The National Assembly's Standing Committee on Law and Justice on Tuesday asked National Accountability Bureau (NAB) Chairman Javed Iqbal to appear before it and explain why he ordered an inquiry into spurious allegations against Nawaz Sharif concerning money laundering to India.

The NAB chairman has been asked to appear on Wednesday for a committee session to be chaired by PML-N lawmaker Chaudhry Mohammad Ashraf.

Read: The 4.9 billion-dollar blunder

The decision to summon the accountability chief was taken on a point of order submitted by the PML-N's Rana Hayat.

Earlier this month, a press release issued by the bureau had stated that it was looking into allegations that Nawaz laundered money to the tune of $4.9 billion to India.

The announcement had stirred controversy after it was found to be based on a flawed World Bank report.

Prime Minister Shahid Khaqan Abbasi and Nawaz had called for the NAB chairman to either apologise for the blunder or resign.

Iqbal, however, has remained adamant in continuing his work as the bureau's head.

"NAB is not in panic and is not afraid," he had earlier said, brushing aside criticism of its decision.