Shehbaz family’s concealed assets revealed

NAB documents show Opposition Leader in NA and family have Rs7 billion belongings undeclared

By: News Desk      Published: 12:29 AM, 24 Sep, 2020
Shehbaz family’s concealed assets revealed
A file photo of Opposition Leader in National Assembly Shehbaz Sharif and Opposition Leader in Punjab Assembly Hamza Shehbaz.

The details of assets beyond means owned by Opposition Leader in National Assembly Shehbaz Sharif and his family have been released. 

According to the National Accountability Bureau (NAB), the hidden assets of Opposition Leader in National Assembly Shehbaz Sharif and his family value Rs7 billion while Rs269million belongings were shown.

The Shehbaz family has dozens of secret bank accounts, three fake firms and shares, the bureau pointed out adding that two fake firms worth Rs1,884,817,000 and another company, Nisar Trading, values  Rs515,271,000.

The bureau claimed that traces of Rs271,339,000 bank accounts and shares of Rs1,206,000,000 held by the Shehbaz family were found while assets worth Rs3,181,355,000 have also been unearthed.

Sources said a special squad will arrest Shehbaz as soon as the court cancels his bail and anti-riots force has been put on alert to deal with the possibility of agitation by his supporters.

The Shehbaz family is accused of money laundering, corruption, and kickbacks.  According to PM aide Shehzad Akbar, Shehbaz was involved in corruption worth billions of rupees, claiming his assets had grown by 70 per cent during the last 10 years.

A report citing sources said that an FIA team traced secret bank accounts of the staff of Shehbaz’s son Salman with Rs9.5 billion deposits. 

A foreign media report alleged former Punjab chief minister and his family embezzled money from aid given by Britain’s Department for International Development (DFID) and laundering it in the United Kingdom. In the report, the paper claimed that the DFID poured more than £500 million of UK taxpayers’ money into Punjab in the form of aid during Shehbaz’s tenure as chief minister.