Accountability court gives go-ahead to auction Nawaz Sharif’s property

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ISLAMABAD – An accountability court on Thursday issued orders for auction of the property owned by former prime minister Muhammad Nawaz Sharif as he is absconding in Toshakhana reference.

Accountability court judge Syed Ashar Ali issued the orders while hearing the reference filed by National Accountability Bureau (NAB) against the PML-N supremo, former president Asif Ali Zardari and two ex-premier Yousaf Raza Gillani, local media reported.

The judge directed the authorities to auction only those properties about which no objection has been raised.

Later, the court adjourned the case.

NAB on Monday decided to approach the court to get order for auction all the properties of former prime minister Nawaz Sharif and his dependents.

Last year in September, Islamabad Accountability Court-II judge Azam Khan declared Nawaz a proclaimed offender in the gift repository, Toshakhana, case after the PML-N supreme leader failed to appear before the court despite repeated summonses.

The court had also initiated the process to confiscate Nawaz’s properties and directed NAB to make his arrest through Interpol.

According to the SECP, Nawaz Sharif owns 467,950 shares in Muhammad Bakskh Textile Mill, 343,425 shares in Hudabiya Paper Mills, 22,213 shares in Hudabiya Engineering Company and 48,606 shares in Ittefaq Textile Mills.

He has eight accounts in various private banks, including three foreign currency accounts.

Nawaz also has Rs612,000 in five bank accounts and in his foreign currency accounts, Nawaz has €566, $698 and £498 respectively.

Read more: https://pakobserver.net/court-orders-seizure-of-sharifs-assets-in-toshakhana-reference/

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