NAB decides to auction all the properties of former PM Nawaz Sharif

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NAB decides to auction all the properties of former PM Nawaz Sharif

LAHORE – Pakistan's accountability watchdog has decided to auction all the properties of former prime minister Nawaz Sharif and his dependents.

The National Accountability Bureau (NAB) would file an application in an accountability court on the matter, reports in local media suggested on Monday.

According to the SECP, Nawaz Sharif owns 467,950 shares in Muhammad Bakskh Textile Mill, 343,425 shares in Hudabiya Paper Mills, 22,213 shares in Hudabiya Engineering Company and 48,606 shares in Ittefaq Textile Mills.

He has eight accounts in various private banks, including three foreign currency accounts. The supreme leader of Pakistan Muslim League-N (PML-N) also has Rs612,000 in five bank accounts and in his foreign currency accounts, Nawaz has €566, $698 and £498 respectively.

He also owns a bungalow in Murree, a 15 kanal house in Changla Gali, Abbottabad and property in Upper Mall Lahore, while Sharif and his dependents own more than 1,752 kanals of agricultural land which includes 936 kanal in Mouza Manak in Lahore, 299 kanal in Mouza Baduksani, 103 kanal in Mouza Mall Raiwind in Lahore, 312 kanal in Mouza Sultan, 14 kanal in Sheikhupura district and 88 kanal in Mouza Ferozwatan.

According to the Excise and Taxation offices of Lahore and Islamabad, Nawaz also owned three luxury vehicles and two harvesting vehicles.

The 71-year-old has been in London since November 2019 when the government gave him rare permission to fly abroad to get medical treatment for debilitating health conditions.

Last year in September, Islamabad Accountability Court-II judge Azam Khan declared Nawaz a proclaimed offender in the Toshakhana case after the PML-N suprmeo failed to appear before the court.