ISLAMABAD - In a high-profile corruption case, an accountability court yesterday indicted Finance Minister Ishaq Dar on graft charges after NAB investigators found his assets did not match his reported income.
Appearing before the Accountability Court Islamabad, the minister however pleaded not guilty and vowed to prove his innocence.
Judge Mohammad Bashir, who read out the charges, also rejected Dar’s application for exemption from personal appearance in the court, directing him to be part of the next hearing on October 4.
The court proceedings started late due to security mismanagement at the main entrance of the courts complex, forcing the NAB courts registrar to allow the accused entry through the gate reserved for judges.
During the hearing defence counsel Amjad Pervez furnished Rs5 million surety bonds, required for the bail of the minister as he had earlier been issued bailable arrest warrants over non-appearance.
The judge read out charge-sheet accusing the finance minister of having assets beyond his known sources of income and an abnormal surge in his assets in a short span of time.
Denying the charges, the minister said: “I committed no crime. Charges levelled against me [in NAB reference] are baseless. I shall defend these charges and prove my innocence,” he said.
“My assets are quite within the income limits and I shall prove it,” he added.
The NAB prosecution presented evidence and a list of 16 witnesses against the accused. The hearing was subsequently adjourned until October 4 with the direction to the prosecution to present at least two witnesses before the court on next hearing.
Dar did not speak to the media after the court appearance.
Mess at entrance
Before the proceedings started, there was complete mess on the main entrance of the courts complex, which also houses the NAB courts.
Security officials deputed there were not allowing anyone to enter the premises. Some lawyers and journalists tried to jump-cross the main entrance but their attempts were failed by the security officials, who said they were directed by NAB courts registrar not to allow anyone in.
Amid the exchange of hot words between lawyers and media persons, and security officials, Finance Minister Ishaq Dar arrived there.
He, along with Barrister Zafarullah and State Minister Anusha Rehman, attempted to enter the premises but failed to get in as the way was blocked by the lawyers and journalists who had already gathered outside the main gate in good number.
Dar was asked to go back to his vehicle and later on the permission of NAB Courts registrar, he was allowed entry from the gate reserved for the judges.
Case history
On September 8, the NAB had filed a reference against Dar, and three separate references against ousted prime minister Nawaz Sharif and his children.
In the reference against Dar, the NAB alleged that “the accused has acquired assets and pecuniary interests/resources in his own name and/or in the name of his dependants of an approximate amount of Rs831.678 million.”
The reference alleged that the assets were “disproportionate to his known sources of income for which he could not reasonably account for.”
On Monday last, Accountability Judge Mohammad Bashir handed over a copy of the reference filed by the NAB to Dar’s counsel Amjad Pervez, along with copies of related documents comprising 23 volumes.
The court had rejected a request by Amjad to grant them seven days to peruse the voluminous record, saying that since the Supreme Court had set a six-month deadline, it could not adjourn proceedings for a week.
On Wednesday when the lawyer again raised this issue, the judge told him that since his client had not appeared in the first hearing on Sept 19, this could be taken to mean that he was allowed the seven-day notice period.
Assets freeze
The NAB has written to district governments, asking them to stop any transfer or disposal of the properties owned by Dar, warning that in case of non-compliance, they could face up to three years in prison under the National Accountability Ordinance (NAO) 1999.
On September 18, Lahore NAB also wrote to the State Bank of Pakistan (SBP) to remind them that since a reference was pending against him, “the bank accounts of Dar may be cautioned.”
The bureau, however, left room for transactions from these accounts, as the NAB has made them subject to the orders of the accountability court.
Pressure for resignation
Agencies add: Under Pakistan’s laws, Ishaq Dar can continue to work as a minister until he is found guilty. However, opposition leaders have asked him to resign on moral grounds.
Under new Prime Minister Shahid Khaqan Abbasi, Dar has already been removed from the post of chairing the cabinet’s powerful Economic Coordination Committee.
Dar was credited with steering country’s economy to a sounder footing following a 2013 balance of payments crisis but over the past year those economic gains have begun to erode, according to the International Monetary Fund (IMF) and analysts.
Growth in the $300 billion economy hit 5.3 percent last fiscal year (July-June), the fastest pace in a decade, but foreign currency reserves have dwindled and the 2016-17 current account deficit has more than doubled to $12.1 billion.
Dar’s reluctance to let the rupee weaken to ease current account pressures has courted criticism from economists, who say the PML-N is making economic decisions with one eye on the next general election, likely to be held in mid-2018.
Some analysts have warned Pakistan may need to go back to the IMF for another bailout package if current trends continue.
‘Troubling’ Ties
Ishaq Dar has close familial ties to former Prime Minister Nawaz Sharif, who was disqualified from holding office by the Supreme Court for concealing his financial assets in July.
Dar’s indictment comes a day after the ex-premier made his first appearance before a judge to face corruption cases against him and his children.
Like Dar, Sharif has denied any wrongdoing and has been critical of the judiciary, calling the corruption proceedings against him a conspiracy.
Several senior PML-N figures, including Nawaz Sharif’s daughter Maryam Nawaz, have hinted that country’s powerful military was behind her father’s ouster. The army denies playing any role.
Amid the exchange of hot words between lawyers and media persons, and security officials, Finance Minister Ishaq Dar arrived there.
He, along with Barrister Zafarullah and State Minister Anusha Rehman, attempted to enter the premises but failed to get in as the way was blocked by the lawyers and journalists who had already gathered outside the main gate in good number.
Dar was asked to go back to his vehicle and later on the permission of NAB Courts registrar, he was allowed entry from the gate reserved for the judges.