Shehbaz Sharif, family own benami wealth in access of Rs2.40 bn

National Accountability Bureau (NAB) said on Monday that investigations into former Chief Minister Shehbaz Sharif and his family’s wealth has thus far revealed benami companies worth Rs 2.40 billion.

The undeclared (benami) wealth is being represented by three different front men whose details have been revealed.

Sources say that Nisar Ahmed, Syed Tahir Naqvi and Ali Ahmed are all front men to the massive wealth which originally belongs to leader of the opposition in the national assembly, Shehbaz Sharif and his family.

President of Pakistan Muslim League Nawaz (PMLN), Mian Muhammad Shehbaz Sharif and family own companies by the name of Good Nature, Uni-Toss, Waqar Trading and Nisar Trading which is considered benami in nature and apparently being represented by designated front men.

According to the NAB report on the properties owned by the family and its patriarch Shehbaz Sharif amounted to Rs2 million in the year 1990.

After being appointed chief minister Punjab for the first time in 1997, Shehbaz Sharif and family’s assets saw a considerable boost, now worth Rs30.5 million.

In the year 2003, Shehbaz Sharif, Hamza Shehbaz and Salman Shehbaz filed their accumulative wealth separately which notified the family assets had now exceeded Rs40 million.

From the year 2004 till the year 2008 no member of the family except Hamza Shehbaz submitted his asset details, the reported read further.

Shehbaz Sharif’s wives and children transferred money to Shehbaz Sharif in the year 2009, the family assets had now shown an exponential increase with a total in access of Rs1 billion.

Shehbaz Sharif and families accumulative assets in the year 2018 had gone up to Rs7 billion, claimed the NAB report.