ISLAMABAD. Dee 31: The Pakistan Banking Council ac cused the Ittefaq Group of expremier Nawaz Sharif of plundering 200 million US dollar In public funds, dismissing charges Prime Minister Benazir Bhutto was victimising the firm.

Officials of the conglomerate. run by Sharifs family, said Bhutto was singling the gr&up out for loan victimisation Just two and a half months after taking office. General Manager Haroon Pasha said the government had Issued informal directives to banks to stop them renewing working capital loans, some In-effect for 10 years, to many of the group's 21 companies.

We are unable-to obtain our

usual working capital loans." Pasha told Reuters. This is a very Ingenious method by Prime Minister Benazir Bhutto to victimise Ittefaq."

Banking Council Chairman M Ahsen in an Internal report to the government rejected the allegations and retaliated, charging the group disregarded banking regulations to accumulate huge debts It might not be able to service. "The allegations... are absolutely baseless, unfounded and frivolous which have been made with a view to cover (Ittefaq's) own misdeeds, deliberate omissions and Irregularities through which the group had plundered over 6.0 billion rupee of public funds". Ahsen said.