ProPropertyNewsNAB Orders Unfreezing of Dar’s Assets Worth Over 6 Billion

NAB Orders Unfreezing of Dar’s Assets Worth Over 6 Billion

LAHORE: Finance Minister Ishaq Dar’s assets have been ordered to be unfrozen, according to a letter from the National Accountability Bureau (NAB).

The city administration was asked in a letter from the bureau’s Lahore headquarters to unfreeze the finance minister’s assets including 5 bank accounts and one house totaling Rs. 5.58 billion.

As per the details, the administration was asked to allow Ishaq Dar to keep possession of the property at Hajveri House, 7-H, Gulberg-III, along with a Bank Alfalah account having Rs. 508.9 million, and a Habib Bank account having Rs. 0.365 million.

Furthermore, the restoration of 3 other accounts, totaling Rs. 432 in Allied Bank, Rs. 249 in Al Barka Bank, and Rs. 2,000 in Alfalah Bank has also been ordered which were frozen due to Dar’s persistent absence from court appearances.

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It is to note here that the accountability court stated earlier in November that it lacked the authority to take action under the new NAB regulations and returned a reference against the finance minister and others in an assets-beyond-means case.

Besides, Dar had applied to the accountability court to be exonerated in the case, have his assets unfrozen, and be permanently excused from appearing in person at hearings.

It is also relevant to mention that the NAB (Second Amendment) Bill was amended by the current administration shortly after taking office to further restrict the bureau’s mandate.

Additionally, Dar fled the country after being charged and lived in self-exile for 5 years and was designated a criminal.

In September of this year, the ruling was overturned, allowing Dar to return home and take over as finance minister of the country.

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