The Election Commission of Pakistan (ECP) on Monday asked all the lawmakers, including the parliamentarians and members of the provincial assemblies, to share with the commission of their wealth details as well as those of their spouses and dependent children by the end of this year. 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. As per these details issued by the Commission on July 2, Prime Minister Imran Khan, in the fiscal year 2018-19, owned wealth of around Rs 110 million whereas Chairman Pakistan Peoples Party (PPP) Bilawal Bhutto Zardari was among the richest parliamentarians with assets exceeding Rs 1.54 billion compared to President Pakistan Muslim League-Nawaz (PML-N) Shahbaz Sharif who owned wealth of more than Rs 189 million in the fiscal year 2018-19.
According to PM Imran Khan's assets details submitted with the Commission in the fiscal year 2018-19, the net worth of his wealth was valued at Rs 108,236,000. This included four goats that value Rs 200,000. The premier has bank accounts in rupee, dollar, pound and euro. He did not have any vehicle registered in his name. Khan has shown, in his wealth details of the previous fiscal year, his lavish Banigala residence as gifted property (gifted by ex-wife Jemima Goldsmith) and has not disclosed its value. He has Rs 24 million cash in hand and owns agricultural and commercial around 155 acres.
The wealth details of PM's spouse Bushra Bibi submitted to the ECP in the last fiscal year indicated she has a three-kanal house in Banigala and 266 kanals of land in Okara registered in her name, according to Bushra Bibi's wealth details submitted with ECP.
Bilawal's wealth details revealed that he was one of the richest lawmakers. He is a shareholder in two luxury villas in Dubai and his net worth is valued at Rs 1.54 billion. In comparison with Bilawal, his father Asif Ali Zardari's net assets value over Rs 670 million. Both Zardari and his son Bilawal have Iqama (work permit) holders of Dubai. He has horses worth more than Rs 10 million and weapons worth Rs 16.6 million. As many as six luxury vehicles are registered in Zardari's name.
President PML-N Shahbaz Sharif had assets of over Rs 140.78 million abroad in the financial year 2018-19. The net worth of his assets was Rs 180.96 million. He had two properties and a bank account in London. In Pakistan, the property registered in his name is valued Rs 14.7 million. Shahbaz is a share-holder in Hudaibia Paper Mills and Hudaibia Engineering. Shehbaz has two wives and the worth of assets of his first wife Nusrat Shehbaz is Rs 230 million and that of his second wife Tehmina Durrani is Rs 5.7 million.
Copyright Business Recorder, 2019