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How did Musharraf become a billionaire?

By Ansar Abbasi
- January 08, 2012 - Updated 169 PKT - From Web Edition

ISLAMABAD: In a successful but dubious journey from rags to riches, the former dictator and now the self pro claimed messiah of the people of Pakistan, General (retd) Pervez Musharraf, has become a billionaire.


There is no indication as to who funds him and how he became fabulously rich but the retired general has accumulated billions in offshore accounts besides the property that he has already purchased in foreign lands or inside Pakistan.


Musharraf, who intends to return to Pakistan by the end of this month after seeking the required guarantees from Washington and Riyadh, has a lot of money to spend for his political campaign and his launching as “the best option for Pakistan”.


A source, having a close association with the former dictator, confided to The News that Musharraf has at least seven to ten offshore accounts in Dubai and London containing huge cash in dollars, sterling pounds and dirhams.


In his memoirs - In the Line of Fire - Musharraf admitted that he had come from a really humble background where they did not have enough money but now he pays at least half a million rupees as monthly salary to his personal staff residing inside Pakistan.


According to the source, besides having foreign bank accounts, Musharraf has also made huge saving investments abroad to earn large profits. The source said that in just one Dubai based online trading service — MMA — Musharraf had US$ 1,600,000 (Rs 145 million) last year. Musharraf’s account number, according to the source in this company, is AV77777.


In the Union National Bank, which is an investment bank in Abu Dhabi, Musharraf and his spouse Sehba Musharraf, have a joint account No 4002000304, in which the amount mid last year was almost UAE Dirhams 17,000,000 ( Rs 391 million).


In the same bank- the Union National Bank- the same duo, Mr and Mrs Musharaf have another joint account No 400200315, which is a dollar account. This particular account last year contained US$ 535,325 (Rs 48 million).


In yet another UAE Dirham account in the same financial institution — the Union National Bank — Sehba and Musharraf had almost UAE Dirhams 7,600,000 (Rs 174 million) last year. The account No is 4003006700.


In the fourth account, No 4003006711, in the Union National Bank, the duo had UAE Dirhams 8,000,000 (Rs 184 million).


In the fifth account, No 4003006722 in the same bank — the Union National Bank — Musharraf and his wife had US$ 8,000,000 (Rs 728 million).


In the sixth account, No 4003006733, Mrs Sehba Musharraf and Mr Pervez Musharraf had UAE Dirhams 8,000,000 (Rs 184 million) last year.


In the seventh account, No 4003006744, in the same Union National Bank, the duo holds UAE Dirhams 8,000,000 (Rs 184 million).


In their eighth account in the same bank — the Union National Bank Abu Dhabi — the duo had US$ 1,300,000 (Rs 118 million).


During the initial few months of his taking over as a military dictator following his coup against the Nawaz Sharif government, General Musharraf did make his wealth public, which hardly contained any cash but only some plots in different parts of the country. Musharraf claimed to be the Mr Clean of Pakistan.


How did he become a billionare is a million dollar question. The same question when asked to Musharraf’s spokesperson and his party’s information secretary Fawad Chaudhry Advocate told The News that all the accounts of Pervez Musharraf, whether abroad or in Pakistan, are declared accounts.


“There is not a single hidden bank account like Nawaz Sharif and Asif Ali Zardari”, he added.


Fawad Chaudhry said that when an Army Chief retires, he gets pensionary benefits worth Rs 400 to 500 million.


Moreover, he added that Bill Clinton and Pervez Musharraf are the highest paid speakers in the world, therefore he earns a handsome amount through lectures.


He clarified that Musharraf’s bank accounts do not have billions of rupees in them.

Reader Comments
Corruption upon corruption. Without Almighty Allah's help Pakistan would be totally failed country. This corruption is not letting Pakistan prosper. Pakistans economy isnt doing well as it should. No leaders have been successful so far in improving the basics such as Electricity, Education and Infrastructure.

United Kingdom
No. Musharaf may be million other things but he isn't a thief! Don't spread lies.

zafar Iqbal
United Kingdom
This biased writer also did not mention the $2 million advance the general got for his autobiography!

Tariq Rashid
United Kingdom
Musharraf is allegedly paid millions for his foreign lectures? Why? Is he an alien Martian? Or is he a prophetic speaker with divine backing? What has he done for or against his own country to deserve this bribe, except organize terrorism for foreigners here who killed thousands of our innocent citizens

Musharraf is not a incapable person. During his lecture series he earned on average 100 thousand US dollars for 80 minute lectures. This writer is a biased gernalist. And many lanaat on writtig this kind of article.

United Kingdom
how these details did not become part of dg rangers list of plunder? Husain naqi

husain naqi
Khalli Walli

If the retired General is a true Pakistani he should invest his savings in power and other projects in Pakistan. Let him be the pioneer and others will follow him

S. Nasir Mehdi
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