ISLAMABAD: An accountability court on Friday accepted a petition filed by the National Accountability Bureau (NAB) Rawalpindi for the auction of assets owned by former prime minister Nawaz Sharif.
NAB’s decision to auction the Pakistan Muslim League Nawaz (PML-N) Quaid’s assets comes after he was declared a proclaimed offender in the Tosha Khana reference. After the court’s approval, authorities will be able to auction Sharif’s properties wherever they are located.
Accountability court judge Syed Asghar Ali ordered the Deputy Commissioner Lahore and Sheikhupura to submit a report on the matter within 60 days. The properties should be auctioned and the money should be deposited in the national treasury, the court said.
Sharif’s vehicles should also be auctioned within 30 days, the court further ordered. The vehicles will be seized and sold with the help of the police, the court said. The court also ordered the seizure of any funds in Sharif’s bank accounts and their deposit in the public exchequer.
However, the accountability court said only those properties on which the Sharif family had not raised objections could be auctioned. Maryam Nawaz had objected to the confiscation of the Murree and Changa Gali residences.
The Securities and Exchange Commission of Pakistan chairman was directed to sell shares owned by Sharif in four companies. Proceeds from the sale should be deposited in the national treasury, the court said.
He also has eight accounts in private banks including three foreign currency accounts. Sharif also has nine properties to his name in Lahore, Sheikhupura, Murree and Abbottabad.