NAB decides to auction seized properties of Nawaz Sharif

NawazSharif

Islamabad – Staff Reporter:

The National Accountability Bureau will soon start the legal process to auction the assets of former prime minister Nawaz Sharif.

The first step will be to file an application with the Islamabad accountability court to sell the attached properties of Nawaz.

NAB’s decision comes after Nawaz Sharif was declared a proclaimed offender in the Toshakhana reference.

On January 1 last year, an accountability court had ordered the attachment of the properties of Nawaz. The former PM, however, did not surrender to the court even six months after the order of attachment of properties.

NAB said Nawaz wilfully did not surrender to the court despite being a proclaimed offender and so the attached properties without any claims are required to be sold out as per prescribed procedure.

What are Nawaz Sharif’s assets?

According to a NAB report, Nawaz has shares in four companies: 467,950 shares in Mohammad Bukhsh Textile Mills, 343,425 shares in Hudabiya Paper Mills Ltd, 22,213 shares in Hudabiya Engineering Co (Pvt) Ltd and 48,806 shares in Ittefaq Textile Mills Ltd.

He has eight accounts in private banks, including three foreign currency accounts. NAB said Nawaz had over Rs600,000 in five accounts and 566 euros, 698 dollars and 498 GBP in the foreign currency accounts.

Nawaz has nine properties to his name in Lahore, Sheikhupura, Murree and Abbottabad. This includes 135 Upper Mall Lahore, 936 kanal 10 marla and 85 feet agricultural land in Mauza Manak Lahore, a 12-acre guava orchid, 299 kanals 12 marla agricultural land in Mauza Baokisani, 103 kanal 6 marla agricultural land in Mauza Mall, Raiwind, 312 kanal 14 marla agricultural land in Mauza Sultankay, Lahore, 14 kanal 5 marla agricultural land in Mauza Manddiali, Ferozabad, 65 kanal 4 marla agricultural land in Mauza Ferozwattan, Sheikhpura, Bungalow 24-A & B and B-3, Hall Road, Murree, and a house measuring 15 kanal and 15 marlas in Changla Gali, Abbottabad.

The former PM also has a Toyota Land Cruiser model 2010 (LEB 10-1957), a Mercedes model 1973 (LHD-280), a Mercedes Benz model 1991 (IDH-78), a tractor model 2011 (LES 11-778) and a tractor model 2015 (LES-15-6024).