Only 13 of 100 senators declare foreign assets in annual statements

Published: April 3, 2012

Only 13 of the 100 lawmakers have provided information of their assets in the US, UK, UAE, Saudi Arabia and Abu Dhabi.

ISLAMABAD: A majority of Senators have declined to divulge their assets and financial liabilities abroad, irrespective of party affiliations, according to their annual statements of assets and liabilities submitted to the Election Commission of Pakistan.

Only 13 of the 100 lawmakers of the Upper House have divulged information on their assets in the US, the United Kingdom, United Arab Emirates, Saudi Arabia and Abu Dhabi.

According to the statements, former senator and Pakistan Tehreek-e-Insaaf leader Azam Khan Swati is apparently the only senator with any debt abroad, with liabilities worth $1.08 million in the US. However, Swati did not give any breakdown of these liabilities and only declared assets in the US amounting to around $7 million in his wife’s name. He also owns different properties worth Rs3.5 million in the UAE. Swati, who was the richest senator in 2011, has assets of over Rs355 million in Pakistan as well.

Following Swati’s resignation from the Senate, Pakistan Peoples Party (PPP)  Senator Gul Muhammad Lot is now the richest lawmaker. The market value of his moveable and non-movable assets totals Rs1.08 billion. He is also at top of the list of Senators who owns assets with a market value of over Rs600 million abroad, while the market value of his immovable assets within Pakistan is over Rs481 million.

Senators who did not declare their assets left the area where they were supposed to mention their liabilities blank.

Interior Minister Rehman Malik, according to his 2010 assets declaration statement, owns a valuable house in London worth Rs340 million. But this year, his statement indicated that he has neither gained nor lost anything over the past year.

Petroleum Minister Dr Asim Hussain stated in his declaration that he owns assets worth $67,105 and some amount in the Habib Bank Limited (Pak) in the UK.

Finance Minister Dr Abdul Hafeez Sheikh, meanwhile, has property worth approximately Rs71 million in Dubai, while the value of his assets brought or remitted from outside Pakistan totals Rs30 million.

Pakistan Muslim League-Nawaz Senator Ishaq Dar of the Pakistan Muslim League-Nawaz revealed in his declaration that he owns a residential unit in Dubai worth Rs89 million. Dar, who is the leader of opposition in the Senate, also revealed that he holds shares and businesses worth millions of dollars inside and outside Pakistan.

PML-Quaid Senator Wasim Sajjad declared he has 4.4 million foreign currency in pounds and dollars; while Senator Gulshan Saeed, who owns 1,100 tolas of gold and has also sold a house in London worth 0.5 million UK pounds.

Muttahida Qaumi Movement Senator Babar Khan Ghauri owns assets worth around Rs151 million, including a business named BANS International Dubai. Awami National Party Senator Abdul Nabi Bangash owns a house outside Pakistan worth Rs15 million and the market value of his UAE-based business is over AED19 million.

The total value of Senator Adnan Khan’s assets abroad is around Rs83 million.

Meanwhile, Law Minister Muala Bakhsh Chandio informed the National Assembly that over a dozen members of the National Assembly had foreign accounts. These members include Dr Arbab Alamgir, Engineer Muhammad Tariq Khattak, Usman Khan Tarakai, Malik Azmat Khan, Munir Khan Orakzai, Chaudhry Zahid Iqbal, Salahuddin, Dr Fahmida Mirza, Talat Iqbal Mahassar, Khawaja Sohail Mansoor, Farhat Muhammad Khan, Justice (retd) Fakharun Nisa Khokhar, Begum Ishrat Ashraf, Farhanaz Isphani, Asma Arbab Alamgir and Kishan Chand Parwani, Dr Arasih Kumar, Syed Ghulam Mustafa Shah and Khawaja Muhammad Asif.

He said that a report had been prepared on the basis of information provided by the parliamentarians in their annual statements of assets and liabilities for the financial year 2009-10.

Reader Comments (19)

  • Apr 3, 2012 - 4:29PM

    And the 13 declared false assets

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  • Mohammad
    Apr 3, 2012 - 4:35PM

    Cash drain to foreign countries by politicians and brain drain from general public to foreign countries – now industry drain as well.

    We are heading to self destruction: Army, please invade…

    Recommend

  • SalSal
    Apr 3, 2012 - 4:58PM

    Assets are declared under historical costs. Not market value!!

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  • zaki
    Apr 3, 2012 - 5:13PM

    Mr Swati, what property did you buy for Rs. 3.5 million (140,000 dirhams) in the UAE and when. Probably a bed space in a camp in Al Quoz. Rather not declare then to make a fool out of people. The great khan are you listening to what your party men are declaring?

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  • zaki
    Apr 3, 2012 - 5:15PM

    BTW I am willing to buy Mr Dar’s mansion in Dubai for twice the price he has quoted. Good deal for both as I can sell it for four time the price in the market!

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  • wahab khan afridi
    Apr 3, 2012 - 5:32PM

    suppreme court shud take suo notice now against these incompetent corrupt political mafia

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  • Ali Tanoli
    Apr 3, 2012 - 5:44PM

    presindent and prime minister dont have penny in there account..Recommend

  • Ali Tanoli
    Apr 3, 2012 - 5:46PM

    If only the rich pakistanis starts giving there ZAKAT honestlly and reliegousely then i think in
    pakistan poverty will get down atleast 10%….Recommend

  • Nauman
    Apr 3, 2012 - 5:53PM

    To be honest I do not see any hope. Our so called representative are corrupt and indispensable. People are commenting on SC to take suo motu; I’m sure we’ll have a similar list of judges and lawyers.
    I’m willing to buy the property owned by Mr. Swati in Dubai for twice the amount that he quoted! The cost of a “studio” apartment in Dubai is around AED 400,000!
    I guess our nation deserves it as we always bring the same old faces election after election. Our society doesn’t have a heart! They are simply in a state of coma. “As long as its not affecting me, I don’t care”. If our society has a spine, we could have followed the revolution ignited in Tunisia.

    Recommend

  • Moosa Khan
    Apr 3, 2012 - 6:01PM

    Wish there is way to bring back their wealth (looted/unlooted) along with big boss’s billions.
    They keep dual nationalities and assets abroad just to loot and fly.
    Recommend

  • Abdul Qayyum Bhatti
    Apr 3, 2012 - 6:45PM

    Very good investigative news story! plausible
    I want to suggest that all assets of members of National and provincial assemblies including Azad Jammu and Kashmir and Gilgit Baltistan should be investigated thoroughly without discrimination. If any undeclared property is found, that property should be confiscated by the State. In this way we can start controlling the corruption starting from the leaders.
    This will not only help to declare all assets by all officials but will help to raise tax collection starting from these leaders.

    Recommend

  • Hadi Ansari
    Apr 3, 2012 - 6:49PM

    IMF,World Bank,and ICJ in coordination with UN pass a law which gives unqualified power to
    appropriate the balances in the accounts of individuals/ front companies towards reduction
    of outstanding debt of individuals country.Greece is the perfect case for this exercise,before
    we see more countries defaulting.Counter value in local currency after deduction of taxes will be paid to the individual concerned.
    Has election commission power to demand the information from those who have opted against
    it?Parliamentarians are supposed to set good examples without any exception.

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  • Indian Kashmiri
    Apr 3, 2012 - 7:49PM

    at least some people are rich

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  • Apr 3, 2012 - 8:46PM

    The requirement of asset declaration is a farce, unless it is mandatory to tell the sources of those assets.

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  • Apr 3, 2012 - 8:47PM

    How poor they are. Pakistani awaam would please donate some of amount to the lawmakers please?

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  • Mohammad Ali Siddiqui
    Apr 4, 2012 - 12:36AM

    The Senators who declared assets abroad should be asked to explain in detail and with proof in black and white as how did they manage to purchase assets in a foreign country/countries?

    It requires millions of rupees to get a political party ticket.

    Out of 100, 87 Senators seems to belong to poor families. But the question again arises: as how did they manage to get to party tickets without paying a single penny to party leader?

    Recommend

  • Harry Stone
    Apr 4, 2012 - 1:31AM

    When the WHO places a travel ban on PAK because of the issue of polio, this really becomes a non issue.

    Recommend

  • Jibran
    Apr 4, 2012 - 7:53AM

    Ishaq Dar holds shares and businesses worth millions of dollars inside and outside Pakistan.

    Can he tell the people of Pakistan the source of his assets, and how he channeled them to outside Pakistan? Money laundering as per his affidavit to the Court.

    Recommend

  • Billoo Bhaya
    Apr 4, 2012 - 8:34AM

    Remaining 87 are going to vote for NATO supplies to be opened and then they would want to return to live in the assets that they have not declared.

    Recommend

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