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The mystery of Raiwind palace ownership

Published Jan 03, 2014 07:23am

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According to statements of assets and liabilities, the net worth of Nawaz Sharif’s assets was Rs261.6 million in 2012 and of Shahbaz Sharif Rs336.9m. — File photo
According to statements of assets and liabilities, the net worth of Nawaz Sharif’s assets was Rs261.6 million in 2012 and of Shahbaz Sharif Rs336.9m. — File photo

ISLAMABAD: The ownership of the Raiwind palace spread over thousands of acres is a mystery because it has never been mentioned in the statements of assets and liabilities of Prime Minister Nawaz Sharif and other members of his family in politics.

Even latest declarations submitted by Nawaz Sharif, his brother Shahbaz Sharif, son-in-law Captain Mohammad Safdar and nephew Hamza Shahbaz to the Election Commission of Pakistan are silent on the ownership title of the huge property.

But Information Minister Pervez Rasheed told Dawn that the property was in the name of Shamim Sharif, mother of the Sharif brothers.

The statements of assets show that the Sharif brothers have much in common. Both live in houses not owned by them. Nawaz Sharif lives in a house owned by his mother while Shahbaz Sharif resides in a house owned by his spouse Nusrat.

Both use Land Cruisers gifted to them by unspecified persons. Both have multiple foreign and local currency accounts, own huge agricultural land and have investments in industrial units like sugar, textile and paper mills.

The most visible dissimilarity is the rapid growth in the value of assets owned by the elder brother and continuous decline in the value of assets possessed by the younger brother. Another dissimilarity is that Shahbaz Sharif has two properties in the United Kingdom, but Nawaz Sharif has no assets abroad.

Till the time of elections in May last year, Shahbaz was richer than Nawaz — though none of them a billionaire — but things are different now. According to the recent declaration, the value of Nawaz Sharif’s wealth has registered a six-fold increase in just 12 months to make him a billionaire for the first time.

According to statements of assets and liabilities, the net worth of Nawaz Sharif’s assets was Rs261.6 million in 2012 and of Shahbaz Sharif Rs336.9m.

In 2011, the assets of the two brothers were worth Rs166m and Rs393m, indicating an increase of Rs95.6m and decrease of Rs56.5m, respectively.

In 2013, the value of assets of Nawaz Sharif ballooned to Rs1.82bn while that of Shahbaz Sharif slipped further to Rs142m.

Incidentally, Shahbaz Sharif has more stakes abroad than in the country. He owns properties and bank account worth Rs138.28m in the UK. He has three loans worth 117.10m in Pakistani rupees in British banks.

The younger brother has not disclosed the value of five properties with net area of around 676 kanal in Lahore – all gifted by his mother.

He has Rs51.96m cash in hand and Rs7.27m in his sole bank account in the country.

Mrs Nusrat, the first wife of Mr Shahbaz, had assets worth Rs273.46m on June 30 last year. It was Rs224.56m a year earlier. She has Rs14.34m cash in hand and Rs1.95m in her five bank accounts.

The assets of Mrs Tehmina, the second wife of Shahbaz Sharif, are worth Rs9.83m. They were Rs7.64m last year.

She has five bank accounts – two in Pound Sterling, one in dollar and two in Pak rupees, but the money in these accounts is only Rs23,770. She has cash in hand and prize bonds worth Rs750,000 and two cars.

Kalsoom Nawaz, the wife of Nawaz Sharif, has net wealth of Rs235.85m, which is much less than that of Mrs Nusrat Shahbaz.

Mrs Kalsoom has land and a house in Changa Gali, Abbottabad, worth Rs63.75m, a bungalow on Mall Road in Murree worth Rs100m, 88 kanal of land in Sheikhupura worth Rs70m, jewellery of Rs1.5m and shares in family businesses.

She has Rs67,555 cash in hand and Rs55,765 in banks.

Hamza Shahbaz is wealthier than his father with net assets of Rs250.46m. He has two wives. The wealth of his first wife is Rs2.45m and that of the second is Rs9.88m.

Capt Safdar’s wealth is worth Rs14.23m. He owns a car which his wife Marium received as a gift from the UAE.

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Comments (68) Closed



Anees Jan 03, 2014 08:04am

"She ( Kalsoom Nawaz ) has Rs67,555 cash in hand and Rs55,765 in banks" .... ... She is the poorest. She deserves some help.

Bhatti Jan 03, 2014 08:06am

Everyone born in Sharif family comes to this world with one billion $ except Nawaz Sharif who is so poor that he has nothing in his name. He keeps his assets overseas. He is Mr. clean.

abid Jan 03, 2014 08:08am

Sharif family is the poorest family in Pakistan?

naved Jan 03, 2014 08:09am

This just the tip of ice burg. No one knows how much he has in London, Switzerland and elsewhere.

Chaudhry Jan 03, 2014 08:21am

Today Nawaz Sharif is billionaire tomorrow he will be multi multi billionaire.

fawsd Jan 03, 2014 08:23am

Nawaz Sharifs wealth increased by 6 folds in 1 year and no one asked. So much for our independent media.

gilani Jan 03, 2014 08:23am

Captain Safdar must be very popular person, he gets gifts in millions? Poor Pakistanis.

Hassan Jan 03, 2014 08:24am

Six fold increase in 12 months, money stashed in overseas account and gifts from unknown persons.... is it just me or the whole thing seem dodgy

jamal Jan 03, 2014 08:27am

Why do you call Raiwind a palace. Its a small house on a cheap land, some one gave Nawaz Sharif as a gift. eople keep on giving him and his family gifts. What can he do. Its not his mistake.

Kashaf Jan 03, 2014 08:44am

Waah! The whole family business is running on gifts from each other to each other...waah!

Safwan Jan 03, 2014 08:51am

Sher aya sher aur jhooti financial statements dedi.

S. A. M. Jan 03, 2014 08:52am

the way they have declared their assets show what level of their honesty is. Running the country is analogus to running Ittifaq Foundary. the harder they hammer the better result they get.

naeem Jan 03, 2014 09:18am

Same old story. Sharif brothers becoming richer and richer every year and people of Pakistan becoming poorer and poorer.

Farooq Ali Jan 03, 2014 09:26am

What is new in this ?, every body knows that Sharifs are a rich business group since 3 generations and have employed thousands of people in their units. Important is to disclose and people of this country would like to know that how a govt servant drawing 20 thousand rupees per month as salary can own properties worth billions in country and abroad, and that is the cancer of this country.

Saamp Jan 03, 2014 09:48am

Rich and shameless of Pakistan.

murad khan Jan 03, 2014 10:28am

well forget the ownership, what i know is that monthly expenses of raiwand place is 40-50 lakh and that i know through a reliable source infact a close family member of sharif family. how can this be justifiable?

Khawar T khyam Jan 03, 2014 10:44am

Amazing people amazing fluctuation of fortune. Today I am rich yesterday my brother was richer. Money exchange hand pretty fast But no one pay the taxes.

mehboob malik Jan 03, 2014 10:46am

Corrupt people, corrupt leaders

Purush Jan 03, 2014 11:15am

Having asetts in name of wife is just pulling the wool over people's eyes. If both the ladies are housewifes, it would be interesting to know what legitimate work these ladies do to amass such a huge wealth.

Ahmed Jan 03, 2014 11:27am

Declarations of Sharif family must be investigated by the Election Commission. Any irregularity must be proceeded against them as per the Law. If found guilty of wrong declaration , they must be convicted and suspended from holding any public office.

KKRoberts Jan 03, 2014 12:01pm

What a Life!!.

TK Jan 03, 2014 12:56pm

@Purush: My wife couldnt even open a bank account while visiting Pakistan [we reside overseas] unless I submitted my proof of source of income-wealth etc .. ie a statement similar to a tax filing.

Tariq Jan 03, 2014 01:07pm

This is the story of my country, they are our leaders, they are the looters, they are the Muhafiz of masses. How can Pakistan change, they still remain clean, they love democracy, they cry for poor, because they can "understand" they plight of poor people. Bilawal is another example, of course our future is right like today.

Wazir Jan 03, 2014 02:44pm

Why dont anybody gift a car/land cruiser to me?Its not fair.

Fareed Jan 03, 2014 05:07pm

The mystery of Raiwind palace ownership IFTIKHAR A. KHAN and KALBE ALI : Gents, job well done. If possible, now look into the mystery of Garhi Khudabakash- Larkana-Dubai palaces. Assets of Zardaris -Bhuttos can't be far behind.

Sayeed Altaf Hussein Jan 03, 2014 06:05pm

@jamal: How many gifts have you recieved?

Sayeed Altaf Hussein Jan 03, 2014 06:08pm

What a corrupt family. While they prosper the people of Pakistan are getting poorer and poorer to the extend of starvation. Well done Sharif and Zardari.

Annie Jan 03, 2014 06:17pm

@Chaudhry: Keep making noise it might have some effect some day

Lahori Jan 03, 2014 07:41pm

Sharif family, Bhutto family and Zardari family - owns half of Pakistan. Thank you Pakistanis for giving gifts to them.

Khan Jan 03, 2014 07:58pm

I am sorry, we know all of that..... It is time to support MQM who has brought only unknow people to mainstream unlike anyone else in Pakistan in last 27 years. Supporting Mushraf and Imran is not too bad too.....

Molana Dieso Jan 03, 2014 08:39pm

@Tariq: Did you vote?

Molana Dieso Jan 03, 2014 08:40pm

@Ahmed: Sir G, It is Pakistan. This law is for the poor not for NS and Zardari. Relax.

darr Jan 03, 2014 08:49pm

@KKRoberts: Shamefull is,nt it ?

qadir Jan 03, 2014 10:23pm

Sad to be born in Pakistan and ruled by these so called democratic parties. They are corrupt and shameless. Just watch them bragging and shouting on TV shows. They don't even have the manners to wait for their turn to speak.

Tariq Mahmood Jan 03, 2014 10:45pm

@Ahmed: And ofcourse the same for the Bhutto Zardari dynasty.

GM Jan 03, 2014 11:22pm

Let them have fun in this world. They will be the biggest loser in Hereafter not because they have wealth but how they accumulated it, hoard it and spend it.

Chaudhry Jan 03, 2014 11:28pm

Why everyone keeps asking Nawaz about his wealth. He and his whole family gets gifts from time to time - even his son in law gets gifts when he visits Dubai. That is how he is so rich.

Kumar Jan 04, 2014 12:52am

Pakistan ke gharibon bhi koi gift de de.

Lahori Jan 04, 2014 12:57am

Kash hame bhi gift milti.

fatima Jan 04, 2014 03:47am

Mr Nawaz Sharif you are saying that people owe mutli million rupees of loans to the govt. and banks and that you want to give few lakhs of rupees to youngters. You are the PM of Pakistan -- Isn't it your duty to make the political leaders and other prominent people pay back the loans owed to the people of Pakistan?

nabil Jan 04, 2014 04:55am

these are truely the looted wealth of Pakistan during sharif's last term in as PM. NAB what more proof do you want?

Mohd Naseem Jan 04, 2014 05:46am

A billionaire Amir-ul-Momaneen. doesnt' it has a nice ring to it !!!

owais Jan 04, 2014 06:12am

one small textile or sugar worth around Rs. 1.5 to 2.0 billion, and the two sharif brothers own around 29 mills in total, but unfortunately, election commission's worth is few million rupees. The raiwind palace is nothing in front of industrial units.

Amjad Wyne Jan 04, 2014 06:15am

Well, if it does not belong to him then it must belong to the people of Pakistan - It is time to reclaim it as a national property.

Sajid Jan 04, 2014 07:49am

@Wazir: I like Jaguar instead. When gifted, I will give you a ride :-)

Syed Jan 04, 2014 11:58am

@Anees: You mean, CHARITY......

Shahid Tanweer Jan 04, 2014 03:22pm

Poor family - no one offered them other gifts such as speed boats or pvt planes. Is there any one - please help the family of Shareeeefs.

M. Ahmed Jan 04, 2014 06:41pm

Job well done but incomplete. Now find out how this wealth was accumulate. Have you heared of stories of whole trains disappearing in Itifaq Foundry? Please also expose Bhuttos, Chaudharies and others. You will find similar stories. They are defenders of democracy, what and a country Pakistan is poor people ruled by rich cats protecting their own wealth.

Shanzay Jan 04, 2014 08:02pm

I received a gift of candle lights on this Christmas! Poor me........!!!

Yawar Jan 04, 2014 10:58pm

This is sickening

Sarwat Jan 04, 2014 11:13pm

If the PM and the CM of Pakistan are toiling with the rules of the country, then what to expect from the general masses. Leaders are direct party to actions which lead to corruption, then they have no right to be governing offices. I have a question for the people who voted for PML-N or PPP, What benefit you personally get by voting for these guys? These guys are only good for stealing our future. Please! Please! respect yourselves, your rights, your votes. Don't throw away your future into their pockets and bank accounts.

HUMAYUN Jan 05, 2014 12:28am

IF YOU DON'T HAVE SHAME YOU CAN DO ANY THING LIVING A LUXURY LIFE AND MAKING FOOL ALL PAKISTANIS

jamal Jan 05, 2014 07:02am

Read Capitalism

abid Jan 05, 2014 07:11am

Poor Sharif family. Everything they own is gifted to them.

syed Jan 05, 2014 08:01am

.. and keeping up with the tradition, we , the Pakistanis have also gifted the whole country to them.. it's a gift galore!!!

Using women to hide your assets is nothing new, I bet our leaders picked this technique from the western societies. I am intrigued by wealth of Captain Safdar, a Captain with 14.3 Million in bank, somebody tell me how to apply for THIS job.

& do you know that you can buy a car in UAE and send it to Pakistan as a Gift to yourself?

kar lo jaisay karna hay, agay kuch nahi jana.

syed Jan 05, 2014 08:02am

while on the topic of GIFTS, does anyone have a list of gifts received by the Bhuttos'?

IBN-E-ASHFAQUE Jan 05, 2014 08:55am

Democracy has made Nawaz richer by increasing his wealth six hundred percent in a year.

rana1 Jan 05, 2014 09:56am

@naeem: including the bhuttos and zardaris

Shabbir Jan 05, 2014 10:13am

What a great journey of "success" without any conflict of interest and with real 'empathy' for poor people of this country. Wow!

bkh Jan 05, 2014 04:23pm

Properties owned by Sharif brothers and their wives could easily be verified from the Land Registry Office in Croydon, Surrey in U>K

Combaticus Jan 05, 2014 08:32pm

Being rich is not a crime, being an incompetent ruler is unforgivable !

Felis Leo Jan 05, 2014 09:54pm

All corrupt people. Is there anyone in Pakistan who is not corrupt??

jamal Jan 05, 2014 11:04pm

Don't know when the people of Pakistan will wake up and punish corrupt politicians? Looks like Imran Khan and MQM cannot do anything?

mex jonson Jan 06, 2014 02:33am

Corruption is not confined to pakistan or india for that matter Uk is also as corrupt - just check news items daily The difference is that Pak politicians only know 'take' and have never heard of ' give'

So yes be rich but also share - even if it is only 2.5% annually

Singh Jan 06, 2014 05:52am

Before blaming these shameless leaders, look in mirror and ask yourself whom you voted last time.

Ahsan Jan 06, 2014 12:49pm

Har chiez yahin reh jani ha. Bande k sath sirf us k aamal hi jane han.

iftikhar Jan 06, 2014 06:56pm

i hold the people of pakistan for electing these so called democratic people time and time again they are worse than african dictators inshallah they will answer to allah they are worse than firouns look what happend to them. the only viable thing in pakistan was the army look what they are doing to it

Rasheed Jan 06, 2014 09:20pm

The only leader who is so far corruption-free is Pervez Musharraf. Both the PPP and the PML-N governments tried their level best to dig out corruption charges, but miserably failed.