Abraaj co-founder offered $20million to secure Nawaz’s cooperation in selling K-Electric stake: WSJ

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Private equity firm Abraaj’s co-founder offered to pay $20million to a Pakistani businessman in the year 2016 to to secure cooperation of then Prime Minister Nawaz Sharif in the sale of firm’s stake in K-Electric, US based newspaper Wall Street Journal reported.

In a report documenting Abraaj’s fall, the newspaper reported earlier this week that in the year 2016,  Abraaj was looking to sell its stake in K-Electric, the electricity provider to Karachi so the firm’s co-founder Arif Naqvi tried to secure the cooperation of then-prime minister, Nawaz Sharif, and his brother Shehbaz, offering a $20 million payment to businessman Navaid Malik for his help.