Thursday, August 5, 2021

Court orders auction of Nawaz’s seized properties


ISLAMABAD: An accountability court in Islamabad approved on Friday a plea of the National Accountability Bureau (NAB) seeking its permission to auction the seized properties of former prime minister Nawaz Sharif.

The accountability judge directed the authorities concerned to auction the former premier’s moveable and immoveable properties and deposit the money to be earned through the auction into the national exchequer.

The bureau through its Deputy Prosecutor General Sardar Muzaffar Khan Abbasi filed the application.

Also Read: Court orders forfeiting properties of Nawaz Sharif

Abbasi stated that the accountability court had declared Sharif a proclaimed offender in the Toshakhana reference. Despite a lapse of six months, the former premier did not surrender himself before the court, he added.

He recalled that the court had declared Nawaz Sharif a proclaimed offender on August 17 and ordered attaching his property on Oct 1.

He pleaded with the court to allow auction of the properties of Sharif in accordance with the law.

Also Read: LHC seeks five-year record of Toshakhana auctions

The properties worth billions of rupees include Ittefaq Foundry, Hudaibia Paper Mills, Baksh Textile and Hudaibia Engineering. Furthermore, the assets of Sharif in Upper Mall Road area, the fish farm built on 110 acres of land, 20 acres of land in Lahore, a bungalow located in Murree, Shangla’s house, five luxurious cars registered against the name of the former prime minister will be auctioned.

The amount of three foreign and five Pakistani bank accounts will also be moved to the national kitty after the court’s approval.

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