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Saturday, January 28, 2023
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FM Ishaq Dar gets his financial assets back

The Lahore administration returned the property of Hajveri House, 7-H, Gulberg-III to finance minister Ishaq Dar. Moreover, a letter has also been sent to the four banks to restore his Rs5.58 billion worth of accounts.

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In a major development, the district administration of Lahore unfroze Finance Minister Ishaq Dar’s assets after an accountability court closed assets beyond known sources of income case against him.

According to the details, the Lahore administration returned the property of Hajveri House, 7-H, Gulberg-III to finance minister Ishaq Dar. Moreover, a letter has also been sent to the four banks to restore his Rs5.58 billion worth of accounts.

Read more: NAB amendment: Court closes assets beyond means case against Ishaq Dar

The move came after the National Accountability Bureau (NAB) Lahore issued a dispatch to the district administration to unfreeze Federal Minister for Finance Ishaq Dar’s assets.

“Pakistan drowning in debt and those responsible for this disaster are getting relief after relief in corruption cases! As I said before, we are living in Kingdom Sharif where stolen wealth is above the law!” PTI leader Ali Haider Zaidi said while reacting to the news of Ishaq Dar’s assets being returned to him.

Ishaq Dar gets relief

Last month, an accountability court closed assets beyond known sources of income case against PML-N leader and Finance Minister Ishaq Dar. The case was filed by the National Accountability Bureau in December 2017 against Finance Minister Ishaq Dar, accusing him of possessing assets disproportionate to his declared sources of income.

AC Judge Muhammad Bashir while announcing the reserved verdict said they cannot hear the assets case against Ishaq Dar and other accused after the recent amendments in the National Accountability Bureau law.

The court also noted that since the case does not fall under its ambit, it does not have the authority to issue an on the acquittal plea that Ishaq Dar had filed.

Earlier, the National Assembly passed the National Accountability (Second Amendment) Act, 2022 with a majority vote, amending the National Accountability Ordinance, 1999 (NAO).

Read more: Maryam Nawaz made a deal for Ishaq Dar’s return?

Under the new amendments, the offense of corruption and corrupt practices as per the National Accountability Ordinance (NAO), 1999, will be tied to the value of Rs500m. To clarify, NAB will have no jurisdiction to proceed in corruption cases involving less than Rs500 million.

The bill also strips the president of his authority to appoint judges of accountability courts in consultation with high court chief justices. As a result, courts across the country have returned cases.