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In the process of looking at the asset declarations by Advisors and SAPMs. No expert, of course, but some observations, from just a cursory reading of the statements uploaded... (Thread)
Dr Shahbaz Gill has declared net assets of 94 million Rupees as at June 30, 2019, of which about 40 million in the US. Interestingly, he does not seem to have an investment portfolio. No stocks, no retirement fund. Investments section is completely blank.
Tania Aidrus has declared net assets of roughly 325 million Rupees, including two properties in the US, one in London, and one in Singapore. She does have a stock portfolio but seems to be all Google stock she got as options and grants from her employer.
Dr Moeed Yusuf has declared assets of 109 million Rupees and no liabilities. No property abroad, no stocks and shares portfolio, no retirement fund. Interestingly, 74 million Rupees of the 109 million is in cash and bank balances. Very liquid position to be in.
Nadeem Babar is rich! But, I guess we all knew that. 2.7 billion Rupees of assets declared by him. Several properties, incl. a house in Houston, lots of investments, incl. 950 million in Orient Power. Interestingly, he has declared two life insurance policies but not their value.
Lt Gen (R) Asim Bajwa declared 168 million Rupees of assets, by my reckoning (statement doesn't have a total) mostly in property in Islamabad, Karachi, and Lahore. Very little cash. Surprisingly little. Less than a million in his bank accounts.
Dr Zafar Mirza's declaration is hand written, seemingly done in a hurry. Only about 56 million Rupees in assets, mostly in property. No investment portfolio, no retirement fund, no savings certificates. Very little cash: less than 2 million. How long did he work for the WHO?
Sardar Yar Mohammad Rind: 812 million Rupees. Very wealthy, and most of it in land and property, as one would expect. A villa and an apartment in Dubai, which would suggest in Iqama. Maybe that's why he didn't file his nationality declaration. I liked the reference to "wives" 🙂
Nadeem Afzal Chan declared only 41 million Rupees in assets. His declaration is undated and there's really nothing much of note, except property. Interestingly, 12 out of the 41 million is declared under "any other assets".
Usman Dar: love the handwriting of whoever filled the form! About 61 million Rupees in net assets declared. More than half in cash. Rs34,345,937 to be precise. Someone must have sat down and counted! 20 million Rupees in shares declared at par value, so doesn't reflect worth.
Ali Nawaz Awan, who is an MNA, so probably his regular annual declaration. It's as at Jun 30, 2019 and declares roughly 53 million Rupees. Mostly property. Again a very precise amount for cash in hand: Rs871,511. Someone had to count it. Including the coins!
This is an interesting one... Shahzad Qasim, SAPM Power Division & Coordination of Marketing and Development of Mineral Resources. Don't remember every seeing him on TV or even hearing about him. Nothing stated on the main form, everything in Annexes.
Hard to work out the total: multiple currencies and he hasn't converted into Rupees. So, I made the effort to do it. Damn, those villas in Dubai are expensive! That's over a billion Rupees in just properties. Who is this guy???
Add to that 140 million Rupees in movable assets, 46 million in the bank in Pakistan, 460 million abroad, including investment accounts in the US. He is the only one so far who has declared his 401K balances, from McKinsey and AES Corp.
So, the total for Shahzad Qasim works out to close to 1.8 billion Rupees. Very comprehensive declaration. He seems to have been fully transparent. I did some open-source validation and the couple of things I looked at checked out.
Seems very highly qualified: MS Energy Management Policy from U-Penn, stellar career: ConEd, McKinsey, President, Europe CIS and Africa at AES. Then a startup in Chicago, a company in the UAE and now on IK's team.
Zulfi Bukhari next. Very interesting. By my count, more than 3.1 billion Rupees in assets. The most notable being that flat in St. John's Wood that's nearly a billion Rupees just on its own. And that Land Cruiser??? Must be bullet proof or something.
Mirza Shahzad Akbar: Not much to see here... 52 million Rupees between him and his wife. Property, cars, jewelry, bank accounts, cash. No investments, no stocks, no certificates. Boring. Except that he's got 15 million cash in hand. I'd love to peek under his mattress at home!
Next, Shehzad Arbab. 127 million Rupees in assets declared, of which the vast majority (106 million) is property. The rest is basically just cash and bank balances. No cars, no investments, no stocks and shares. Old fashioned, I guess.
And, finally, Dr Sania Nishtar. Hand written form from her too. Inherited property in Peshawar, a car, some gold, about 15 million in the bank, and a loan liability of 24 million. She may actually be negative. Nothing of note.
I have to say, another first for transparency by PM Imran Khan. Now that all his team members have put this out, they are not only open to scrutiny, like I (very shallow-ly) did, but they will also have to answer if they omitted something or if their wealth grows unexpectedly.
So, well done, Skipper. Another commitment fulfilled and another step towards transparency and accountability. #BehindYouSkipper
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