Over Rs500m transferred from Dar's account to Punjab govt.

The district authorities in Punjab have transferred over Rs500 million from former finance minister Ishaq Dar's accounts to the provincial government, Express News reported.

The move comes on the directives issued by an accountability court in Islamabad ordering authorities to auction movable and immovable assets of the former finance minister and seize his bank accounts. Dar, accused in assets beyond income case, was declared a proclaimed offender after he failed to appear before the court despite repeated summons.

It is pertinent to note that the accountability court had ruled in a petition filed by the National Accountability Bureau (NAB) seeking the sale of Dar's assets and asking the court to appoint a 'receiver' who would collect and deposit the amount in the state treasury.

Court orders auction of Dar's properties

In light of the judgment authored by Judge Mohammad Bashir, Lahore's deputy commissioner had sent notices to banks for the transfer. The district authorities then transferred the amount to Punjab government through three pay order transactions.

Dar's asset details

The details submitted by NAB show ownership of six bank accounts in Lahore and Islamabad, 13 assets within Pakistan and seven assets/companies abroad. According to the list, Dar possesses two Mercedes...