Nawaz Sharif's properties, assets to be auctioned

Nawaz Sharif’s properties, assets to be auctioned

File photo of former prime minister Nawaz Sharif.

ISLAMABAD: Properties and assets of former prime minister Nawaz Sharif will be put up for auction as accountability court on Friday accepted a petition filed by the National Accountability Bureau (NAB) Rawalpindi.

After the accountability court’s approval, the concerned provincial governments will be able to auction Nawaz Sharif’s properties wherever they are located.

The court has directed Deputy Commissioner Lahore and Sheikhupura to submit a report on the matter within 60 days. The properties should be auctioned and the money should be deposited in the national treasury, the court has ordered.

PML-N supremos’ vehicles should also be auctioned within 30 days, the court further said, adding that the vehicles will be seized and sold with the help of the police, the court said.

The court also ordered the seizure of any funds in Nawaz Sharif’s bank accounts and their deposit in the public exchequer.

However, the accountability court said only those properties on which the Sharif family hasn’t raised objections can be auctioned. Maryam Nawaz has objected to the confiscation of the Murree and Changa Gali residences.

Meanwhile, the chairman of, Securities, and Exchange Commission of Pakistan has been directed to sell shares owned by Nawaz Sharif in four companies. Proceeds from the sale should be deposited in the national treasury, the court said.

Toshakhana reference

The anti-corruption watchdog’s decision to auction the PML-N leader’s assets comes after he was declared a proclaimed offender in the Toshakhana reference.

An accountability court had ordered the attachment of the properties in question on January 1 last year.

The former PM, however, had not surrendered to the court even months after the order of attachment.

NAB argued that Nawaz willfully did not surrender despite being a proclaimed offender and so the attached properties are required to be sold out as per the prescribed procedure.

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