Fawad owns assets more than one billion rupees, court told

LAHORE: Fawad Hassan Fawad, former principal secretary of former premier Nawaz Sharif, owns assets worth more than one billion rupees, it is revealed in an accountability court.

The details of assets of the top bureaucrat were revealed here in an accountability court where the National Accountability Bureau (NAB) has filed another reference against Fawad over the charges of possessing assets beyond known source of income. In the second reference, the NAB has claimed that Fawad Hassan Fawad owns assets worth Rs 1.9 billion with no declared sources of income.

The NAB in reference informed the court that Fawad Hassan Fawad owns a commercial plot measuring five-kanal in Sadr area of Rawalpindi which is approximate value is Rs 500 million.

The National Accountability Bureau further stated that it has been establish through investigations that Fawad is a share holder in a 15-storey commercial plaza located in Sadr area Rawalpindi. The value of the said commercial plaza is Rs 3850 million, the NAB added.

The NAB stated that during the inquiry proceedings, all known sources of income of the accused have been probed which include salaries, business income, etc amounting to Rs 25.48 million (approx) till 2018 while, NAB Lahore has filed a reference alleging Rs 1089 million which is still unaccounted by the accused.

The NAB had arrested him in July 2018 in the Ashiana Iqbal Housing case. Later, investigations against Fawad Hassan Fawad in assets beyond means case were started on October 12, 2018 after an approval from the regional board meeting. On February 18, an accountability court had indicted Chairman Public Accounts Committee and PML-N President Shahbaz Sharif, Fawad Hassan Fawad, Nadeem Zia, Kamran Kiyani brother of the former Army Chief Ashfaque Parvez Kiyani, Munir Zia, Khalid Hussain, Ali Sajid, Shahid Chaudhry, Ahad Khan Cheema, Bilal Kidwai, Shahid Shafique, Shahd Shafique, Imtiaz Haider, Israr Saeed and Arif Butt in Ashiana case.

The chairman National Accountability Bureau had approved filing a second reference against Fawad in assets beyond known source of income on March 15 which was filed before an accountability court here on Monday.