ISLAMABAD: The Sharif family has issued a statement in response to the recent ruling by the High Court of Justice in London declaring Hasan Nawaz, son of former Prime Minister Nawaz Sharif, bankrupt.

In the statement, a family spokesperson emphasized that the bankruptcy process for their businesses began in 1972 during the nationalization of industries under Zulfikar Ali Bhutto’s government. The spokesperson also pointed out that similar actions were taken during General Pervez Musharraf’s regime, when personal properties of the Sharif family were seized, and their factories were shut down. The statement further highlighted the difficulties faced by the family during the tenure of former Chief Justice of Pakistan, Saqib Nisar, accusing him of deliberately ruining the Sharif family’s industries.

Despite these challenges, the family maintained that they had always remained steadfast in their commitment to the country and its values. The spokesperson noted that the Sharif family had faced multiple bankruptcies of their private businesses over the years, including four instances of business failures. However, the family continued to stand by their principles and their businesses, which, according to the statement, were not liable for tax payments. The statement also supported Hasan Nawaz’s stance in the legal case, affirming that the British court’s decision was fair. On November 17, Hasan Nawaz was officially declared bankrupt by the High Court of Justice in London in connection with a tax dispute with the UK’s Tax and Revenue Department. The case was filed by Her Majesty’s Revenue and Customs (HMRC) and had been under review since August 2023. Hasan Nawaz’s legal team has indicated that they are carefully reviewing the court’s decision and intend to file a response soon.