ISLAMABAD: In the first three years of the Prime Minister Imran Khan-led government, the wealth of Farah Khan — a close friend of first lady Bushra Bibi — grew exponentially, The News reported Thursday.
The total declared assets of Farah, also known as Farhat Shahzadi and Farah Gujjar, grew by four times from Rs231 million in 2017 to Rs971 million in 2021. Her filing in 2018 was nil.
Farah is the closest friend of the first lady of Pakistan, Bushra Bibi. The brief ceremony of the marriage of PM Imran Khan with Bushra Bibi also took place at Farah’s residence.
Opposition leaders, including Aleem Khan — former close aide of PM Imran Khan — have levelled serious allegations of corruption against Farah Khan who, according to them, minted millions of rupees in every transfer and posting in Punjab during the PTI–led government's tenure.
The News investigations' reveal that Farah Khan’s fortune increased ever since the premier appointed Usman Buzdar as Chief Minister of Punjab. Her declared assets before PM Imran Khan came into power were reported to be worth Rs231,635,297 (Rs231 million) in 2017. However, within the first three years of PM Imran Khan’s government, Farah bought several properties in different cities and made investments worth hundreds of millions of rupees in different business sectors.
Farah, as per the documents, also availed the whitening of black money scheme (Tax Amnesty Scheme) in 2019 during PM Imran Khan’s government and declared assets worth Rs328 million under the Tax Amnesty Scheme 2019.
The documents further show that Farah bought some luxurious properties in Lahore and Islamabad, including a villa in a posh sector of Islamabad. According to the documents, Farah declared a 933 square yards house in Islamabad’s Sector F-7/2, which she bought for Rs195 million.
Farah’s filing for the tax year 2018 shows nothing. However, within a year after PM Imran Khan appointed Buzdar as Chief Minister of Punjab, Farah's assets grew by two times in the tax year 2019 (July 2018- June 2019).
The total assets of Farah Khan reached Rs699,137,839 inside Pakistan, Rs15,749, 479 outside Pakistan in the form of a flat in the UAE. Hence the total assets inside and outside Pakistan were recorded at Rs714,887,318. The net assets were reported as Rs697,502,318.
Similarly, for the tax year 2020 (July 2019-June 2020), the total assets of Farah were recorded at Rs740,300,166 (Rs740 million), including Rs724,550,687 (Rs724 million) inside Pakistan and a flat in the UAE worth Rs15,749,479 (Rs15 million) outside Pakistan. The net assets for the tax year were reported as Rs707,001,827 (Rs707 million).
The documents further show that the total assets of Farah in tax year 2021 (July 2020-June 2021) were recorded at Rs971,869,187 (Rs971 million), including Rs956,119,708 (Rs956 million) inside Pakistan and a flat in the UAE worth Rs15,749,479 (Rs15 million) outside Pakistan. The net assets for the tax year were reported as Rs752,370,848 (Rs752 million).
Below are the details of Farah's assets, including properties and investments inside and outside Pakistan from the tax year 2017 to 2021.
Commercial, industrial, residential property (non-business) House No99-Y DHA Lahore worth Rs67,475,870;
Commercial, industrial, residential property (non-business) Plot No 63-Z, Block Z, Lahore (investment made by husband) Lahore Gulberg Town worth Rs43,528,630;
Business capital worth Rs60,706,348;
Business capital Ghosia builders and developers worth Rs28,889,348;
Business capital in GBPL (gift by husband) worth Rs29,827,000
The total assets inside Pakistan along with other investments, including the above properties, were recorded at Rs231,635,297. She also showed Rs4,190,400 in foreign remittances and received Rs61,428,630 in gifts during the tax year 2017. The list includes some other assets and investments in different business ventures.
Business capital in Burraq Enterprises worth Rs30,000,000
The list includes many other assets and details of her investments in different business ventures.
The News tried to contact Farah, but her contact numbers were out of reach. An attempt was also made to contact her husband Ahsan Iqbal Jamil and messages were sent to him on his WhatsApp number, but he, too, was out of reach.
However, a source close to the family claimed that the corruption charges being reported were untrue and all the wealth was earned by honest means.