Nawaz Sharif was captured heading to a French luxury fashion label Louis Vuitton store on London’s Bond Street after getting out of a Bentley, a brand of British luxury vehicles.
While Pakistan is in deep financial disaster, the country’s former Prime Minister Nawaz Sharif was spotted in London’s luxury shopping district in a luxury sedan. Sharif was captured heading to a French luxury fashion label Louis Vuitton store on London’s Bond Street after getting out of a Bentley, a brand of British luxury vehicles. The video and photographs are now viral on social media.
Watch Nawaz Sharif strolling in London here.
— ANI (@ANI) March 6, 2023
Sharif is a former three-time Prime Minister of Pakistan, even though all three of his terms ended in his ouster. His brother Shehbaz Sharif is the current Pakistan Prime Minister.
Nawaz Sharif is known to be one of the wealthiest politicians in the country with a self-reported net worth of nearly $6.3 million (in current value) in 2017. Most of his reported wealth has come from his family’s Ittefaq Group conglomeration. Sharif was last ousted in 2017 when he had to resign following a corruption probe. While Sharif was convicted and sentenced to seven years in prison along with a hefty fine, he managed to leave the country after coming out of jail on medical bail.
The video of Sharif has attracted widespread criticism from many corners of Pakistan. The country is reeling under an economic crisis. The Pakistani Rupee has fallen 35 percent in value against the US Dollar over the past year. The country has been unable to import key resources, with many economic experts predicting a foreign exchange reserve disaster like that seen in neighbouring Sri Lanka.
Inflation in the country has reached highs of nearly 25 percent even as the country’s interest rates are at their 24-year high at 17 percent. The economic crisis has been blamed on a multitude of reasons including the devastating 2022 monsoon floods in the country, rising costs of key imports like food, medicine and fuel, financial mismanagement and entrenched corruption along with ineffectual governance. While the country may not face a complete fiscal collapse like that seen in Sri Lanka, due to the simple fact that it owes too much money to many important countries like China and Sri Lanka, the economic crisis has caused millions of citizens in the world’s fifth most populated country to suffer.
(Edited by : Sudarsanan Mani)
First Published: Mar 6, 2023 6:16 PM IST