Ishaq Dar’s Assets Are Being Auctioned On The Orders Of Accountability Court

Ishaq Dar's Assets Are Being Auctioned On The Orders Of Accountability Court

On Tuesday morning, an accountability court in Islamabad ordered the authorities to auction former finance minister Ishaq Dar’s movable and immovable assets and seize his bank accounts.

The decision came on an application filed by the National Accountability Bureau (NAB), seeking auction of Dar’s assets and asking the court to appoint a beneficiary of recovered amount. The court said that the provincial government will be responsible for auction and empowered the provincial government to decide whether to sell or keep the seized assets.

Judge Mohammad Bashir had reserved the verdict on the application on Monday after NAB submitted details of Dar’s assets. The accountability court is hearing corruption reference filed by NAB against Dar, accusing him of accumulating assets beyond known sources of income. The application also stated that more than six months had passed but the accused had consciously refused to appear before the court. NAB’s counsel further claimed that the accused “faked an ailment”. “He has failed to justify his unavailability.”

Asset details as submitted by NAB

The details submitted by NAB show ownership of six bank accounts across banks in Lahore and Islamabad, 13 assets within Pakistan and seven assets/companies abroad.

According to the list, Dar possesses

  • Two Mercedes Benz vehicles
  • Three Land Cruisers
  • One Toyota Corolla
  • Two-kanal plot in Parliament Enclave,
  • Two-kanal plot with Ayaz Builders (PvT) Ltd,
  • Six-acre land in Mauza Milot, (co-owned by his wife)
  • A plot in Mauza Bhubtian
  • A plot in Senate Cooperative Housing Society.
  • A house in Gulberg, Lahore
  • Three plots in Alfalah Housing Society, Lahore – co-owned by his wife and son.

The assets located abroad include

  • Apartments at Emirates Hill
  • Apartment in Jumairah, Dubai.
  • A Bentley Arnage,
  • A Mercedes
  • Two investments in Baraq Holding (Pvt) Ltd
  • One investment in Dar Al Nahayan (Pvt) Ltd.
  • Investment of Rs3,453,060 in Hajveri Holding (Pvt) Ltd
  • Rs2,700 in the Sui Northern Gas Pipelines Ltd.

And with this verdict, Pakistanis are ready to witness another grand auction in the same month.