Former president General (R) Pervez Musharraf has not declared the billions owned by him in the asset details that have been given to the Election Commission of Pakistan.
Musharraf, who has landed back in the country with the intention to contest election and become the nation’s saviour, is currently facing criminal cases in the courts. This is the first time in Pakistan’s history that a former dictator has been dragged into court despite the fact that the currently has been ruled by military men for most of its short history.
According to reports, Musharraf had Rs2.156 billion in eight foreign accounts in 2011-12 but the amount he mentioned in his nomination forms is in no match with his ‘billions’ in offshore accounts. Where have those billions gone is a multi-billion dollar question.
Musharraf’s nomination form submitted in Islamabad (NA-48) revealed that his net assets were worth Rs 645 million on June 30, 2012 after having an increase of Rs129 million in one year. The documents said that Musharraf’s spouse Sehba Musharraf has invested Rs 1,961,465 in Bank Alfalah shares.
Besides 170 tolas of gold, the ex-dictator has Rs5 million cash in bank and also owns furniture and articles worth Rs 6 million. Musharraf has also mentioned that his personal expenditure is Rs 8 million.
Media had reported back in 2012 that Musharraf had made huge saving investments abroad to earn large profits. In just one Dubai-based online trading service – MMA – Musharraf had US$ 1,600,000 (Rs145 million) in 2011. Musharraf’s account number, according to the source in this company, was AV77777.
In the Union National Bank, which is an investment bank in Abu Dhabi, Musharraf and his spouse Sehba Musharraf, had a joint account No 4002000304, in which the amount in mid-2011 was almost UAE Dirhams 17,000,000 (Rs 391 million). In the same bank the couple had another joint account No 400200315, which is a dollar account.
This particular account in 2011 contained US$ 535,325 (Rs 48 million). In yet another UAE Dirham account in the same financial institution – the Union National Bank – Sehba and Musharraf had almost UAE Dirhams 7,600,000 (Rs174 million) in 2011. The account No is 4003006700.
In the fourth account, No 4003006711, in the Union National Bank, they had UAE Dirhams 8,000,000 (Rs184 million).
In the fifth account, No 4003006722 in the same bank Musharraf and his wife had US$ 8,000,000 (Rs 728 million). In the sixth account, No 4003006733, Mrs Sehba Musharraf and Mr Pervez Musharraf had UAE Dirhams 8,000,000 (Rs184 million) in 2011.
In the seventh account, No 4003006744, in the same bank the couple holds UAE Dirhams 8,000,000 (Rs184 million). In their eighth account in the same bank they had another US$ 1,300,000 (Rs118 million).