PM Nawaz Sharif among richest Pak lawmakers at Rs 2bn

Islamabad, Jan 9: Prime Minister Nawaz Sharif is among the richest lawmakers in Pakistan with net assets exceeding Rs 2 billion in a country where millions of people live below the poverty line. According to Sharif's statement to the Election Commission of Pakistan (ECP) for 2014-15, the total value of assets in his name and that of his wife jumped to Rs 2.36 billion from Rs 1.71 billion.

His shares in Hudaibiya engineering company, Hudaibiya Paper Mills, Muhammad Bakhsh Textile Mills and Ramzan Spinning Mills remained the same. But the investment in Chaudhry Sugar Mills saw a phenomenal rise of 600 per cent, reaching Rs 120 million from the Rs 20 million last year. Sharif also received foreign remittances of Rs 238.9 million and owns owns four vehicles, including a 2010 Land Cruiser worth Rs 10 million.

The ECP said Pakistan Tehreek-i-Insaf (PTI) chief Imran Khan's assets amounted to Rs 33.3 million. He owns 14 properties in Pakistan, including a gifted residence in Islamabad's Bani Gala and is spread over 300 kanals (one kanal is equivalent to 5445 square feet). Maulana Fazlur Rehman of the amaat-e-Islaam-Fazl (JUI-F), who moves around in bullet-proof land crusiers with an army of bodyguards "owns no car," according to his statement. In what appears to be a clear case of clash of interests, Water and Power Minister Khawaja Muhammad Asif owns thousands of shares in K-Electric, a Karachi-based power generation company.

The minister, who also holds the defence portfolio, owns two houses in the Defence Housing Authority, Lahore. Federal Minister for States and Frontier Regions retired Lt Gen Abdul Qadir Baloch owns 170 acres of agriculture land that he bought for Rs 65.9 million, according to his statement. The land has a market value of Rs 200 million.

The minister holds 10 per cent shares in Gulf Minerals (Pvt) Limited and Delta Resources (mineral company). Sheikh Rasheed Ahmed from Rawalpindi and a fierce critic of India has weapons worth Rs 630,000. He has a car worth Rs 1.86 million and properties worth Rs 22.42 million.

PTI

ABH