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Non-bailable arrest warrants issued against Pakistan Finance Minister

14 November 2017

The accountability court in Islamabad issued non-bailable arrest warrants against Finance Minister Ishaq Dar in corruption reference filed by the National Accountability Bureau.

The warrant comes at an awkward time for Pakistan, which wants to raise in excess of $1 billion on global debt markets through a Sukuk and a Eurobond in coming months and has been trying to woo worldwide investors.

The hearing was then adjourned until November 21.

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On November 8, Accountability Court issued a warning to Dar's surety-giver, saying that the court will confiscate surety bonds worth Rs 5 million if he fails to appear before the court on November 14 (today).

Dar has not attended the previous three hearings in relation to his ongoing medical treatment in London.

The sources informed The Nation that over the past few weeks, Prime Minister Abbasi was taking up the case of Finance Minister Ishaq Dar with former premier Nawaz Sharif as due to his absence the work of the finance ministry was adversely affected; at the same time the overall reputation of the government was also tainted.

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

The court had also separated the matter of Hassan and Hussain Nawaz from other members of Sharif family in three references filed by NAB in compliance of SC orders in Panama papers case. Both men deny any wrongdoing. Hence, he will face arrest upon his return to Pakistan.

But over the past year, he has faced criticism for his refusal to allow the rupee to weaken to ease macroeconomic pressures.

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Non-bailable arrest warrants issued against Pakistan Finance Minister