Court gives Punjab govt authority to auction off Dar's assets

An accountability court on Tuesday handed the Punjab government the authority to either auction off or keep in its possession the assets of absconding former finance minister Ishaq Dar in a case pertaining to possession of assets beyond his known sources of income.

The National Accountability Bureau (NAB) had earlier moved the accountability court for the auction of movable and immovable properties owned by Dar as he has been in London since Oct 2017. He was declared an absconder by the court in Dec 2017 after he failed to join the trial against himself.

Following the filing of the reference against Dar in the accountability court last September, NAB had seized all of his movable and immovable assets. These included a house in Gulberg III, Lahore; three plots in the Al-Falah Housing Society, Lahore; six acres of land in Islamabad; a two-kanal plot in the Parliamentarians Enclave, Islamabad; a plot in the Senate Cooperative Housing Society, Islamabad; another plot measuring two kanals and nine marlas in Islamabad; and six vehicles.

NAB alleged that Dar acquired in his name and/or in the names of his dependants assets worth Rs831.7 million, which is disproportionate to the known sources of his income.

Accountability court Judge Mohammad Bashir had earlier reserved his verdict on the NAB request and today ordered a compliance report regarding the seizure of three plots in Al-Falah Society and vehicles belonging to Dar.

The court remarked that action against Dar's assets abroad would also be deliberated on the basis of the law.

NAB presented in court today details of Dar's assets, according to which three bank accounts in Pakistan are under his name, while three are held by the trust, Hajveri Holdings Pvt Ltd.