Shahbaz Sharif poorer than Nawaz Sharif; owns wealth worth Rs 417.32 million

ISLAMABAD: Weeks after Prime Minister Nawaz Sharif emerged among the richest men of Pakistan with Rs 2.36 billion in assets, his younger brother Shahbaz seems poorer in comparison with family wealth of Rs 417.32 million.

But the younger Sharif, who is the chief minister of Pakistan's most populous Punjab province, owns more personal assets abroad, the Dawn reported.

The total value of Shahbaz's two properties in London is over Rs 153 million, while worth of his assets in Pakistan is Rs 108.24 million, which includes agricultural plot (Rs 3.6 million), properties in Murree (Rs 16.60 million), investments in the industrial sector (Rs 720,000), a Land Cruiser (Rs 20.82 million) and cash and bank balance (Rs 66.59 million).

The total value of his assets in the UK and Pakistan stands at Rs 262.29 million, but he has a liability of Rs 130.22 million and, therefore, his net wealth amounts to Rs 132.06 million.

His first wife Nusrat Shahbaz is wealthier than him, with net wealth of Rs 276.03 million, including three houses (Rs 186.58 million) and agricultural land (Rs 51.53 million).

Shahbaz's second wife and eminent writer, Tehmina Durrani, has assets worth Rs 9.23 million, but the only aspect in which she surpasses Nusrat is that she owns two cars.

The total wealth of Shahbaz and his two wives stands at Rs 417.32 million.

Prime Minister Sharif has no asset abroad, but receives huge sums from his son Hussain Nawaz who lives in the UK.

Nawaz's wealth phenomenally went up from Rs 166 million in 2011 to Rs 2.36 billion in 2014.

But the "poor" Prime Minister owns no house and lives in a home owned by his mother.