Hamza has double the wealth than father Shehbaz

ISLAMABAD: Hamza Shehbaz has assets worth Rs 410 million, making him richer than his father Mian Shehbaz Sharif who declared his assets with a total value of Rs 159 million.

According to ECP documents, former Punjab chief minister Shehbaz 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.

Read: ‘Thousands of acres land, luxurious vehicles’: Zardari reveals asset details

Shehbaz 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, according to ECP documents.

The cost of Shehbaz Sharif’s two apartments in the UK has been valued at £241,281 and £677,014.

The assets owned by Hamza Shehbaz 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.

Hamza’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.

Interestingly, the total value of assets owned by Pakistan Peoples Party chairman Bilawal Bhutto-Zardari is also higher than his father Asif Ali Zardari’s. Bilawal owns Rs 1.5 billion, according to the ECP, while Mr. Zardari’s assets amounts to Rs 758.6 million.