'Billionaire' Nawaz Sharif has no assets abroad: Pak Election Commission

According to a statement by the Election Commission of Pakistan (ECP), Prime Minister Nawaz Sharif has no assets abroad, but continues to receive vast amounts from his son, Hussain Nawaz who lives in the United Kingdom.

According to Dawn, the statement which was released amidst the ongoing furore over the Panama Papers expose, the value of the assets owned by Sharif and his spouse comes to around Rs2 billion, which is an increase of over a billion in just four years.

The value of his assets in 2011 was Rs 166 million, which ballooned to Rs 261.6 million in 2012 and then to Rs 1.82 billion in 2013, making him a declared billionaire, and then, in 2014, the declared value of his assets rose to around Rs 2 billion.

Sharif received over Rs 215 million from his son Hussain Nawaz in 2015. He had previously received remittances from his son, worth Rs 239 million and Rs 197. 5 million in 2014 and 2013, respectively.

Sharif owns a Toyota Land Cruiser as well as two Mercedes vehicles and the house he lives in is owned by his mother.

He also has multiple foreign and local currency accounts, huge swathes of agricultural land and investments in industrial units such as sugar, textile and paper mills.

Sharif has also declared, ownership of birds and animals worth Rs2 million.

His wife, Kulsoom Nawaz, has land and a house that is worth Rs 80 million, a bungalow on The Mall in Murree which is worth Rs100 million, as well as shares in the family business.

Their son-in-law, retired Capt. Mohammad Safdar has listed only one property and 550 grams of jewellery in the name of his wife, the PM's daughter, Maryam Safdar.

According to the ECP statement, the property owned by Maryam Safdar is a 2006 BMW 4800CC car, while her jewellery is worth Rs1 million.

The net worth of the Prime Minister's son-in-law is only Rs 5 million, aside from some 20 acres of land in Mansehra district and around 215 acres of barren land in Rajanpur, Punjab.