DATE=9/2/1999
TYPE=CORRESPONDENT REPORT
TITLE=PAK / BANK DEFAULTS (L ONLY)
NUMBER=2-255772
BYLINE=AYAZ GUL
DATELINE=ISLAMABAD
CONTENT=
VOICED AT:
INTRO: Pakistan's military ruler, Pervez Musharraf,
on Wednesday warned those who have defaulted on bank
loans that they could face criminal charges if they
don't pay back the loans by November 16th. Ayaz Gul
has a report from Islamabad.
TEXT: After the November 16th deadline, General
Musharraf says, a crackdown on those who have
defaulted on bank loans will begin. In an interview
with Pakistan's official news agency, Associated Press
of Pakistan, the military leader says that those found
guilty of financial wrongdoing risk being sent to
jail.
And General Musharraf says he does not rule out the
possibility of disqualifying those who fail to pay
their bank loans from holding public office.
Many of those who have defaulted on loans are high-
profile politicians who owe more than five billion
dollars to state banks.
The military took control of Pakistan last month
(October 12th) after ousting Prime Minister Nawaz
Sharif from power in a bloodless coup.
The deposed prime minister, now under detention, is
among those being investigated by the military regime
for alleged corruption. Pakistan's opposition parties
accuse Mr. Sharif of indulging in corrupt practices
while in power. Mr. Sharif denies the charge.
Meanwhile General Musharraf says he is reluctant to
give a time-frame for restoring democracy to Pakistan
because - in his words - there are so many issues to
be addressed.
Soon after taking control, the general listed his
priorities as reviving the ailing economy and
providing an honest political system in the country. .
According to a recent international survey, Pakistan
is the fifth most corrupt country in the world.
(Signed)
NEB/AG/KL
03-Nov-1999 12:10 PM EDT (03-Nov-1999 1710 UTC)
NNNN
Source: Voice of America
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