ISLAMABAD: April 20, 2023: Pakistan Tehreek e Insaf (PTI) top leadership including Chaudhary Pervez Elahi his son, Chaudhary Moonis Elahi and many others have featured in the list of beneficiaries of the United States (US) banned petrochemical company, Alliance Energy (Pvt) Limited, based in Lahore, Pakistan.
Sources said US Department of Treasury sanctioned Alliance Energy (Pvt) Limited on March 9, 2023 for violating having illegal trade with Persian Gulf Petrochemical Industry Commercial Company (PGICC). The US sanctions carry harsh penalties and sanctions for those companies like Alliance Energy (Pvt) Limited which violate its rules and trade with PGICC during sanctions.
Alliance Energy (Pvt) Limited of Pakistan have been found guilty of having violated US sanctions and in its pursuant it was banned by US Department of Treasury in March this year and its all movable and immoveable properties have been blocked besides taking actions against its direct and indirect beneficiaries.
Following the US sanctions, Alliance Energy (Pvt) Limited is facing severe penalties and restrictions besides brining a number of extra ordinary restrictions on its owners and direct and indirect beneficiaries.
US Department of Treasury in its announcement dated March 9, 2023 made for slapping more restrictions on Alliance Energy (Pvt) Limited said all properties and interests in property of these targets that are in the United States or in the possession or control of US persons must be blocked and reported to OFAC. In addition, it noted , any entities that are owned directly or indirectly , 50 percent or more by one or more blocked persons are also blocked. It added that OFACis regulations generally prohibit all dealings by US persons or within the US (including transactions transiting the US) that involve any property or interest in the property of blocked or designated persons. In addition, it maintained, persons that engage in certain transactions with the individuals and entities designated today may themselves be exposed to sanctions or subject to an enforcement action.
NEWSMAN investigations revealed that Security and Exchange Commission of Pakistan (SECP) record shows that two Pakistani individuals –Ilyas Khan and Ishaq Khan—are owners of Alliance Energy (Pvt) Limited and it allegedly sponsored financed PTI top leaders in previous general elections. Its beneficiaries included PTI top ranking politicians including Chaudhary Pervez Elahi,
Chaudhary Moonis Elahi are facing US restrictions that may end up the political career of many PTI leaders .
Alliance Energy’s alleged financial support to Chaudhary Pervez Ealhi and Chaudhary Moonis Elahi is an open secret in Pakistan. PTI minister in Punjab, Chaudhary Ghazanfar Cheena, is allegedly also among major beneficiaries of Alliance Energy (Pvt) Limited financial resources doled out by Alliance Energy administration to PTI top ranking politicians.
According to NEWSMAN sources, US Department of Treasury has referred the case of Alliance Energy (Pvt) Limited to Pakistani authorities and demanding strcit actions against the owners of the companies and its direct and indirect beneficiaries.
These sources confirm that taking lead from US , Pakistan’s concerned departments have initiated inquiry against Alliance Energy (Pvt) Limited and its beneficiaries.