Ishaq Dar likely to lose ministerial slot

Ishaq Dar likely to lose ministerial slot

ISLAMABAD:An Accountability Court (AC) on Tuesday issued non-bailable arrest warrants against FinanceMinister Ishaq Dar for not appearing despite of repeated summons during the hearing of a reference.

During earlier proceedings, the accountability court judge, Mohammad Bashir, had asked Ahmed Ali Quddusi ─ who appeared in court on Dar's behalf as a pleader ─ when the finance minister may be expected to appear in court.

The court had also upheld the bailable arrest warrants previously issued against Dar and doubled the surety ordered against the warrants from Rs1 million to 2m.

On September 27, the finance minister had been indicted for possessing assets beyond his known sources of income.

The court then briefly adjourned proceedings as the NAB investigation officer had not appeared in court. The NAB prosecutor had told the court that the officer was travelling from Lahore to Islamabad for the hearing and had gotten delayed due to smog.

In response, Qudoosi had stated that Dar, who is presently in London, will fully recover in three to six weeks.

The minister skipped the previous three hearings at the pretext of medical treatment.

Finance Minister Ishaq Dar, once the most powerful men in the Pakistan Muslim League-Nawaz government, is likely to be removed from ministerial slot in the wake of corruption case against him while his role has drastically been curtailed in governmental affairs. The National Accountability Bureau (NAB) had filed a graft reference against the minister for having possessed assets disproportionate to his declared sources of income.

Related:

Comments

Latest news

Extra Space Storage Inc
Texas-based Smith Asset Mgmt L P has invested 1.37% in Hasbro, Inc. (NASDAQ:MYGN) to report earnings on February, 6. (NASDAQ:HAS). Since May 17, 2017, it had 0 insider purchases, and 3 insider sales for $1.71 million activity. (NYSE:EXR) on Wednesday, May 17.

Noteworthy Stocks to Watch For: Rite Aid Corporation (RAD), Macy's, Inc
This particular stock's 5-day moving average is 46.41, its 20-day moving average is 43.53 and its 100-day moving average is 37.42. The value of the investment in Rite Aid Corp went from $569,000 to $381,000 a change of 33.0% for the reporting period.

United States regulators approve first digital pill to track patients
About the size of a grain of salt, the sensor has no battery or antenna and is activated when it gets wet from stomach juices. Psychiatric Products Division director for the Center for Drug Evaluation and Research at the FDA.

Bombardier expects new CSeries orders to be finalized by year's end
The agreement covers the sale of up to 24 of the Canadian company's CSeries jets to Egypt's flagship carrier. The deal is valued at $1.1bn before discounts.

China's Industrial Production Slows in October
Retail sales growth has hovered in the 10% to 11% range for the last two years, in a sign of resilient domestic demand.

Other news