NAB to auction Nawaz’s properties

LAHORE: The National Accountability Bureau (NAB) on Monday decided to auction the properties owned by deposed prime minister and PML-N supreme leader Nawaz Sharif and his dependents.

In this regard, the anti-graft body will file an application in an accountability court, reports said.

In September, an accountability court in Islamabad declared Sharif a proclaimed offender in the Toshakhana reference after he failed to appear despite repeated summonses. In the same hearing, the court had also directed authorities to seize his assets.

According to the Securities and Exchange Commission of Pakistan (SECP), Sharif’s declared assets include 467,950 shares in Muhammad Bakhsh Textile Mills, 343,425 shares in Hudaibiya Paper Mills, 22,213 shares in Hudabiya Engineering Company, and 48,606 shares in Ittefaq Textile Mills.

He has eight accounts in different banks, including three foreign currency accounts. Sharif has a total of Rs612,000 in five bank accounts, while in his foreign currency accounts, he has €566, $698, and £498 respectively.

He also owns a bungalow in Murree, an 81,675 square feet house in Changla Gali, and property in Upper Mall, Lahore.

He and his dependents are in possession of more than 218 acres of agricultural land which includes 117 acres in Mouza Manak in Lahore, 37 acres in Mouza Baduksani, 12.8 acres in Mouza Mall Raiwind, 39 acres in Mouza Sultan, 1.7 acres in Sheikhupura, and 11 acres in Mouza Ferozwatan.

According to the excise and taxation offices in Lahore and Islamabad, Sharif also owns three luxury vehicles and two harvesting vehicles.

He has been residing in London since November 2019 when the government gave him one-time permission to travel abroad to get medical treatment.

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