Assets details: Nawaz retains status of a billionaire

Published: June 16, 2017
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PHOTO: AFP

PHOTO: AFP

Prime Minister Nawaz Sharif retained the status of a billionaire he gained just before assuming the office of the country’s chief executive, with the worth of his declared assets standing at Rs1.84 billion in 2016, details released by the Election Commission of Pakistan (ECP) showed on Thursday.

And he continues to receive substantial amounts from his son despite a controversy surrounding the Panama Papers Leaks that dragged the ruling family to the courts.

The ECP released details of statements of accounts and liabilities of lawmakers for 2016.

Assets owned by Prime Minister Nawaz Sharif and his spouse, Kulsoom Nawaz, were worth just Rs166 million in 2011, which swelled to Rs1.82 billion in the following two years, his statements filed with the ECP showed.

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Since 2013, the worth of assets owned by Nawaz and his spouse is hovering around Rs2 billion, making the couple declared billionaire.

From Rs166 million in 2011, the value of their assets swelled to Rs261.6 million in 2012 and Rs1.82 billion in 2013. And In 2014, the declared value of the assets surged to Rs1.9 billion which stood at Rs1.84 billion in 2015. The amount also included Rs214 worth of assets belonging to Kulsoom Nawaz.

This makes Nawaz one of the richest members of the National Assembly.

Among others with declared assets running into billions of rupees include PTI chief Imran Khan; PTI MNA from Hangu Khayal Zaman with assets worth Rs1.8 billion; an independent member from FATA’s Kurram Agency Sajid Hussain Toori with assets worth Rs1.4 billion; and a federal cabinet member Shahid Khaqan Abbasi with assets worth Rs1.2 billion.

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Documents show that Hussain Nawaz sent his father Nawaz Sharif remittances amounting to Rs233.3 million during 2015-16. Nawaz received Rs215 million from Hussain in 2014-15, Rs239 million in 2013-14 and Rs197.5 million in 2012-13, the year he assumed the office of the Prime Minister.

Interestingly, the Prime Minister has once again declared that he does not own any property or account abroad.

PTI chief Imran Khan is also among billionaires with declared assets worth Rs1.4 billion. He sold the only vehicle registered in his name last year.

In 2015, Imran had declared the value of his total assets at Rs1.026 billion. The value of his residence, declared a ‘gift’, in Islamabad’s Bani Gala locality is Rs750 million. He had declared the same value for this property in 2015. The value of his family home in Zaman Park, Lahore is  stated to be Rs29 million.

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The PTI chief also declared that he had invested Rs40 million in various schemes. He declared his personal expenditures during the past year were Rs40.9 million.

Prime minister’s son-in-law, Muhammad Safdar, an MNA from Manshera, again declared that his wife, Mariam Safdar, does not own any asset abroad. She owns a 2006 model BMW car worth Rs6 million which was gifted to her by someone from the UAE. She had paid Rs3.4 million customs duty and other taxes to get it registered in her name.

Safdar, on the other hand, owns a plot measuring 500 square yard in Sector E-12/4 worth Rs2.5 million. He declared that he owned another plot in Mansehra worth Rs7.8 million, besides another piece of land measuring 8.15 ‘murrabas’ in Rajanpur without specifying its value.

Leader of Opposition in the National Assembly Syed Khursheed Ahmed Shah, who had declared total assets worth more than Rs40 million in 2015, stated they were now worth Rs32.68 million in 2016.

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Assets owned by Shahid Khaqan Abbasi, who has major shares in the largest private airlines of the country, are worth Rs900 million, and his lands are worth Rs400 million. Excluding a loan of Rs30 million, Abbasi’s net worth is around Rs1.29 billion. Abbasi had declared worth of his assets at Rs1.31 billion in the previous year.

The assets of PTI’s legislator Khayal Zaman are worth Rs1.89 billion. He tops the billionaires’ club of lawmakers. However, he also owes loans worth Rs450 million in the UAE, where he owns properties worth more than Rs880 million.

Ameer Jamat-e-Islami Senator Sirajul Haq has nothing other than cash deposits in two bank accounts that he holds. Haq has Rs439,472 in UBL’s Cantonment branch in Peshawar and Rs2,021,156 in Allied Bank Limited’s Parliament House branch.

Haq also has agriculture land of unknown worth, besides owning jointly 12 Kanals of land the worth of which was not mentioned either. He is also a partner in a private school.

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Federal Finance Minister Ishaq Dar owns assets worth Rs583.7 million. Dar has also invested Rs325 million in Pakistan Investment Bonds, including defence saving certificate and others.

JUI-F’s Senator Maulana Abdul Ghafoor Haideri owns a house in District Kalat, Balochistan worth Rs500,000. He also owns a plot in Gwadar worth Rs150,000, a 20-marla plot in Bhara Kahu worth Rs500,000, and a plot situated at Senate Avenue Housing Society.

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Reader Comments (14)

  • Hamza
    Jun 16, 2017 - 9:51AM

    How easy it is to get away with misstatements. Barring a shock ruling from JIT, i dont see things changing.Recommend

  • numbersnumbers
    Jun 16, 2017 - 10:24AM

    All should search Wikipedia for “List of Pakistanis by net worth” for more details!Recommend

  • Lolz
    Jun 16, 2017 - 10:24AM

    Nothing is going to change. This world is run by economics and he adheres to international norms, local laws don’t concern him. Recommend

  • Ali
    Jun 16, 2017 - 10:43AM

    Surprisingly Imran Khan is also a billionaire. He has done nothing to earn a penny in the last 10 years, is jobless for the last 24 years and still his wealth keeps on growing like crazy. And the nation is worried how Nawaz (a heir to an industrial empire) got his billion.Recommend

  • Moex
    Jun 16, 2017 - 10:48AM

    Goes to show if you yell outloud anything you want people to believe again and again, it doesn’t make it true. No matter how many times you yell it or how loud. Recommend

  • Haji Atiya
    Jun 16, 2017 - 10:54AM

    If these guys assets run into billions, I am sure that those of our pal in Dubai runs into trillions.Recommend

  • Ghulam Nabi
    Jun 16, 2017 - 12:01PM

    How did Rs166million in2011 become Rs2 billion in2016? Why’d the PM not communicate this to ordinary Pakistanis?Real Majid!!!!Recommend

  • Parvez
    Jun 16, 2017 - 1:05PM

    Why do our politicians so desperately cling to power ? ….. Answer is obvious.Recommend

  • Israr
    Jun 16, 2017 - 1:13PM

    A finance minister invests in investment schemes he launched himself! Well, I think on a Pakistani elite corruption scale, this conflict of interest scores somewhere above 1 out of 10, with 10 reserved for a PM that uses government departments to hinder course of law.Recommend

  • Haji Atiya
    Jun 16, 2017 - 1:36PM

    “retains..” ?! Why, did he suddenly go broke or is claiming for bankruptcy ?Recommend

  • Ranjha
    Jun 16, 2017 - 1:51PM

    Only Imran Khan’s account pass the reasonability test — the rest are laughable!Recommend

  • Sabeen
    Jun 16, 2017 - 2:26PM

    Sharif family is doing business since before partition. Why everyone so curious about their wealth? They are one of the biggest tax payers as well.
    Narrow-sightedness of Imran Khan and other PTI followers.
    Allah bless Pakistan.
    Allah bless Nawaz Sharif.Recommend

  • Haji Atiya
    Jun 16, 2017 - 6:56PM

    @Ali:
    Valuation of his Shaukat Khanum branches would cover part of it, the rest his ‘goodwill’.Recommend

  • Sean
    Jun 17, 2017 - 6:35AM

    His assets and wealth is ten thousand time more what he disclosed, someone with strong commitment should come in power and recover all this wealth and assets, send them to that level when they came in politics.Recommend

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