Ishaq Dar to be indicted on Sep 27 in NAB reference

ISLAMABAD: After arriving in Pakistan from London, Finance Minister Ishaq Dar appeared before the accountability court in Islamabad on Monday morning in a NAB reference pertaining to possessing assets beyond his known sources of income.

On the occasion, a heavy contingent of police were deployed around the court while media representatives were barred from entering the court premises.

During the case proceeding, copies of NAB references were provided to the minister and the case hearing was adjourned till September 27 after Dar submitted surety bond worth one million rupees. He is likely to be indicted in the next hearing.

Dar arrived in Islamabad five days after the accountability court issued bailable arrest warrants following his failure to show up during proceedings in NAB references. The concerned authorities were ordered to present Dar before the court on September 25.

The court had also warned that non-bailable arrest warrants will be issued, if the minister failed to appear before the court.

On September 8, NAB had filed four corruption references against former prime minister Nawaz Sharif, his three children and Finance Minister Ishaq Dar in compliance with the Supreme Court order in the Panama Papers case.

The reference against Ishaq Dar was submitted for possessing assets beyond his known sources of income.

The Panama joint investigation team (JIT) had reported unforeseen surge of 91 times from Rs9.11 million to Rs831.70 million in Ishaq Dar’s assets during years 2008, 2009 and existence of contradiction in the income earned and assets declared. Likewise, the report also pointed out conflict in Dar’s record submitted before Federal Board of Revenue (FBR) and his financial statements.

Nawaz Sharif was ousted in July after the Supreme Court deemed him unfit to hold office for not declaring a small source of income, and ordered the National Accountability Bureau (NAB), to launch a criminal investigation into him, his family and Dar.