ISLAMABAD: Prime Minister Imran Khan's total assets showed a reduction of over 30 million rupees in the fiscal year 2019-20 when his wealth was recorded at Rs 80.6 million compared to Rs 110 million in fiscal year 2018-19. According to the details of assets of Members National Assembly (MNAs) issued by the Election Commission of Pakistan (ECP) for fiscal year 2019-20, the net worth of PM's assets is Rs 80.6 million. He has 10 properties in Pakistan and inherited a seven-kanal house in Zaman Park, Lahore, valued at Rs 40.53 million.
The PM received a 300-kanal house in Bani Gala as a gift. Additional construction-related costs of the house cost him another Rs 10.14 million. He has a six-kanal plot in Mohra Noor, Islamabad worth Rs 0.5 million, and five inherited plots in Mianwali, Bhakkar, Sheikhupura and Khanewal.
He spent Rs 10.19 million to buy two apartments at Shahra-e-Dastoor in Islamabad. He has four goats worth Rs 200,000 in total, and Rs 50.66 million in a Pakistani bank account. The PM also has Rs 10.99 million in cash. He has four foreign-currency bank accounts. One of his accounts has £518, another one contains $328,760, while the third account has $1,470. He has no money in his euro account.
The details of the PM's assets released by ECP for fiscal year 2018-19 suggested the PM's net worth was recorded at around Rs 110 million including 155 acres commercial an agricultural land.
Like last year, the PM voluntarily submitted the wealth details of his spouse Bushra Bibi to the ECP, even though she is not a parliamentarian. She has a 3-kanal house in Banigala, 431 kanals of land in Pakpattan and 266 kanals of land in Okara registered in her name, according to Bushra Bibi's wealth details submitted with ECP.
The total assets of Leader of the Opposition in National Assembly Shehbaz Sharif are valued at Rs 247.4 million. He has Rs 63.9 million in bank accounts. He has assets in Britain worth Rs 137.8 million. Noor Alam Khan is richest MNA with assets worth Rs 3.2 billion. Federal Minister for Energy Omar Ayub Khan's assets are of worth Rs 1.21 billion.
The assets of Defence Minister Pervaiz Khattak are recorded at Rs 150 million. Speaker NA Asad Qaiser's assets are valued at Rs 80 million and he is under the debt of Rs 12.6 million Constitutionally, the lawmakers are bound to submit their yearly statements of assets and liabilities and those of their spouses and dependent children as on each year's June 30, a mandatory requirement under Section 137 of the Elections Act, 2017.
This section reads, "Submission of statement of assets and liabilities.-(1) Every member of an Assembly and Senate shall submit to the Commission, on or before 31st December each year, a copy of his/her statement of assets and liabilities including assets and liabilities of his spouse and dependent children as on the preceding thirtieth day of June on Form B.
"(2) The Commission, on the first day of January each year through a press release, shall publish the names of members who failed to submit the requisite statement of assets and liabilities within the period specified under sub-section (1).
"(3) The Commission shall, on the sixteenth day of January, by an order suspend the membership of a member of the Assembly and Senate who fails to submit the statement of assets and liabilities by the 15th day of January and such Member shall cease to function till he files the statement of assets and liabilities.
"(4) Where a Member submits the statement of assets and liabilities under this section which is found to be false in material particulars, he may, within one hundred and twenty days from the date submission of the statement, be proceeded against for committing the offence of corrupt practice."
The ECP, every year, makes public the wealth details of the legislators, their spouses and dependent children of the previous fiscal year.
Copyright Business Recorder, 2020
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