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June 14, 2018

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Bilawal’s billions — all inherited or gifted

ISLAMABAD: Bilawal Zardari Bhutto has declared before the Election Commission of Pakistan (ECP) his assets worth billions of rupees.

According to details shared by PPP’s Chairperson in his nomination papers for the upcoming elections, he owns almost two dozens of properties, both inside Pakistan and outside, besides having 23 of his immoveable assets including shares investment and bank accounts in Dubai and UK.

Bilawal has declared the “cost of assets”. For example he showed the cost of Bilawal House, Clinfton Karachi only Rs 3 million. Similarly he declared his shares worth only Rs 900,000 in Park Lane Estates, which owns billions of rupees worth 2460 kanals of land in Sangjiani Islamabad.

 Most of the properties declared by Bilawal are shown as gifted by parents or grandfather.

His properties held within Pakistan and their cost as declared by Bilawal include 1) Bilawal House, D-30, Block Clinfton Karachi (gifted/construction) having cost Rs 3 million; 2) D-33 (1027 sqyds), Scheme #05 Clifton Karachi 1/3rd share- Rs 2.2m; 3) House in Peshawar, 1/3rd share (self owned)- Rs 6.2m; 4) Bunglow No 158C, Model Town Lahore, 1/3rd share (self owned)- Rs 4.8m; 5) House No 1, Street 85, G-6/4 Islamabad, 1200 sqyds, 1/3rd share- gift received; 6) Apartment G-7/1 Islamabad (gift received)- Rs 1.2m; 7) M-05 Mazzanine Floor G-7/1 Islamabad (gift received)- Rs 1.4m; 8) Basement 502 Sqyds G-7/1 Islamabad (gift received)- Rs 5.2m; 9) Apartment G-7/1, Islamabad (gifted)- Rs 1.4m; 10) 90 Clifton Karachi (1/3rd share of 50%)- inheritance interest; 11) Agriculture land Preetamabad, Sannghar Sindh (gifted by grandfather)- Rs 680,000; 12) 181 Acres of agriculture land at Deh Bhutta, Larkana Rato Dero (gifted/inherited by mother/purchase)- Rs 2.1m; 13) 33 Acres Agricultural Land at Deh Salar, Taluka Rato Dero, Larkana, gifted by mother- Rs 1.1m; 14) 0.37 Guntas agriculture land at Deh Bhando, Rato Dero, Shikarpur Road- Rs 10,744; 15) 13.2 Acres inherited land at Deh Panju-Abro Rato Dero; 16) 3.1 Acres inherited land at Deh Neudero, Larkana; 17) 2.2 Acres at Deh Larkana- inherited by mother; 18) 15% share in 240 Acres agriculture land in in Jhando Mari, Tando Allah Yar- Rs 525,750; 19) 12 Acres agriculture land in Deh Jarhiyon Taluka Chamber- Rs 1m; and (20) 17.10 Acres land at Deh 23 Dad Nawabshah- Rs 447,388.

Bilawal showed two immoveable properties held outside Pakistan but did not show their value. He declared 1) 33% share (gifted) in Villa No 11, Jumeirah, Dubai- value not declared; and 2) 37.5% share in Villa No 34, Al Safa 2, Dubai- value not declared.

Bilawal showed investments in two campanies- a) Rs 21000 worth shares in Zardari Group (Pvt) Ltd Karachi (gifted by grandfather); and b) Rs 900,000 shares in Park Lane Estates (Pvt) Ltd Karachi (gifted by father). Details about what these companies own have not been shared. In a story done by The News several years back, the Park Lane Estates was shown owning 2460 Kanal land in Shangjiani, Islamabad, which in 1990s was alleged (in a NAB case) to be owned by a front man of Asif Ali Zardari.

As per Bilawal declarations he does not own any car but have defence saving certificates worth Rs 1.2m.

Bilawal declared Rs 49m cash, and Rs 9.8m, Rs 3.9m, Rs 102,566, Rs 1000 and Rs 33,334 in five different bank accounts within Pakistan.

Held outside Pakistan, Bilawal declared 23 moveable assets, which include 1) Rs 777.7m worth Loan to Temp Global Growth limited (inherited/out of inherited money, Dubai; 2) Rs 125m worth loan to Radiant Investment Services (inherited/out of inherited money), Dubai; 3) Rs 68m worth loan to Royale Properties International Limited (inherited/out of inherite money), Dubai; 4) Rs 61m worth despite in Union National Bank, SZR Dubai Brnach (out of inherited money); 5) Rs 30.6m worth deposit in Union National Bank, SZR, Dubai; 6) Rs 47m worth loan to Voctory Enterprises Limited UK; 7) Rs 2.8m worth investment in insurance policy in Dubai (out of inherited money); 8) Rs 9m investment in Insurance Policy in Dubai (Out of inherited money); 9) Rs 6.6m worth term deposit in Standard Chartered Bank Dubai; 10) 6m worth term deposit in Standard Chartered Bank Dubai; 11) Rs 0.5m worth saving account in Union National Bank Dubai (out of inherited money); 12) Rs 2m in saving account in Union National Bank Dubai (out of inherited money); 13) Rs 6m in saving account in Standard Chartered Bank Dubai (out of inherited money); 14) Rs 13m cash in Dubai (inherited); 15) Rs 1.6m worth shares in Tempo Global Limited, Dubai; 16) Rs 1.4m shares in Radiant Investment Services Limited, Dubai; 17) Rs 526 shares in Victory Enterprises Limited UK (out of inherited money); 18) Rs 1.4m worth shares in Tempo Global Gains, Dubai (inherited); 19) Rs 1.3m shares in Radiant Investment Services Dubai (gifted by mother); 20) Rs 87,514 worth shares in Tempro Global, Dubai (gifted by mother); 21) Rs 87,514 worth shares in Royale Properties International Limited Dubai (gifted by mother); 22) Rs 273m worth loan to Tempo Global Gains, Dubai (out of inherited money); and 23) In Dubai 10 sets of Jewellery and ornaments, 9 shirt fufflinks, seven watches, laptop etc.

Within Pakistan Bilawal declared Rs 2.5m as the total value of furniture, fittings, and articles of personal use besides Rs 3m worth arms and ammunition, Rs 0.5m worth laptop and cell phones, Rs 1.7m receivable and Rs 275,000 worth agriculture equipment.

Bilawal claim to have assets worth Rs 1.5 billion.

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