NAB gets court nod to auction Sharif’s properties
LAHORE: Properties and assets of former prime minister Nawaz Sharif will be put up for auction as an accountability court of Lahore on Friday accepted a petition filed by the National Accountability Bureau ( NAB) Rawalpindi in the Toshakhana reference.
Giving out the verdict, the court told the chairman of Securities and Exchange Commission of Pakistan (SECP) to sell Sharif’s shares. Authorities may proceed with any auction that they do not receive an objection against.
The court directed the deputy commissioners of Lahore and Sheikhupura to auction the former premier’s properties within 60 days and submit a report in this regard.
The amount from the auctions will be submited to the national exchequer, the court said. Sharif’s vehicles will be forfeited with the assistance of police and also auctioned within 30 days. The court also directed to transfer the amount in Sharif’s bank accounts to the exchequer.
Earlier, the court had declared Sharif an absconder for his non-appearance before it. On April 19, the NAB started the process of auctioning all the properties of Sharif and his dependents and has requested an accountability court to issue directions to the concerned authorities in this regard.
The PML-N supreme leader has been in London since November 2019 when the government gave him a permission to fly abroad to get medical treatment for a debilitating health condition.
The Islamabad High Court (IHC) on Dec.2, 2020 also declared Sharif a proclaimed offender ater he ignored all summonses and proclamations of the bench that was originally formed to hear appeals against his conviction in two grat cases.
SHAHBAZ RELEASED: A day ater the Lahore High Court (LHC) approved his bail in a money laundering case, the PML-N President and Opposition Leader in the National Assembly Shahbaz Sharif was released from Kot Lakhpat Jail on Friday.
A large number of party leaders and workers including Hamza Shahbaz, Rana Sanaullah and Saad Rafique have gathered outside Kot Lakhpat Jail to welcome their leader.
Shahbaz personal vehicles also reached outside the prison. He was driven to his Model Town residence where PML-N leaders, including vice president Maryam Nawaz, arrived to greet him on his release from the prison ater nearly seven months.
Earlier, PML-N Lahore Chief Organiser Chaudhry Muhammadnawazandmaliksaifulmalookkhokhar appeared in the court as guarantors while counsel for Shahbaz submited the surety bonds of Rs5 million each following which Robkar was issued.