NAB decides to start legal process to auction Nawaz’ assets

ISLAMABAD: The National Accountability Bureau has decided to start the legal process to auction the assets of former prime minister Nawaz Sharif with filing an application with the Accountability Court Islamabad to sell the attached properties of Nawaz Sharif

The NAB took the decision as Nawaz Sharif was declared proclaimed offender in the Toshakhana reference. The accountability court in its order of 1-1-2020 had ordered the attachment of the properties of Nawaz Sharif. However, Nawaz Sharif did not surrender to the court even six months after the order of attachment of properties. The NAB stated that Nawaz Sharif being a proclaimed offender has willfully not surrendered to the court, therefore, the attached properties against which no objections/claims have been preferred are required to be sold out as per prescribed procedure.

According to a NAB report, Nawaz Sharif has shares in four companies 467,950 shares in Mohammad Bukhsh Textile Mills, 343,425 shares in Hudabiya Paper Mills Ltd, 22,213 shares in Hudabiya Engineering Co (Pvt) Ltd and 48,806 shares in Ittefaq Textile Mills Ltd. Nawaz Shari has eight accounts in private banks including three foreign currency accounts while he had over 600,000 rupees in five accounts and 566 euros, 698 dollars and 498 GBP in foreign currency accounts.

According to the NAB report, there are 9 properties in Lahore, Sheikhupura, Murree and Abbottabad in the name of Nawaz Sharif and his family members dependant on him that include 135 Upper Mall Lahore, 936 Kanal 10 Marla and 85 feet agricultural land in Mauza Manak Lahore, 12 Acres (Guava Orchid), 299 Kanal 12 Marla agricultural land in Mauza Baokisani, 103 Kanal 6 Marla agricultural land in Mauza Mall, Raiwind, 312 Kanal 14 Marla agricultural land in Mauza Sultankay, Lahore, 14 Kanal 5 Marla agricultural land in Mauza Manddiali, Ferozabad, 65 Kanal 4 Marla agricultural land in Mauza Ferozwattan, Sheikhpura, Bungalow 24-A & B and B-3, Hall Road, Murree, and a house measuring 15 Kanal and 15 Marlas in Changla Gali, Abbottabad. Nawaz Sharif possesses a Toyota Land Cruiser Model 2010 (LEB 10-1957), a Mercedes Model 1973 (LHD-280), a Mercedes Benz Model 1991 (IDH-78), a tractor Model 2011 (LES 11-778) and a tractor Model 2015 (LES-15-6024).