NAB decides to auction Nawaz Sharif’s properties

The National Accountability Bureau (NAB) has decided to auction the properties of former Prime Minister Nawaz Sharif and his dependents. A NAB spokesperson announced this on Monday, saying that the anti-graft watchdog will file an application in an accountability court on the matter.

According to the Securities & Exchange Commission of Pakistan (SECP), Nawaz 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 owns a bungalow in Murree, a 15 kanal house in Changla Gali, Abbottabad, and property in Upper Mall Lahore.

Meanwhile, Nawaz and his dependents collectively own over 1,752 kanals of agricultural land. This 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.

Additionally, the PML-N chief has five accounts in various private banks holding some Rs.612,000. Meanwhile, his three foreign currency accounts have €566, $698, and £498 respectively.

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

The Pakistan Muslim League Nawaz (PML-N) leader failed to appear before the court despite repeated summonses. Due to which he was declared a proclaimed offender by Islamabad NAB Court-II judge, Azam Khan in the gift repository Toshakhana case in September 2020.

The court then initiated the process to confiscate the former premier's properties and directed the anti-graft watchdog to make his arrest through Interpol.

The PML-N chief has been in London since November 2019. He left with the government's permission to seek medical treatment abroad.