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Finance Minister Ishaq Dar on Monday a sent a legal notice to Bol News demanding an apology and a retraction for "false" and "defamatory" statements made on the show ‘Live with Dr Shahid Masood'.

A notice was also sent to Dr. Shahid Masood, who serves as an anchor on the news channel, under Section 8 of the Defamation Ordinance, 2002, a statement issued by the finance ministry said.

According to the finance ministry, Masood "passed conjecture, libelous and defamatory statements to damage the finance minister’s personality and character" during his Jan 24 programme.

The ministry said that during his show, Masood made "false statements" and "hinted' at a meeting held between the finance minister and the Army's General Headquarters. The finance minister's statement denied that any such meeting took place.

"The story was utterly false and absolutely fictitious," it read.

The finance minister has decided to take legal action against Masood "who is known for fabrication and foul mouthing as well as the TV channel for airing and repeat airing of the said broadcast," the statement said.

The legal notice demands the payment of a sum of Rs1 billion to be paid as damages to the minister "on account of the defamatory broadcast"

Dar has also lodged a complaint with the Pakistan Electronic Media Regulatory Authority and asked the electronic media watchdog to take appropriate action.