NAB list of Dar’s properties: 17 out of 25 properties donated or sold out

ISLAMABAD: Seventeen out of a total of 25 properties of former finance minister Ishaq Dar which the National Accountability Bureau (NAB) wants to seize have either been donated or sold out by Dar.

All of these properties were declared with the Federal Bureau of Revenue (FBR) along with the details of source of income to acquire them. Dar family shared these details which were verified by The News.

1- Plot at Mauza Bhubtian, 2 Kanal 19 Marla, in spouse’s name, first declared with the FBR in the financial year ending June 30, 1988. It was donated to The Citizen Foundation (TCF) School in 2001 for construction of a school. TCF is a renowned charitable organisation.

2- House No. 159-F, Phase VI, DHA Lahore, first declared in the financial year ending June 30, 1999. The NAB mentions it as a house but it was a plot sold out in 2004.

3- Land in Mauza Milot, Islamabad, declared in 2009, was gifted to children who sold it in tax year 2016.

4- 2 Kanal plot at Parliamentarian Enclave, Islamabad, declared in FY ending June 30, 2009. It was a booking and installments totaling Rs1.7 million were paid but no plot was ever received. Booking was eventually surrendered in FY ending 30/6/2011 and paid installments were refunded by the developer.

5- 2 Kanal plot with Ayaz Builders (Pvt) Ltd. It is identified twice. It is the same asset as serial number 4 above.

6- Plot at Senate Cooperative Housing Society, Islamabad, declared in the FY ending June 30, 2009. It was also a booking. Installments totaling Rs905,700 were paid but no plot was received. The booking was eventually surrendered in FY ending June 6, 2014 and paid installments were refunded by the developer. The refunded amount was used for donation to Employees Welfare Fund of National Assembly and Senate (Rs5 lakh each)

7- Land Cruiser LZE-19 Model 2004, declared in FY ending June 30, 2011 and was sold out in FY ending June 30, 2017.

8- Land Cruiser Model 1999 LXX-9, declared in FY ending June 30, 2004 and was sold out in FY ending June 30, 2005.

9- Toyota Corolla LRS-9700 Model 2004, declared in FY ending June 30, 2009 and was sold out in FY ending 2016.

10- Mercedes Benz E-300 Model 1998 S LBW-947, declared in FY ending June 30, 2002 and was gifted to son who sold it in financial year ending 2004.

11- Shares in Hajveri Modaraba Management Company (Pvt) Ltd. Declared in FY ending June 30, 1992 and were sold/transferred in the FY ending 2001.

12- Shares in HDS Securities (Pvt.) Ltd, declared in FY ending June 30, 1999 and were sold/transferred in the FY ending June 30, 2005.

13- Shares in CNG Pakistan Ltd, declared in FY ending June 30, 2002 and were sold in FY ending June 30, 2006.

14- Shares in Gulf Insurance Company Ltd, declared in FY ending June 30, 1992 and were sold/transferred in FY ending June 30, 2001.

15- Shares in Core Chemicals (Pvt) Ltd, declared in FY ending June 30, 1992 and were sold/transferred in FY ending June 30, 1997.

16- NIT Units, declared in FY ending June 30, 2016 and were sold/redeemed in FY ending June 30, 2017.

17- Pakistan Investment Bonds (PIBs), declared in FY ending June 30, 2015 and were sold sold/redeemed in FY ending June 30, 2017.

Only following eight assets mentioned in the NAB list are still held by Ishaq Dar or his family in Pakistan.

1- House No. 7, Block H, Gulberg-III, Lahore, declared in FY ending June 30, 1988. The house is a family residence for more than 30 years and was purchased before entering into Politics. This claim of Dar family is correct.

2- Booking for 3x Plots in Alfalah Housing Society, Lahore, declared in FY ending June 30, 2009. According to the Dar family, two plots have been booked in the names of Mr. Dar and his spouse. Part-installments have been paid but as the Society has been inactive for years, neither plots have been allocated nor has balance payment been made. (Third plot was booked by son independently out of his income and the status is same as above)

3- Mercedes Benz S-350 L MV-19 2008, declared in the FY ending June 30, 2009 and is in personal use.

4- Land Cruiser AY-19 2014 Model declared in FY ending June 30, 2014 and is in personal use.

5- Shares in Hajveri Holdings (Pvt) Ltd, declared in FY ending June 30, 1990. According to the Dar family, it is a family company which has been dormant for last many years with no assets and shares therefore have any value.

6- Shares in Sui Northern Gas Pipelines Ltd, declared in FY ending June 30, 1993. According to the Dar family, these shares are worth Rs2,700.

7- Mutual Fund of Al Falah GHP. According to the Dar family, it is due to be declared in returns for June 30, 2018. Dar family adds that investment was made from the sales proceeds of NITs and PIBs held in past.

8- Term Deposit Receipts (TDRs). According the Dar family, it is due to be declared in the returns for June 30, 2018 and investment was made from the sales proceeds of NITs and PIBs held in past.