ISLAMABAD: Khyber Pakhtunkhwa Chief Minister Mahmood Khan, who happens to be the only declared billionaire in the legislature of the province, is also the country’s richest MPA, with a combined asset valuation of Rs2.38 billion.
Mr Khan, who was elected from PK-09 (Swat), holds agricultural property worth Rs2.33 billion and has Rs40 million in cash and Rs7.7 million in two bank accounts, according to declarations of assets of members of the provincial assemblies (MPAs) for the financial year ending on June 30, 2019. He doesn’t own a motorcycle, however.
Bahadar Khan (PK-16, Lower Dir) of the Awami National Party is the second richest MPA in Khyber Pakhtunkhwa, as his properties are worth Rs894m. He owns 20 properties valued at Rs875m, with just one piece of undisclosed agricultural property valued at Rs410m.
In Islamabad and Gwadar, Shakeel Ahmad, a member of the provincial cabinet, owns 18 plots, all priced at just Rs3.1mm
The owners of assets estimated at Rs664.63m is Sher Azam Khan, a PPP lawmaker from PK-87 (Bannu). He holds assets worth Rs521m and has currency or bank accounts of over Rs139m.
He owns 1,865 kanals of agricultural land, a seven-channel house in Lakki Marwat, a 1.5-channel house in Islamabad, and plots in Ghora Gali and Bansara Gali, Murree, among his properties.
The properties held by PK-05 (Swat) PTI MPA member Fazal Hakim Khan rose in value to Rs594m from Rs528m in 2018, recording a rise of Rs66m in a single year.
He put the expense of his assets at Rs573m, which was Rs513m in the previous year’s records, including 24 plots, two commercial buildings, a home, a soda factory and three restaurants. He possessed 800 grammes of gold priced at Rs4m in 2018. He holds 1kg of gold today, the valuation of which was set at Rs7.40m.
Musawar Khan, a PK-19 (Malakand) PTI lawmaker, owns Rs384m worth of industrial, agricultural and residential properties. In 2018, he had no firm, but now he has started a business venture with an investment of Rs65m.
Riaz Khan, a PK-20 (Buner) PTI founder, has Rs350m worth of properties. He owns Rs307m worth of property and has invested Rs40m in the marble sector. Interestingly, he drives a Rs1.2m priced 2009 model car and has no cash in hand or bank account.
This time, not only has Malak Badshah Saleh, a PPP legislator from PK-10 (Upper Dir), modified the expense of his four lands, but also the size of a parcel. In 2018, the expense of the four lands, including 300 acres of agricultural land and another 25 acres of land, was set at Rs130 m. But now the size of the last plot is 50 acres and the cost is Rs45m rather than Rs20m.
From Rs130m in 2018 to Rs215m, the total cost of the four properties has been changed. His investment has increased from Rs130m to Rs145m in a construction firm.
A provincial cabinet member, Shakeel Ahmad, owns 18 plots of unspecified sizes, 11 in Islamabad and the remainder in Gwadar. The cost of all the parcels was set at just Rs3.1m.
The valuation of properties owned by opposition leader Akram Durrani in the assembly dropped from Rs10m in 2018 to Rs7.75m in 2019. In 2018, he owned prize bonds of Rs3m and now still owns around one-third of them.
He owns three houses and 462 canals of land, all inherited, but the market value of the assets has not been listed. In currency, he has Rs4.16m but he doesn’t own a car.