NAB unveils details of Nawaz Sharif’s assets

Former premier has eight bank accounts; shares in four companies

ISLAMABAD:

The country’s prime graft buster – the National Accountability Bureau (NAB) – has submitted a report to an accountability court, providing complete details of the movable and immovable assets of convicted former prime minister Nawaz Sharif.

Islamabad Accountability Court-II judge Azam Khan on September 10 declared Nawaz Sharif a proclaimed offender in a gift repository – Toshakhana – case after the PML-N supreme leader failed to appear before the court despite repeated summonses.

The court had also initiated the process to confiscate Nawaz’s properties and directed NAB to make his arrest through Interpol. Nawaz has been in London since November 2019 when the government gave him a rare permission to fly abroad to get medical treatment for debilitating health conditions.

On Friday, NAB investigating officer Raheel Azam submitted the report for which details had been sought from the Election Commission of Pakistan (ECP), the Federal Board of Revenue (FBR) and the Securities and Exchange Commission of Pakistan (SECP).

According to the SECP, Nawaz Sharif owns 467,950 shares in Muhammad Bakskh Textile Mill, 343,425 shares in Hudabiya Paper Mills, 22,213 shares in Hudabiya Engineering Company and 48,606 shares in Ittefaq Textile Mills.

He has eight accounts in various private banks, including three foreign currency accounts. He has Rs612,000 in five bank accounts and in his foreign currency accounts, Nawaz has €566, $698 and £498 respectively.

The Lahore Development Authority (LDC), The Galiyat Development Authority (GDA), additional-deputy commissioners of Lahore and Sheikhupura and assistant-commissioner of Murree also reported that Nawaz and his dependents have properties in Lahore, Sheikhupura, Murree and Abbottabad.

According to the report, Nawaz owns a bungalow in Murree, a 15 kanal house in Changla Gali, Abbottabad and property in Upper Mall Lahore.

He and his dependents own more than 1,752 kanals of agriculture land which includes 936 kanal in Mouza Manak in Lahore, 299 kanal in Mouza Baduksani, 103 kanal in Mouza Mall Raiwind in Lahore, 312 kanal in Mouza Sultan, 14 kanal in Sheikhupura district and 88 kanal in Mouza Ferozwatan.

According to the Excise and Taxation Office of Lahore and Islamabad, Nawaz Sharif also owned three luxury vehicles and two harvesting vehicles.