PM’s Assets Revealed In the Wake Panama Papers Scandal
Friday, April 29th, 2016 5:01:19 by modousarr
The Election Commission of Pakistan revealed findings that Prime Minister Nawaz Shariff has no assets abroad but still receives large amounts of money from his son Hussain Nawaz, who resides in the UK, on Thursday.
The findings come in the wake of the Panama papers controversy, which exposed secret bank accounts of politicians worldwide in offshore companies. According to the findings, the prime minister is worth Rs2 billion and has made half of that in the last 4 years.
The PM’s assets are reported to be Rs166 million in 2011 and rose to Rs261.6 in 2012. He was confirmed a billionaire in 2013 with assets of 1.8 billion. In 2012, his declared assets reached Rs2billion.
The report stated that he received Rs215 million in remittances from his son in 2015.
He declared ownership of a Toyota land cruiser as a gift from an unnamed source and two Mercedes vehicles. He also declared ownership of large tracts of land, investments in sugar, paper mill s and textile companies. He also declared multiple foreign and local currency bank accounts.
PM Sharif’s wife Kulsoom Nawaz, declared ownership of land and house in Changa Gali Abbottabd worth Rs80 million, a bungalow worth Rs 100 million and other paper equity.
The PM’s daughter declared ownership of a 2006 BMW gifted to her by an unspecified individual in the UAE. There is no mention of the PM, his wife or his daughter owning foreign bank accounts.
Short URL: https://www.newspakistan.pk/?p=52757
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