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pakistan
Tuesday Oct 02 2018
By
Web Desk

Court orders auction of Ishaq Dar's assets

By
Web Desk

ISLAMABAD: An accountability court on Tuesday ordered the auction of former finance minister Ishaq Dar's assets and confiscating his bank accounts in Pakistan.

Accountability court judge Muhammad Bashir accepted the National Accountability Bureau's (NAB) plea to auction Dar's assets in the country. A day earlier, Judge Bashir had reserved his verdict on the NAB plea. 

Announcing the verdict, the accountability court judge handed the Punjab government the authority to seize the former finance minister's assets and bank accounts and auction them.

On September 27, NAB had filed the petition after the Pakistan Muslim League-Nawaz (PML-N) leader went to London for medical treatment and continues to abscond in corruption cases against him in the accountability court.

Last week, NAB had submitted details of Dar's assets that have been seized before the accountability court.

Assets within Pakistan

  • House in Gulberg, Lahore
  • Three plots owned in Al-Falah Housing Society in Lahore by Dar, wife and son.
  • Dar’s wife owns a plot in Mauza Bhubtiam
  • Six acres of land owned in Mauza Milot, Islamabad by Dar and wife.
  • Two kanal plot in Islamabad’s Parliamentarian Enclave
  • Two kanal plot with Ayaz Builders (Pvt) Ltd.
  • Plots at Senate Cooperative Housing Society in Islamabad
  • Three Land Cruisers, two Mercedes Benz and one Corolla owned by Dar and wife.
  • Dar, wife have invested Rs3,453,060 in Hajveri Holding private limited
  • Dar has invested Rs2,700 in Sui Northern Gas Pipeline 

NAB also informed the court that the former finance minister is a shareholder in three companies based in Dubai along with owning a Mercedes and three flats.  

The case

The former finance minister is accused of possessing assets disproportionate to his declared sources of income.

A reference against the former finance minister was filed by NAB in light of the Supreme Court's July 28 verdict in the Panama Papers case.

Dar had earlier been declared a proclaimed offender by the accountability court due to his continuous absence from the proceedings.

In November 2017, then-prime minister Shahid Khaqan Abbasi had accepted Dar’s request to be relieved of his duties as the finance minister. 

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