close
Sunday June 16, 2024

Farah’s declared wealth up by four times during Imran’s rule

Farah Khan bought some luxurious properties in Lahore and Islamabad, including a villa in a posh sector of the federal capital

By Fakhar Durrani
April 07, 2022

ISLAMABAD: The wealth of Farhat Shahzadi — a close friend of former first lady Bushra Bibi — grew exponentially within the first three years since Prime Minister Imran Khan formed his government. The total declared assets of Farhat Shahzadi grew four times from Rs231 million in 2017 to Rs971 million in 2021. Her filing in 2018 was nil.

Also known as Farah Gujjar or Farah Khan, Farhat Shahzadi is the closest friend of former first lady of Pakistan Bushra Bibi. The brief ceremony of the marriage of Prime Minister Imran Khan with Bushra Bibi also took place at Farah’s residence.

The opposition leaders, including Aleem Khan, former close aide of Prime Minister Imran Khan, have levelled serious allegationsof corruption on Farah Khan who, according to them, minted millions of rupees in every transfer and posting in Punjab province during the PTI–led government.

The News investigations reveal that Farah Khan’s fortune increased ever since the Prime Minister appointed Usman Buzdar as Chief Minister of Punjab province. Her declared assets before Imran Khan came into power were reported to be worth Rs231,635,297 (Rs231 million) in 2017. However, within the first three years of Imran Khan’s government Farah bought several properties in different cities and made investments worth hundreds of millions of rupees in different business sectors.

Farah Khan, as per the documents, also availed whitening of black money scheme (Tax Amnesty Scheme) in 2019 during Imran Khan’s government and declared assets worth Rs328 million under the Tax Amnesty Scheme 2019.

The documents further show that Farah Khan bought some luxurious properties in Lahore and Islamabad, including a villa in a posh sector of Islamabad. As per the documents, Farah Khan declared a 933 square yards house in Islamabad’s Sector F-7/2, which she bought for Rs195 million.

Farah’s filing for the tax year 2018 shows nothing. However, within a year after Imran Khan appointed Usman Buzdar as Chief Minister of Punjab, Farah Khan’s assets grew two times in the tax year 2019 (July 2018- June 2019).

The total assets of Farah Khan reached Rs699,137,839 inside Pakistan, Rs15,749, 479 outside Pakistan in the form of a flat in the UAE. Hence the total assets inside and outside Pakistan were recorded at Rs714,887,318. The net assets were reported as Rs697,502,318.

Similarly, for the tax year 2020 (July 2019-June 2020), the total assets of Farah Khan were recorded at Rs740,300,166 (Rs740 million), including Rs724,550,687 (Rs724 million) inside Pakistan and a flat in the UAE worth Rs15,749,479 (Rs15 million) outside Pakistan. The net assets for the tax year were reported as Rs707,001,827 (Rs707 million).

The documents further show that the total assets of Farah Khan in tax year 2021 (July 2020-June 2021) were recorded at Rs971,869,187 (Rs971 million), including Rs956,119,708 (Rs956 million) inside Pakistan and a flat in the UAE worth Rs15,749,479 (Rs15 million) outside Pakistan. The net assets for the tax year were reported as Rs752,370,848 (Rs752 million).

Below are the details of Farah Khan’s assets including properties and investments inside and outside Pakistan from the tax year 2017 to 2021.

List of Farah Khan’s properties in tax year 2017

Net assets Rs231,635,297

Commercial, industrial, residential property (Non business) worth Rs145,453,979; Commercial, industrial, residential property (Non business) 422 AA DHA Phase 4 Lahore worth Rs24,000,000; Commercial, industrial, residential property (Non business) flat UAE Rs10,449,479; Commercial, industrial, residential property (Non business) House No99-Y DHA Lahore worth Rs67,475,870; Commercial, industrial, residential property (Non business) Plot No 63-Z, Block Z, Lahore (investment made by husband) Lahore Gulberg Town worth Rs43,528,630; Business capital worth Rs60,706,348; Business capital Ghosia builders & developers worth Rs28,889,348; Business capital in GBPL (gift by husband) worth Rs29,827,000; The total assets inside Pakistan along with other investments including the above properties were recorded Rs231,635,297. She also showed Rs4,190,400 foreign remittances and received Rs61,428,630 gifts during the tax year 2017. The list includes some other assets and investments in different business ventures.

List of Farah Khan’s assets in tax year 2018

She did not file the returns for the tax year 2018.

List of Farah Khan’s assets in tax year 2019: Commercial, industrial, residential property (Non business) Rs147,004,500; Commercial, industrial, residential property (Non business) 422 AA DHA Phase 4 Lahore worth Rs24,000,000; Commercial, industrial, residential property (Non business) House No. 99-Y DHA Lahore worth Rs67,475,870; Commercial, industrial, residential property (Non business) Plot No 63-Z, DHA Lahore worth Rs43,528,630; Commercial, industrial, residential property (Non business) Shop #19, Block SunFlower Sector BN Bahria Town Nasheman Lahore worth Rs12,000,000; Business capital worth Rs116,697,493; Business capital in GBPL (gift by husband) worth Rs29,827,000; Business capital- Capital in Burraq Enterprises worth Rs30,000,000; Business capital- Capital Ghosia builders & developers worth Rs49,338,393; Investment (Non-business) (Account/ Annuity/ Bond/ Certificate/ Debentures/ Deposit/ Fund/ Instrument/ Policy/ Shares/ Stock/ Unit etc) worth Rs392,276,079; Investment (Non-business) (Account/ Annuity/ Bond/ Certificate/ Debentures/ Deposit/ Fund/ Instrument/ Policy/ Shares/ Stock/ Unit etc) – Agriculture products as on 30-06-2019 (Amnesty 2019) worth Rs328,785,000. The list includes many other assets and investments in different business ventures.

List of Farah Khan’s assets in tax year 2020: Commercial, industrial, residential property (Non business) worth Rs551,094,500; Commercial, industrial, residential property (Non business) House No. 99-Y DHA Lahore worth Rs67,475,870; Commercial, industrial, residential property (Non business) 422 AA DHA Phase 4 Lahore worth Rs24,000,000; Commercial, industrial, residential property (Non business) 63 Z DHA Lahore worth Rs43,528,630; Commercial, industrial, residential property (Non business) Shop #19, Block Sun Flower, Sector BN, Bahria Town, Nasheman, Lahore worth Rs12,000,000; Commercial, industrial, residential property (Non business) House 620 A, 10 Marla DHA Phase 5, Lahore. Worth Rs26,500,000; Commercial, industrial, residential property (Non business) DHA Lahore MB-269 Plaza, Phase 6, worth Rs94,594,000; Commercial, industrial, residential property (Non business) DHA Lahore- Plot F-0009 & F-0010 Phase #5 worth Rs197,996,000; Commercial, industrial, residential property (Non business) Bahria Town- Islamabad worth Rs25,000,000; Commercial, industrial, residential property (Non business) Bahria Town worth Rs60,000,000; Business capital worth Rs79,829,172; Business capital in Burraq Enterprises worth Rs30,000,000. The list includes many other assets and investments in different business ventures.

List of Farah Khan’s assets in tax year 2021: Commercial, industrial, residential property (Non business) worth Rs. 746,094500; Commercial, industrial, residential property (Non business) House No. 99-Y DHA Lahore worth Rs67,475,870; Commercial, industrial, residential property (Non business) 422 AA DHA Phase 4 Lahore worth Rs24,000,000; Commercial, industrial, residential property (Non business) 63 Z DHA Lahore worth Rs43,528,630; Commercial, industrial, residential property (Non business) Shop #19, Block, Sun Flower, Sector BN, Bahria Town, Nasheman, Lahore worth 12,000,000; Commercial, industrial, residential property (Non business) House 620 A 10 Marla DHA Phase 5, Lahore. Worth Rs26,500,000; Commercial, industrial, residential property (Non business) DHA Lahore MB-269 Plaza, Phase 6 worth Rs94,594,000; Commercial, industrial, residential property (Non business) DHA Lahore- Plot F-0009 & F-0010 Phase #5 worth Rs197,996,000; Commercial, industrial, residential property (Non business) Bahria Town worth Rs60,000,000; Commercial, industrial, residential property (Non business) House No. 3, Street No14, Sector F-7/2, 933.39 Sq Yards, Islamabad, worth Rs195,000,000; Commercial, industrial, residential property (Non business) Bahria Town- Islamabad, Chakri Land–B/F (200 k) worth Rs25,000,000; Business capital worth Rs62,464,858; Business capital in Burraq Enterprises worth Rs30,000,000. The list includes many other assets and details of her investments in different business ventures.

The News tried to contact Farhat Shahzadi but her contact numbers were out of reach. This scribe also tried to contact her husband Ahsan Iqbal Jamil and sent him messages on his WhatsApp number but he too was out of reach. However, a source close to the family claimed that the corruption charges being reported were untrue and all the wealth was earned by honest means.