states newspapers for the next three weeks. Its an opportunity that will not only add value to our experience in journalism but will also help us in understanding America better.
US Gunmaker For Bribing Pakistani Officials
SEC Fines US Gunmaker For Bribing Pakistani Officials
US gun manufacturer Smith and Wessen has agreed to pay the U.S. government $2 million fine for bribing officials in Pakistan, Indonesia and other countries as it tried to sell firearms to military and law enforcement agencies, according to US media reports.
The company has also implemented new procedures for its overseas business practices. It will report back to the US SEC (Securities Exchange Commission) on itsFCPA (Foreign Corrupt Practices Act)compliance efforts for the next two years.
Here are some excerpts from SEC's press release on this settlement:
According to the SEC’s order instituting a settled administrative proceeding, the Springfield, Mass.-based firearms manufacturer sought to break into new markets overseas starting in 2007 and continuing into early 2010. During that period, Smith & Wesson’s international sales staff engaged in a pervasive effort to attract new business by offering, authorizing, or making illegal payments or providing gifts meant for government officials in Pakistan, Indonesia, and other foreign countries.
“This is a wake-up call for small and medium-size businesses that want to enter into high-risk markets and expand their international sales,” said Kara Brockmeyer, chief of the SEC Enforcement Division’s FCPA Unit. “When a company makes the strategic decision to sell its products overseas, it must ensure that the right internal controls are in place and operating.”
According to the SEC’s order, Smith & Wesson retained a third-party agent in Pakistan in 2008 to help the company obtain a deal to sell firearms to a Pakistani police department. Smith & Wesson officials authorized the agent to provide more than $11,000 worth of guns to Pakistani police officials as gifts, and then make additional cash payments. Smith & Wesson ultimately won a contract to sell 548 pistols to the Pakistani police for a profit of $107,852. The SEC’s order finds that Smith & Wesson employees made or authorized improper payments related to multiple other pending or contemplated international sales contracts.
The SEC’s order finds that Smith & Wesson also authorized improper payments to third-party agents who indicated that portions would be provided to foreign officials in Turkey, Nepal, and Bangladesh. The attempts to secure sales contracts in those countries were ultimately unsuccessful.
The SEC’s order finds that Smith & Wesson violated the anti-bribery, internal controls and books and records provisions of the Securities Exchange Act of 1934. The company agreed to pay $107,852 in disgorgement, $21,040 in prejudgment interest, and a $1.906 million penalty. Smith & Wesson consented to the order without admitting or denying the findings. The SEC considered Smith & Wesson’s cooperation with the investigation as well as the remedial acts taken after the conduct came to light. Smith & Wesson halted the impending international sales transactions before they went through, and implemented a series of significant measures to improve its internal controls and compliance process. The company also terminated its entire international sales staff.
Similar allegations have in the past surfaced in FCPA cases relating toMicrosoft, Siemens, Paxar and other foreign entities in Pakistan. Last year, US media reported that an unnamed provincial minister in Punjab government and his wife traveled to the United States in December 2009 to close a $9 million deal for Microsoft Office software. The trip was booked by a travel agent working for Microsoft. Microsoft paid the costs of business class fare and stay at a luxury hotel in the United States, according to the Wall Street Journal. In another case, Paxar Corporation, a New York listed company acquired by Avery, acknowledged paying $30,000 to bribe Pakistani customs officials in 2008 through its local customs broker. Avery, a California-based company, manufactures and markets various office products in several dozen countries around the world.
Raymond Baker, author of "Capitalism's Achilles Heel", has detailed billions of dollars worth of bribes received by government leaders in several developing countries including Pakistan. Here's a brief except from Baker's book on Sharif family:
"At least $160 million pocketed from a contract to build a highway from Lahore, his home town, to Islamabad, the nation’s capital. At least $140 million in unsecured loans from Pakistan’s state banks. More than $60 million generated from government rebates on sugar exported by mills controlled by Mr. Sharif and his business associates. At least $58 million skimmed from inflated prices paid for imported wheat from the United States and Canada. In the wheat deal, Mr. Sharif ’s government paid prices far above market value to a private company owned by a close associate of his in Washington, the records show. Falsely inflated invoices for the wheat generated tens of millions of dollars in cash."
Baker mentions the use of several offshore entities in British Virgin Islands and Channel Islands controlled by the family of Prime Minister Nawaz Sharif to launder billions of dollars received in bribes.
Similar details are offered in the book that explain how Bhutto-Zardari family have siphoned off money from deals made by Pakistan government. Here's a more extensive excerpt from Baker's book:
Upon taking office in 1988, Bhutto reportedly appointed 26,000 party hacks to state jobs, including positions in state-owned banks. An orgy of lending without proper collateral followed. Allegedly, Bhutto and Zardari “gave instructions for billions of rupees of unsecured government loans to be given to 50 large projects. The loans were sanctioned in the names of ‘front men’ but went to the ‘Bhutto-Zardari combine.’ ” Zardari suggested that such loans are “normal in the Third World to encourage industrialisation.” He used 421 million rupees (about £10 million) to acquire a major interest in three new sugar mills, all done through nominees acting on his behalf. In another deal he allegedly received a 40 million rupee kickback on a contract involving the Pakistan Steel Mill, handled by two of his cronies. Along the way Zardari acquired a succession of nicknames: Mr. 5 Percent, Mr. 10 Percent, Mr. 20 Percent, Mr. 30 Percent, and finally, in Bhutto’s second term when he was appointed “minister of investments,” Mr. 100 Percent. The Pakistan government’s largest source of revenues is customs duties, and therefore evasion of duties is a national pastime. Isn’t there some way to tap into this major income stream, pretending to fight customs corruption and getting rich at the same time? Of course; we can hire a reputable (or disreputable, as the case may be) inspection company, have the government pay the company about a one percent fee to do price checking on imports, and get multimillion-dollar bribes paid to us upon award of the contracts. Société Générale de Surveillance (SGS), headquartered in Switzerland, and its then subsidiary Cotecna, the biggest group in the inspection business, readily agreed to this subterfuge. Letters in 1994 promised “consultancy fees,” meaning kickbacks, of 6 percent and 3 percent to two British Virgin Island (BVI) companies, Bomer Finances Inc. and Nassam Overseas Inc., controlled by Bhutto and Zardari. Payments of $12 million were made to Swiss bank accountsof the BVI companies. SGS allegedly has paid kickbacks on other inspection contracts around the world. Upon being accused in the inspection kickback scheme, Bhutto sniffed, “I ran the government to the best of my honest ability. And I did it for nothing but acknowledgment and love.” Then there was the 1994 deal to import $83 million worth of tractors from Poland. Ursus Tractors allegedly paid a 7 percent commission to another of Zardari’s Caribbean companies, Dargal Associated. Bhutto waived import duties on the tractors, costing the Pakistani government some 1.7 billion rupees in lost revenues. Upon discovery of this scheme the Poles hastened to turn over 500 pages of documentation confirming the kickback. The Polish tractor deal was just a warm-up for the French fighter jet deal. After the U.S. government cancelled a sale of two squadrons of F-16s, Bhutto dangled a $4 billion contract for Mirages in front of the French—Dassault Aviation; Snecma, the engine manufacturer; and Thomson-CSF, producer of aviation electronics. Without missing a beat they allegedly agreed to pay a “remuneration” of 5 percent to Marleton Business S.A., yet another of Zardari’s British Virgin Island companies. This would have generated a tidy $200 million for the Bhutto-Zardari couple, but unfortunately for them she was driven from office before they could collect. Ah, but the gold deal gave some comfort to these aspiring kleptocrats. Gold is culturally important in the Asian subcontinent, in particular as a way for women to accumulate wealth. Upwards of $100 billion is invested in this unproductive asset in Pakistan, India, and surrounding countries. Smuggling is big business. Ostensibly to regulate the trade, a Pakistani bullion dealer in Dubai, Abdul Razzak Yaqub, asked Bhutto for an exclusive import license. In 1994, yet another Zardari offshore company, M.S. Capricorn Trading, was created in the British Virgin Islands. Later in the year, Jens Schlegelmilch, “a Swiss lawyer who was the Bhutto family’s attorney in Europe and close personal friend for more than 20 years,” opened an account for Capricorn Trading at the Dubai branch of Citibank. According to a 1999 U.S. Senate report: “Mr. Schlegelmilch did not reveal to the Dubai banker that Mr. Zardari was the beneficial owner of the PIC [private investment company], and the account manager never asked him the identity of the beneficial owner of the account. . . . Shortly after opening the account in Dubai, Mr. Schlegelmilch signed a standard referral agreement with Citibank Switzerland private bank guaranteeing him 20 percent of the first three years of client net revenues earned by the bank from each client he referred to the private bank.” In other words, Citibank was contracting to pay a finder’s fee for millions brought in from dubious sources. Citibank went on to open three accounts in Switzerland for Zardari, with Schlegelmilch as the signatory. In October 1994, Citibank records show that $10 million was deposited into Capricorn’s Dubai account by Razzak Yaqub’s company, A.R.Y. International Exchange. In December, Razzak Yaqub received an exclusive import license and proceeded over the next three years to ship more than $500 million in gold to Pakistan. Additional deposits flowed into the Dubai and Swiss Citibank accounts, and funds also were shifted to Citibank Channel Island subsidiaries. The original ceiling on the accounts of $40 million was reached quickly.
Here are some excerpts from SEC's press release on this settlement:
According to the SEC’s order instituting a settled administrative proceeding, the Springfield, Mass.-based firearms manufacturer sought to break into new markets overseas starting in 2007 and continuing into early 2010. During that period, Smith & Wesson’s international sales staff engaged in a pervasive effort to attract new business by offering, authorizing, or making illegal payments or providing gifts meant for government officials in Pakistan, Indonesia, and other foreign countries.
“This is a wake-up call for small and medium-size businesses that want to enter into high-risk markets and expand their international sales,” said Kara Brockmeyer, chief of the SEC Enforcement Division’s FCPA Unit. “When a company makes the strategic decision to sell its products overseas, it must ensure that the right internal controls are in place and operating.”
According to the SEC’s order, Smith & Wesson retained a third-party agent in Pakistan in 2008 to help the company obtain a deal to sell firearms to a Pakistani police department. Smith & Wesson officials authorized the agent to provide more than $11,000 worth of guns to Pakistani police officials as gifts, and then make additional cash payments. Smith & Wesson ultimately won a contract to sell 548 pistols to the Pakistani police for a profit of $107,852. The SEC’s order finds that Smith & Wesson employees made or authorized improper payments related to multiple other pending or contemplated international sales contracts.
The SEC’s order finds that Smith & Wesson also authorized improper payments to third-party agents who indicated that portions would be provided to foreign officials in Turkey, Nepal, and Bangladesh. The attempts to secure sales contracts in those countries were ultimately unsuccessful.
The SEC’s order finds that Smith & Wesson violated the anti-bribery, internal controls and books and records provisions of the Securities Exchange Act of 1934. The company agreed to pay $107,852 in disgorgement, $21,040 in prejudgment interest, and a $1.906 million penalty. Smith & Wesson consented to the order without admitting or denying the findings. The SEC considered Smith & Wesson’s cooperation with the investigation as well as the remedial acts taken after the conduct came to light. Smith & Wesson halted the impending international sales transactions before they went through, and implemented a series of significant measures to improve its internal controls and compliance process. The company also terminated its entire international sales staff.
Similar allegations have in the past surfaced in FCPA cases relating toMicrosoft, Siemens, Paxar and other foreign entities in Pakistan. Last year, US media reported that an unnamed provincial minister in Punjab government and his wife traveled to the United States in December 2009 to close a $9 million deal for Microsoft Office software. The trip was booked by a travel agent working for Microsoft. Microsoft paid the costs of business class fare and stay at a luxury hotel in the United States, according to the Wall Street Journal. In another case, Paxar Corporation, a New York listed company acquired by Avery, acknowledged paying $30,000 to bribe Pakistani customs officials in 2008 through its local customs broker. Avery, a California-based company, manufactures and markets various office products in several dozen countries around the world.
"At least $160 million pocketed from a contract to build a highway from Lahore, his home town, to Islamabad, the nation’s capital. At least $140 million in unsecured loans from Pakistan’s state banks. More than $60 million generated from government rebates on sugar exported by mills controlled by Mr. Sharif and his business associates. At least $58 million skimmed from inflated prices paid for imported wheat from the United States and Canada. In the wheat deal, Mr. Sharif ’s government paid prices far above market value to a private company owned by a close associate of his in Washington, the records show. Falsely inflated invoices for the wheat generated tens of millions of dollars in cash."
Baker mentions the use of several offshore entities in British Virgin Islands and Channel Islands controlled by the family of Prime Minister Nawaz Sharif to launder billions of dollars received in bribes.
Similar details are offered in the book that explain how Bhutto-Zardari family have siphoned off money from deals made by Pakistan government. Here's a more extensive excerpt from Baker's book:
Upon taking office in 1988, Bhutto reportedly appointed 26,000 party hacks to state jobs, including positions in state-owned banks. An orgy of lending without proper collateral followed. Allegedly, Bhutto and Zardari “gave instructions for billions of rupees of unsecured government loans to be given to 50 large projects. The loans were sanctioned in the names of ‘front men’ but went to the ‘Bhutto-Zardari combine.’ ” Zardari suggested that such loans are “normal in the Third World to encourage industrialisation.” He used 421 million rupees (about £10 million) to acquire a major interest in three new sugar mills, all done through nominees acting on his behalf. In another deal he allegedly received a 40 million rupee kickback on a contract involving the Pakistan Steel Mill, handled by two of his cronies. Along the way Zardari acquired a succession of nicknames: Mr. 5 Percent, Mr. 10 Percent, Mr. 20 Percent, Mr. 30 Percent, and finally, in Bhutto’s second term when he was appointed “minister of investments,” Mr. 100 Percent. The Pakistan government’s largest source of revenues is customs duties, and therefore evasion of duties is a national pastime. Isn’t there some way to tap into this major income stream, pretending to fight customs corruption and getting rich at the same time? Of course; we can hire a reputable (or disreputable, as the case may be) inspection company, have the government pay the company about a one percent fee to do price checking on imports, and get multimillion-dollar bribes paid to us upon award of the contracts. Société Générale de Surveillance (SGS), headquartered in Switzerland, and its then subsidiary Cotecna, the biggest group in the inspection business, readily agreed to this subterfuge. Letters in 1994 promised “consultancy fees,” meaning kickbacks, of 6 percent and 3 percent to two British Virgin Island (BVI) companies, Bomer Finances Inc. and Nassam Overseas Inc., controlled by Bhutto and Zardari. Payments of $12 million were made to Swiss bank accountsof the BVI companies. SGS allegedly has paid kickbacks on other inspection contracts around the world. Upon being accused in the inspection kickback scheme, Bhutto sniffed, “I ran the government to the best of my honest ability. And I did it for nothing but acknowledgment and love.” Then there was the 1994 deal to import $83 million worth of tractors from Poland. Ursus Tractors allegedly paid a 7 percent commission to another of Zardari’s Caribbean companies, Dargal Associated. Bhutto waived import duties on the tractors, costing the Pakistani government some 1.7 billion rupees in lost revenues. Upon discovery of this scheme the Poles hastened to turn over 500 pages of documentation confirming the kickback. The Polish tractor deal was just a warm-up for the French fighter jet deal. After the U.S. government cancelled a sale of two squadrons of F-16s, Bhutto dangled a $4 billion contract for Mirages in front of the French—Dassault Aviation; Snecma, the engine manufacturer; and Thomson-CSF, producer of aviation electronics. Without missing a beat they allegedly agreed to pay a “remuneration” of 5 percent to Marleton Business S.A., yet another of Zardari’s British Virgin Island companies. This would have generated a tidy $200 million for the Bhutto-Zardari couple, but unfortunately for them she was driven from office before they could collect. Ah, but the gold deal gave some comfort to these aspiring kleptocrats. Gold is culturally important in the Asian subcontinent, in particular as a way for women to accumulate wealth. Upwards of $100 billion is invested in this unproductive asset in Pakistan, India, and surrounding countries. Smuggling is big business. Ostensibly to regulate the trade, a Pakistani bullion dealer in Dubai, Abdul Razzak Yaqub, asked Bhutto for an exclusive import license. In 1994, yet another Zardari offshore company, M.S. Capricorn Trading, was created in the British Virgin Islands. Later in the year, Jens Schlegelmilch, “a Swiss lawyer who was the Bhutto family’s attorney in Europe and close personal friend for more than 20 years,” opened an account for Capricorn Trading at the Dubai branch of Citibank. According to a 1999 U.S. Senate report: “Mr. Schlegelmilch did not reveal to the Dubai banker that Mr. Zardari was the beneficial owner of the PIC [private investment company], and the account manager never asked him the identity of the beneficial owner of the account. . . . Shortly after opening the account in Dubai, Mr. Schlegelmilch signed a standard referral agreement with Citibank Switzerland private bank guaranteeing him 20 percent of the first three years of client net revenues earned by the bank from each client he referred to the private bank.” In other words, Citibank was contracting to pay a finder’s fee for millions brought in from dubious sources. Citibank went on to open three accounts in Switzerland for Zardari, with Schlegelmilch as the signatory. In October 1994, Citibank records show that $10 million was deposited into Capricorn’s Dubai account by Razzak Yaqub’s company, A.R.Y. International Exchange. In December, Razzak Yaqub received an exclusive import license and proceeded over the next three years to ship more than $500 million in gold to Pakistan. Additional deposits flowed into the Dubai and Swiss Citibank accounts, and funds also were shifted to Citibank Channel Island subsidiaries. The original ceiling on the accounts of $40 million was reached quickly.
Friday, 26 December 2014
free download English To Urdu Cleantouch dictionary
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