If you are one of the many silent Pakistanis who do keep an eye on the happenings in the political world but prefer not to do anything, here is a detailed post that you need to read in order to know the reality about the offshore companies possesed by Hussain Nawaz. The names of the family of the Pakistani prime minister in the Panama Papers is a big quesrion mark upin thwir credibility yet they do not resign from the government. Let us share the most updated piece of information with you.
What are Panama papers
The Panama Papers are a list of 11.5 million private documents about 214,000+ offshore companies brought together by the Panamian service provider, Mossack Fosenca. An anonymous source leaked the list from 1970 – 2015 in April 2016, disclosing evidence on offshore client data. Among 143 politicians was also Pakistan’s PM and family of Nawaz Sharif. The leak revealed that three of his children own offshore companies left unmentioned on the family’s wealth report. These include 3 British Virgin Islands based companies assimilated over 1993 – 2007 which were being used to passage funds to gain foreign assets including apartments in the Mayfair area. Sharif’s government was already weak from the military attacks. Now, people are speculating that this leak could bring street excitement and make the military an even stronger opponent
Who is Hussain Nawaz?
Nawaz Sharif, the Pakistani PM, has four children and Hussain Nawaz Sharif is his younger son. He resides at the Sharif Villa, which is his father’s house in Jeddah, Saudi Arabia. Nawaz Sharif lived there during his exile years. Hussain attended the Saint Anthony High School and later graduated from Government College University (GCU) with a dual degree in Art and Business. He then received his law degree from the Law College at the University of the Punjab in Lahore.
What Is the Net Worth of Hussain Nawaz Sharif?
Hussain Nawaz owns two of the apartments on Park Lane in London which sum up to UK £3 million. Nescoll Limited, Nielson Limited and one other company lent him and his sister, Maryam Nawaz, UK £13.8 million in London properties as collateral. It was found that his assets also comprise of a property in the highly expensive and well-known Gloucester Place Hotel in London. He also owns and has his name on the documents to the Dew Street London Estate which is worth UK £1.5 million. Hussain also owns three offshore companies whose net worth amounts to over UK £3.8 million.
How Many Offshore Companies Does He Posses?
In an accountability process held in Punjab after the Panama Papers leak, Hussain Nawaz declared a bunch of information, owning up to the disclosures. He told newspapers and news channels present there during the declaration that he does indeed own three offshore companies. These are Hyperion Flagship Investments Limited, which is worth UK £900 Thousand, Que Holdings Limited, whose net worth reaches around UK £2.9 million, and Queen Pet Limited.
Sad, but true! Please share your views about it.