ISLAMABAD: Former Punjab chief minister Mian Shahbaz Sharif owns two properties in the United Kingdom, holds over half a million shares in three industrial units and owns 675 kanals of agricultural land in Lahore and Sheikhupura, but his son Hamza Shahbaz is richer than him with total assets worth Rs411 million.

In his statement of assets for 2017 annexed with his nomination papers submitted to the returning officer concerned, Shahbaz Sharif has put the total value of his assets at Rs159m, but excluding the amount equivalent to Rs108m secured against his properties in the UK, the net worth of his assets comes to about Rs50m. This means his son is eight times richer than him.

The net assets have declined to Rs50.10m from Rs92.94m in 2016, reflecting a decrease of Rs42.84m. Shahbaz Sharif has paid Rs7.6m, Rs9.53m and Rs10.29m as income tax in 2015, 2016 and 2017, respectively.

Former Punjab chief minister’s net assets value comes to Rs50m and his son’s amounts to Rs411m

Though his landholding increased from 585 kanals in 2015 and 2016 to 673 kanals in 2017, his agricultural income, which stood at Rs6.5m in 2015, dropped to Rs5m in 2016 and then to Rs3.5m in 2017. Most of the agricultural land is stated to be gift from his mother.

The cost of Shahbaz Sharif’s two apartments in the UK has been valued at £241,281 and £677,014. He owns a “partially gifted” Toyota Land Cruiser worth Rs6.3m. The word ‘partially’ is apparently a new addition to the car’s status disclosed in the previous statement of assets submitted to the Election Commission of Pakistan. He has a bank balance of Rs11.4m.

His wife Nusrat Shahbaz owns a 10-kanal house in Lahore and a 9-kanal house in Doonga Gali, valued at Rs186.6m. She owns 287 kanals of land in Kasur and has shares in six properties. She holds over 6.44m shares in Ramzan Sugar Mills transferred to her by an undisclosed member of the family, besides around half a million shares in 11 other industrial units owned by the Sharif family.

Shahbaz Sharif’s other wife Tehmina Durrani owns six properties, including a house in Lahore and one acre agricultural land in Gwadar.

The assets owned by Hamza Shahbaz include 11 pieces of non-agricultural land and properties in Lahore worth over Rs136m, 150 kanals of agricultural land amounting to Rs30m and shares in 21 companies, including sugar and textile mills, worth nearly Rs133m.

His landholding slightly decreased in 2017, but his agricultural income continues to grow unlike his father. His agricultural income was Rs2m in 2015, Rs2.14m in 2016 and Rs3.5m in 2017.

Hamza Shahbaz’s non-agricultural income was Rs19.19m in 2015, Rs21.52m in 2016 and Rs25.40m in 2017. He spent over Rs5.5m on nine foreign visits over the past three years.

His wife Mehrunissah Hamza has net wealth worth Rs2.2m, while other wife Rabia Akram has net wealth amounting to Rs39.4m.

His cousin, Maryam Nawaz, who entered active politics following the disqualification of her father and is now set to make her debut in electoral politics, owns assets worth over Rs0.840 billion.

According to the details of her assets annexed with her nomination papers, she holds shares in Chaudhry Sugar Mills Limited, Hamza Spinning Mills Limited, Mohammad Bukhsh Textile Mills, Hudaibya Papers Mills and Hudaibya Engineering Company Pvt Limited. She owns 1,506-kanal irrigation land and has invested Rs3.4m in her family’s flour mills. She owns jewellery worth Rs1.7m.

Coincidently, the net value of assets of Pakistan Peoples Party chairman Bilawal Bhutto-Zardari is higher than his father Asif Ali Zardari’s, making the former richer than the latter. The total value of Mr Zardari’s assets comes to around Rs758.66m — almost half of that owned by his son.

Published in Dawn, June 22nd, 2018