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April 22, 2016

Assets of Khursheed Shah almost doubled in one year

Top Story

April 22, 2016

Assets of Ch Nisar, Asad Umar also increase

ISLAMABAD: Net wealth of Leader of the Opposition in National Assembly Khursheed Shah has increased by almost 100 percent this year as per his statement submitted with the Election Commission of Pakistan (ECP).

According to documents submitted with the ECP, Minister for Interior Chaudhry Nisar and Pakistan Tehreek-e-Insaf (PTI) parliamentarian Asad Umar also witnessed rise in their assets value while the Minister of State for Water and Power Abid Sher Ali mentioned a slight decrease in his net value.

According to documents submitted by Khursheed Shah, the current worth of his total assets is Rs42.65 million while last year the value of his movable and immovable assets was Rs21.85 million. Khursheed Shah mentioned that he purchased seven acres land in Sukkur and livestock worth Rs4 million during the last fiscal year.

Another opposition MP Asad Umar also saw marked increase in his assets. His total worth was Rs680 million last year which has increased to Rs878 million this year. Umar has invested heavily in the stock market according to the document.

As per the statement of Chaudhry Nisar, he holds Rs22.89 million in various bank accounts, while last year he had Rs9 million in these accounts. His all other assets including his house at Faizabad, farm house at Chakri and nine residential flats in Dhamial Road are shown as ancestral. However, Abid Sher Ali has mentioned a decrease in his net worth this year. 

This year, the Election Commission has not uploaded the statement of assets on its website but the document was shared with journalists on payment of Rs1,000 per copy. The ECP has already removed the asset details for the years 2013 and 2014.

Under the Representation of People Act 1976 Section 42(A) and Senate Election Act 25 (A), it is mandatory for parliamentarians to declare their assets, their spouses and their dependants. The statement of assets has to be submitted with the ECP by September 13 each year.

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