Pakistan: Rich sons of rich politicians

The rich sons of the leading politicians have come up with details of their statement of assets and liabilities, and Mian Shahbaz Sharifís son MNA Muhammad Hamza Shahbaz is among the leading legislators in terms of fortunes as per the details he submitted to the Election Commission of Pakistan. The details of his assets show him more like a corporate figure than a politician, who talks so much about the plight of the teeming millions across Pakistan. The PML-N legislator, elected from NA-119, has Rs213.778 million net wealth. He has shares in Chaudhry Sugar Mills, Ramzan Sugar Mills, Hamza Spinning Mills, Muhammad Bukhsh Textile Mills, Kalsoom Textile Mills, Hudebiya paper Mills, Hudebiya Engineering Co. (Pvt) Ltd., Khalid Siraf Industries Ltd., Madina Trading (Pvt) Ltd., Madina Construction Company, Sharif Food Mills Ltd., Sharif Poultry Farms (Pvt) Ltd., Sharif Dairy Farms (Pvt) Ltd. And Ramzan Energy Limited. The net value of all these shares is Rs116.198 million, as reflected in the statements, he filed with the ECP and printed in the official gazette by the electoral body for the year 2011. There is unsecured loan to the tune of Rs90.137 million in the name of Sharif Food Mills, Sharif Poultry Farms, Madina Trading and Madina Construction Company. Hamza has cash and bank balance amounting to Rs7.425 million. There is also a mention of assets, owned by his spouse Mehrunissah Hamza: she has 50-tola jewellery, valued at Rs0.9 million. Her cash and bank balance is Rs1 million while the value of her furniture and other articles is estimated at Rs0.6 million. Hence the total value of her assets is Rs2.5 million. These details indicate she has no share in what her husband Hamza has got. Hamzaís father Chief Minister Punjab Mian Shahbaz Sharif, like him, is also apparently the richest among the Punjab Assemblyís lawmakers with assets of Rs315.78 million, showing a significant increase of Rs69 million, as compared to what he had got the corresponding year. On the one hand, his net assets have registered increase, on the other there has been a decline of around Rs47 million. At the same time, the cash in hand and bank balance has also shown a whopping jump to Rs123 million from mere Rs5.75 million. The chief minister owns two properties in Murree, valuing Rs16.60 million and 728-kanal of farm land worth just Rs6.9 million. He has also invested in sugar, paper mills and textile mills, but far less than his son Hamza. His investment in these mills is around Rs21 million. He also has property abroad (UK) like some other politicians and bank accounts as well worth nearly Rs123 million. Shahbaz owns only a Land Cruiser, valued at Rs20.81 million that too was gifted to him. Prime Minister Yusuf Raza Gilaniís elder son Syed Abdul Qadir Gilani, who is an MPA, is also among the rich members of the Punjab Assembly, who owns properties worth Rs47.36 million, besides having two vehicles that include a bullet-proof Toyota Land Cruiser worth Rs12.80 million. His fortunes also include 500 tola gold worth Rs13 million and Rs2.55 million in banks. His younger brother Ali Musa Gilaniís statement of assets and liabilities is not included in the official gazette, since he became MNA early this year, whereas this requirement has to be fulfilled by September 30 every year.Moonis Elahi, the son of ex-chief minister and Senior Minister Ch Pervaiz Elahi, owns assets, valued at Rs465.99 million.