ISLAMABAD: The value of assets of Punjab Chief Minister Shahbaz Sharif abroad is more than what he owns in the country.
According to the statement of assets and liabilities submitted by him to the Election Commission, the total value of his two properties in London is over Rs153 million. On the other hand, he has assets worth Rs108.24m in the country – a 553-kanal agricultural plot (Rs3.6m), two properties in Murree (Rs16.60m), investments in the industrial sector (Rs720,000), a gifted Land Cruiser (Rs20.82m) and cash and bank balance (Rs66.59m).
The total value of his assets in the United Kingdom and Pakistan stands at Rs262.29m, but he has a liability of Rs130.22m and, therefore, his net wealth amounts to Rs132.06m.
Interestingly, his first wife Nusrat Shahbaz is wealthier than him. She has net wealth of Rs276.03m — three houses (Rs186.58m) and over 810 kanals of agricultural land (Rs51.53m).
Nawaz doesn’t own any asset abroad
Nusrat Shahbaz’s investments in spinning mills, a trading company, textile mills, poultry farms, sugar mills, dairy farms, an energy company and plastic industry stand at Rs8.78m.
Her household furniture, jewellery and a car are valued at Rs3.41m. She has given Rs4.75m as loan to five women and a man. Her bank balance stands at Rs20.96m.
The second wife of the Punjab chief minister, Tehmina Durrani, has assets worth Rs9.23m, but the only aspect in which she surpasses Nusrat Shahbaz is that she owns two cars. Tehmina has only Rs24,380 in cash and bank balance, but her liabilities total Rs600,000.
The total wealth of Shahbaz Sharif and his two wives stands at Rs417.32m.
On the other hand, Prime Minister Nawaz Sharif has no asset abroad, but receives huge sums from his son Hussain Nawaz who lives in the UK.
Mr Sharif’s assets have witnessed a steady growth after he assumed the office of prime minister and the total worth of his assets has increased 12-fold in just four years.
Starting with just over Rs166m in 2011 and growing to Rs261m in 2012, he suddenly became a billionaire in 2013 and the declared value of his assets in 2014 reached Rs2.36 billion. He owns no house and lives in a house owned by his mother.
He has a Land Cruiser gifted to him by an unspecified person.
Published in Dawn, January 29th, 2015