Court orders completing confiscation of Nawaz assets

ISLAMABAD: An accountability court on Tuesday ordered for completing the process of confiscating Pakistan Muslim League-N (PML-N) supremo Nawaz Sharif's assets by Oct 29. The accountability court conducted the hearing of Toshakhana reference against former president Asif Ali Zardari and former prime ministers Nawaz Sharif and Yusuf Raza Gilani. During hearing of the reference, a report was submitted to the court, providing complete details of confiscation of assets, shares in companies and freezing of bank accounts of the PML-N supremo. The investigating officer said the confiscation process was under way.

Earlier the National Accountability Bureau (NAB) submitted in the court that Nawaz Sharif owns Rs343,425 worth of shares in Hudaibiya Paper Mills, Rs467,950 worth of shares in Muhammad Baksh Textile Mills, Rs48,606 worth of shares in Ittefaq Textile Mills, and shares worth Rs22,213 in Hudaibiya Engineering Company.

He has eight accounts at multiple private banks, including three foreign currency accounts. He has 566 Euros, 698 American dollars, and 498 British pounds in foreign currency accounts, while Rs612,000 in the rest of the accounts.

The former premier also owned three vehicles, including one Land Cruiser and two Mercedes, according to the report. It said the former premier and his dependents had properties in Lahore, Sheikhupura, Murree and Abbottabad.

These properties include a bungalow in Murree and 15-kanal residence in Changla Gali in Galyat, and properties in Lahore’s Upper Mall area. A total of 1,752 kanals of land is registered in the name of Nawaz Sharif and his dependents.