IT Minister and His Wife Declare Combined Assets Worth Rs. 280 Million

Caretaker Minister for IT and Telecom Dr Umar Saif and his wife have declared over Rs. 280 million in a massive financial assets portfolio which includes properties worth over Rs. 200 million, 110 tolas of gold which he has declared at Rs. 5.6 million, over Rs. 63 million in cash, and $20,606 in foreign currency.

Official documents seen by ProPakistani reveal that the IT Minister has submitted returns revealing assets totaling Rs. 280.97 million. He owns multiple residential and commercial properties valued at Rs. 202.2 million, 400,000 shares of TPL Properties worth Rs. 4.19 million, and 150,000 shares worth Rs. 674,040 in K-Electric.

Dr Saif’s property holdings include a 1 kanal residential plot in DHA Multan, a commercial plot file measuring 4 mala in DHA Lahore, and a residential plot measuring 3.3 marla in Baghbanpura, Lahore. He has also declared a commercial office in Gulberg-III, a commercial plot measuring 200 sq yards in Karachi and a commercial building in Muslim Town, Lahore.

The disclosures extend to the IT Minister’s wife, who owns properties valued at a hefty Rs. 158.4 million. These include a property in DHA Lahore Phase 9 and Phase 11, Naval Anchorage, LDA, and Gulberg Lahore.

The minister has $11,975 invested in business capital outside Pakistan. Other assets include a Mercedes Kompressor and a Toyota Corolla which the minister has declared as gifts.

The IT Minister’s financial disclosure rounds off with cash holdings of Rs. 63.4 million. The minister and his wife also maintain balance in their three bank accounts, with Rs. 1.093 million cash in hand and $20,606 in foreign currency.