Assets Scrutiny issue

Hammad Azhar gets clean chit from ECP

By Zahid Gishkori

ISLAMABAD: Federal Minister for Energy Muhammad Hammad Azhar got a clean-chit from the country's top polls body in the assets' scrutiny issue. It took the Election Commission of Pakistan (ECP) two years to complete its scrutiny of assets of the federal minister and his family and Hammad Azhar's replies were justified.

The ECP scrutiny team accepted the minister's (Hammad] responses. The ECP, however, "would continue its check on his statement of assets and liabilities for 2020," a senior official familiar with the development told this correspondent on Monday.

This development comes days after the ECP cleared Punjab Chief Minister Usman Buzdar in an assets' scrutiny matter. The political finance wing of the ECP sought justification from Hammad Azhar on his investment in the Bank of Khyber and Meezan Bank, which maintained a mutual fund of Rs140 million.

"An amount of Rs10 million debt receivable from the HM Enterprises declared in the statement for the year 2018, which needed to be justified through supportive documents," read the notice the ECP had served on minister in May 2019.

"All immovable properties i.e. agricultural and non-agricultural property -- declared in the statement for the year 2017 are missing in declaration for the subsequent year 2018. Justification and details of the same are required," read the notice.

The decision to clear the minister of the assets scrutiny was taken in the light of recommendations given by the political finance wing of the ECP, said a senior official. "We examined all responses submitted by the minister which were justifying his position," he added. A spokesperson for the ECP has not denied this development.

In his conclusive response, Hammad Azhar told the ECP team that he witnessed an increase of Rs33.6 million in his assets. He told the ECP that he and his family witnessed an increase of Rs81.6 million in assets in the financial year of 2018-19. He further revealed that he owned assets of Rs276.2 million in 2017-18 and he showed assets of Rs309.8 million in 2018-19 while his wife Mariam Hammad owned wealth of Rs230.4 million and Rs278.4 million in 2018-19 thus witnessing an increase of Rs48 million. The federal minister and his family collectively owned assets of Rs506.7 in fiscal year 2017-18 and Rs588.3 million in 2018-19, according to Hammad's reply submitted with the ECP.

The ECP sought justification from Hammad Azhar that there was a decrease in his assets of Rs30.8 million from the previous year which is mainly due to not declaring the business capital AFCO Steel Industries cost Rs284.8 million and AFCO metal cost Rs4 million in the statement for the year 2018.

The minister told the commission that the ECP miscalculated his and his family's total assets. On a question on debt, Hammad told the ECP that his wife was a shareholder in a firm named M/s HM Enterprises Pvt. Ltd. This company took a loan of Rs10 million from his wife, he added.

In response to another query, Hammad Azhar told the ECP that he and his family purchased agri-properties five years ago, not in 2018 in fact. Property is declared in the wealth statement, he said. On a house purchase, Hammad told the ECP that his wife purchased this house in the Model Town Lahore by paying Rs35 million in 2013-2014 which was declared.

On some plots in WAPDA Town Multan, Hammad told the ECP that his wife owned these assets and dually declared in her statements. On a business capital valued Rs17 million, Hammad said his wife owned HM Enterprises Pvt Ltd which was a declared asset already.

On investment matters, the ECP was told that the minister and his family have bank investments worth Rs18 million in Meezan Bank and Bank of Khyber. He further informed the ECP that he has had an investment of Rs140 million as well.

Hammad Azhar had told the Geo News that the ECP was satisfied with his replies. He also confirmed that the ECP sent him a notice for seeking his response/explanation on this issue.

"The affidavit submitted by me at the time of submission of documents to the ECP Lahore only required separate disclosure of shares where I own majority/controlling interest in the company as per explanation (II) of the affidavit. This nominal amount of investment is included in net assets as required by the ECP Lahore. The shares of the PTCL and the Maple Leaf are properly disclosed in my FBR returns 2018 and 2019 and Form-B 2018 and 2019 submitted by me to the ECP Islamabad," said the minister.