Accountability Court orders to complete confiscation of Nawaz's assets by Oct 29

(Karachi) An Accountability Court in Islamabad issued instructions to authorities to complete the process of confiscating former premier Nawaz Sharif's assets by October 29, media reported.

The court issued the orders while hearing the Toshakhana reference case on Tuesday.

During the proceedings, a report was submitted in the court with complete details of the confiscation of assets, shares in companies and freezing of bank accounts of the PML-N founder.

The investigating officer said the confiscation process is underway, to which the court ordered the confiscation to be completed by October 29.

Earlier, Accountability Court declared Nawaz Sharif a proclaimed offender in the case after the PML-N chief failed to appear before the court despite repeated summons.

As per asset details issued by the 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 also has eight accounts in various private banks, including three foreign currency accounts and has Rs612,000 in five bank accounts and in his foreign currency accounts, Nawaz has 566 euros, 698 dollars and 498 pounds respectively.