‘SAPM Nadeem Babar has investments in Petroleum Division’

ISLAMABAD – Special Assistant to the Prime Minister on Petroleum Division Nadeem Babar has made investments in the subsidiaries of the Petroleum Division.

According to details released by the Cabinet Division, the special assistant has invested in Sui Northern, Sui Southern. He has also invested in Oil and Gas Development Company Limited (OGDL) and Pakistan Petroleum Limited (PPL).

Babar also owns 500 shares in Pakistan State Oil (PSO) and OGDC. He has also bought shares in Sui Northern and Sui Southern and also owns 500 shares in PPL.

The special assistant has invested in Orient Power, Phoenix, NYT Energy and has business in Orson Power, Saba Power, Future Energy Partners.

He has a turnover of Rs 950 million in Orient Power Company and Rs 133 million in Orson Solar Power.

It is worth mentioning here that Babar has declared assets of more than Rs2.75 billion and also holds US citizenship. He has businesses in Pakistan and abroad.

The SAPM on Petroleum Division with the status of Minister of State Nadeem Babar has immovable property worth Rs129,764,250, a house in Houston, USA, total business capital of Rs2,153,119,451 in Pakistan, business capital of Rs137,790,063 outside Pakistan, Rs297,418,610 cash and bank accounts, prize bonds, and saving accounts having Rs166,196,807 among other things; making the grand total assets worth Rs2,752,812,874.

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