The spectre of accountability seems to be looming large on Pakistani lawmakers as the threat of being questioned, indicted and disqualified for possessing assets beyond their means of income becomes an ever-present threat to their political career.
As Imran Khan fights off charges of financial misdoing and ousted prime minister Nawaz Sharif awaits being formally charged in multiple corruption cases, Finance Minister Ishaq Dar has been indicted in a corruption reference filed by the National Accountability Bureau on the accusation that he possesses assets beyond his known sources of income.
With the investigation into the finance minister’s assets underway, Dawn.com looks at the Election Commission of Pakistan (ECP) forms and annexes submitted by Dar to declare his wealth as on June 30, 2016.
As per the accounts submitted and subsequently published in The Gazette of Pakistan on February 9 2017, the sum total of Dar’s declared assets amounts to nearly Rs600 million (Rs583,462,230).
A house in Gulberg, Lahore is Dar’s only listing in the “immovable property” section. Purchased in 1988 for over Rs2.5 million (Rs2,505,808), its present value is Rs45 million.
Dar also holds just over Rs1 million worth of stocks in his company, Hajveri Holdings (PVT) LTD, the initial cost of which was just under Rs3 million. Larger investments include Rs124.3 million parked in the National Investment Unit Trust and Rs325.7 million in Pakistan Investment Bonds (PIBs).
Investments, bonds and certificates aside, the finance minister lists three vehicles in the “movable property” section:
- A 2004 Land Cruiser worth Rs4 million
- A 2008 Mercedes (S-350L) worth Rs8 million
- A 2014 Land Cruiser worth Rs15 million
Dar lists his wife’s jewelry valued at Rs1.5 million, and his own collection of wrist watches valued at Rs278,000.
In other assets, the PML-N stalwart has arms worth Rs23,825; over Rs27 million (Rs27,171,197) in cash in hand and prize bonds, and over Rs25 million in the bank.
The images below are copies of the form submitted to the Election Commission of Pakistan (ECP) by current Finance Minister Ishaq Dar on June 30, 2016. The details of declared assets of all parliamentarians, members of provincial assemblies as well as senators are available as a hard copy with Dawn.com.