Bankruptcy is part of a series of targeted actions against the Sharif family’s businesses, a spokesperson said on Monday.
The family spokesperson issued the statement in response to a UK court ruling declaring Hasan Nawaz, son of ex-PM Nawaz Sharif bankrupt yesterday.
The High Court of Justice in London declared bankrupt the son of the two-time prime minister of Pakistan after he failed to clear tax liabilities he owed to the UK government.
The details of the bankruptcy, which emerged on Sunday, were officially published in the UK Gazette, the public record for insolvency cases.
According to the Gazette, Hasan Nawaz, who resides at Flat 17, Avenfield House, 118 Park Lane, and serves as a company director, was declared bankrupt under case number 694 of 2023.
Such ups and downs are not new for the Sharif family, the spokesperson stated, adding that Just ‘to punish the Sharif family, their family business has been bankrupted four times’.
The statement added: “The process of bankruptcy started in 1972 when industries were first nationalised in the Zulfikar Ali Bhutto rule.
“After that General Pervez Musharraf repeated it and occupied the Sharif family’s houses and sealed its factories. Similarly, Saqib Nisar & Co and destroyed the Sharif family's industry.
The Sharif family endured years of hard-earned private business losses and personal suffering for the sake of the country, people and its principles,