Pakistan PM Nawaz Sharif retains billionaire status

Pakistan Prime Minister Nawaz Sharif appeared at Islamabad’s Judicial Academy before a Joint Investigation Team which is probing the Panamagate graft case on Thursday.

By: Express Web Desk | New Delhi | Published:June 16, 2017 1:56 pm
nawaz sharif, nawaz sharif billionaire, nawaz sharif assets, nawaz sharif worth, nawaz sharif money, panama papers, panama investigation, pakistan pm, pakistan news In 2011, the assets owned by Sharif and his wife Kulsoom Nawaz were worth Rs 166 million (File Photo)

Even as he is under investigation for the Panama Papers, Pakistan Prime Minister Nawaz Sharif retained the status of a billionaire that he attained just when he had assumed office in 2013, according to a report in the Pakistani newspaper The Tribune. Quoting a report released by the Election Commission of Pakistan (ECP) on details of statements of accounts and liabilities of lawmakers for the previous year, the Tribune report said the worth of his declared assets stood at Rs 1.84 billion in 2016.

Sharif continues to also receive money from his son, Hussain Nawaz, even though both are under the Panama investigation being carried out by the Joint Investigation Team (JIT), the report said. Hussain sent his father Rs 197.5 million in 2012-13, Rs239 million in 2013-14, Rs 215 million in 2014-15, and Rs 233.3 million in 2015-16.

In 2011, the assets owned by Sharif and his wife Kulsoom Nawaz were worth Rs 166 million. This increased to Rs 1.82 billion by 2013, which is when he assumed office. Since then, they have come closer to Rs 2 billion, making him a declared billionaire. Nawaz currently is one of the richest members of the National Assembly of Pakistan. The Prime Minister has declared that he does not own any property abroad.

Sharif is not the only billionaire in the assembly. According to the Tribune report, Pakistan Tehreek-e-Insaf (PIT) chief, cricketer-turned-politician Imran Khan is also among billionaires with declared assets worth Rs 1.4 billion. The only vehicle registered in his name was sold last year.

Khan also declared that he had invested Rs 40 million in various schemes along with his personal expenditures during the past year that amounted to Rs 40.9 million.

Pakistan Prime Minister Nawaz Sharif appeared at Islamabad’s Judicial Academy before a Joint Investigation Team which is probing the Panamagate graft case on Thursday. His appearance before the Supreme Court-appointed team is an unprecedented development that will make him the first sitting premier to depose before such a panel.

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