–Court orders auction of former finance minister’s movable, immovable assets for repeatedly ignoring summons
ISLAMABAD: District authorities in Punjab have transferred over Rs500 million from former finance minister Ishaq Dar’s bank accounts to the provincial government following directives issued by an accountability court in Islamabad.
The court ordered authorities to auction movable and immovable assets of the former finance minister and seize his bank accounts. Dar was declared a proclaimed offender after he failed to appear before the court despite repeated summoning requests.
The accountability court had previously ruled in a petition filed by the National Accountability Bureau (NAB) seeking the sale of Dar’s assets and asking the court to appoint a ‘receiver’ to collect and deposit the amount in the state treasury.
The details submitted by NAB show ownership of six bank accounts in Lahore and Islamabad, 13 assets within Pakistan and seven assets/companies abroad.
According to the list, Dar possesses two Mercedes Benz vehicles, three Land Cruisers and one Toyota Corolla.
His wife is the co-owner of one of the Land Cruisers. His properties include a two-kanal plot in the Parliament Enclave, another two-kanal plot with Ayaz Builders (Pvt) Ltd, six-acre land in Mauza Milot (with his wife as the co-owner), a plot in Mauza Bhubtian and another plot in Senate Cooperative Housing Society.
In Lahore, Dar owns a house in Gulberg and three plots in Alfalah Housing Society – co-owned by his wife and son. The assets located abroad include apartments at Emirates Hill and Jumeirah in Dubai. He also owns a Bentley Arnage, a Mercedes and has two investments in Baraq Holding (Pvt) Ltd and one investment in Dar-al-Nahayan (Pvt) Ltd.
The details further show Dar and his wife have made investments of Rs3,453,060 in Hajveri Holding (Pvt) Ltd and Rs2,700 in the Sui Northern Gas Pipelines Ltd (SNGPL).
Earlier, on November 15, Rs360 million was transferred from Dar’s bank account to the Government of Punjab. An accountability court in October had ordered the auction of Ishaq Dar’s assets and confiscated his bank accounts in Pakistan on a plea by the National Accountability Bureau (NAB).
NAB had tightened the noose around Ishaq Dar in October and had prepared another case regarding circular debts. The anti-corruption body sought details of the payment of Rs480 billion paid during the Nawaz Sharif tenure, however, the power division had been reluctant in providing details over the payment of circular debt.
BACKGROUND:
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.
In its reference, NAB had alleged that “the accused has acquired assets and pecuniary interests/resources in his own name and/or in the name of his dependents of an approximate amount of Rs831.678 million”.
The reference alleged that the assets were “disproportionate to his known sources of income for which he could not reasonably account for”.
Dar, a former senator, has been in London since October 2017 on account of his medical treatment. Moreover, a reference against the former finance minister was filed by the 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.
