Thursday, March 03, 2011
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Gilani's son gained massive wealth after father’s rise
Prime Minister Syed Yusuf Raza Gilani’s son Abdul Qadir Gilani’s assets multiplied 10 times after his father took office, a news report said on Tuesday.
Abdul Qadir has purchased an expensive house in Defence Housing Authority (DHA) Lahore, new bank accounts were opened in no time, land deals were made and massive investment in prize bond business was made, his June 2009 declaration of assets and liabilities shows, the report appearing in the leading English language daily The News said.
He owned assets worth Rs8.5 million at the time of 2008 general elections but his net wealth shot up to a whopping Rs72 million in June 2009.
Abdul Qadir was not in the business of prize bonds before contesting the elections but now his only business has been of prize bonds, a business generally done by people wishing to whiten their black money.
He possessed 50 tolas of gold in 2008, which increased to 500 tolas in June 2009.
He had Rs2.1 million in the bank at the time he contested elections in 2008 but by June 30, 2009 his cash-in-hand swelled to Rs17 million, according to his sworn disclosure.
He also has prize bonds worth Rs2 million.
Not mentioned in his assets details is a multi-million rupee bullet-proof land cruiser, which he says he purchased in 2009.
He did not own any house in early 2008 as per his assets declaration submitted to the Election Commission of Pakistan.
In June 2009 he mentioned purchase of a house in DHA’s Block B, disposing it of and then purchasing another in Y-block for Rs32 million. His permanent address as shown on the Punjab Assembly website indicates that the apparently sold house of Block-B is still in his possession.
He used to own 110 acres of agriculture land in 2008, which increased to 123 acres in June 2009.
Abdul Qadir had accounts in Faysal Bank and Union Bank in 2008, the former without a single penny and the latter having a sum of Rs2.1 million.
gulftoday.ae | Gilani son gained massive wealth after father
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