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Pakistan

Toshakhana case: Court orders auction of Nawaz Sharif's seized properties

  • The decision comes on a plea by the National Accountability Bureau (NAB) seeking auction of the seized properties of former prime minister Nawaz Sharif
  • The accountability judge directed the authorities concerned to auction the former premier’s moveable and immoveable properties and deposit the money into the national exchequer
23 Apr 2021

(Karachi) An accountability court in Islamabad has directed the authorities to auction seized properties owned by PML-N supremo Nawaz Sharif in the Toshakhana reference case, local media reported on Friday.

As per details, the decision comes on a plea by the National Accountability Bureau (NAB) seeking auction of the seized properties of former prime minister Nawaz Sharif.

The accountability judge directed the authorities concerned to auction the former premier’s moveable and immoveable properties and deposit the money to be earned through the auction into the national exchequer.

The properties worth billions of rupees include Ittefaq Foundry, Hudaibia Paper Mills, Baksh Textile and Hudaibia Engineering. Furthermore, the assets of Sharif in Upper Mall Road area, the fish farm built on 110 acres of land, 20 acres of land in Lahore, a bungalow located in Murree, Shangla’s house, five luxurious cars registered against the name of the former prime minister will be auctioned.

The amount of three foreign and five Pakistani bank accounts will also be moved to the national kitty after the court’s approval.

The accountability court had declared Sharif a proclaimed offender in the Toshakhana reference. Despite a lapse of six months, the former premier did not surrender himself before the court.