NAB likely to decide ‘receiver’ on Sharifs’ properties soon


–Profits, earnings from Sharif family’s assets will be deposited in special bank accounts until cases are decided

ISLAMABAD: The National Accountability Bureau (NAB) is all set to appoint a ‘receiver’ on the earnings from the properties of Sharif family and as a result, the Sharif family will not get any revenue from the said properties, sources said on Monday.

Well-informed sources told Pakistan Today that NAB, which is currently investigating Sharif family for alleged corruption, is nearly set to appoint ‘receiver’ under Section 12 of NAB Ordinance. They said that after the appointment of a ‘receiver’, the Sharif family will be not allowed to use the earning and profits of their properties till the final decision of corruption cases.

They said that the earnings and profits worth approximately billions of rupees on the properties and companies of Sharif family will not be given to Mariam Nawaz, Shahbaz Sharif, Hamza Shahbaz, Suleman Shahbaz, Yousaf Abbas or other shareholders as the earnings will be deposited in special bank accounts by the receiver.

They said that NAB’s recovery and disbursement management cell will look after the affairs of the properties and companies owned by Sharif family till the final decision on the corruption charges.  Permission for the appointment of a ‘receiver’ will be obtained from the concerned accountability court, said sources.

After finding solid evidence and proofs, NAB Lahore has decided to take the extraordinary step of appointing ‘receiver’ over Sharif’s properties, said the sources, adding that the decision to appoint ‘ receiver’ on Sharif family’s properties was taken in a high level meeting.

The sources also said that following the decision to appoint a receiver, NAB has started the process of freezing Sharif family’s assets.

“NAB is set to take this extraordinary step apparently to stop the accused (Sharif family) from taking benefits from the earnings of their properties allegedly made with corruption money,” said a source well aware of the alleged corruption scandals of the family.

It is also learnt from sources that as per Section 12 of NAB Ordinance, deputy commissioner / collector of the district can become the receiver if the property/land or factory of the accused is away from regional office of the NAB. They said that if the final decision will be against the Sharif family then the deposited amount in special bank account will be handed over to national exchequer.  And, if the final decision will be in favour of the accused, then the deposited amount will be transferred to the bank accounts of the accused. Also, appointment of receiver was earlier made in Madarba scandal and in some other corruption cases, said sources.