NAB deposits Rs500m from Dar’s accounts into exchequer

E-Paper | July 31, 2026

NAB deposits Rs500m from Dar’s accounts into exchequer

The Newspaper's Staff Reporter Published July 31, 2019

The anti-graft watchdog also initiated a money laundering investigation against the former finance minister Ishaq Dar, who is absconding. — AFP/File

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LAHORE: The National Accountability Bureau (NAB) has deposited Rs500 million into the national exchequer after recovering the amount from seized bank accounts of former finance minister Ishaq Dar, a source said on Tuesday.

The anti-graft watchdog also initiated a money laundering investigation against the former minister, who is absconding.

According to an official, the amount has been recovered from three different accounts of Mr Dar. “On Tuesday the amount (Rs500m) was deposited into the exchequer,” the official told Dawn.

He said the bureau had opened a formal probe against Mr Dar on money laundering allegations. “NAB has received credible evidence against the former finance minister of the PML-N government for laundering money,” he said.

NAB teams search Gulberg and Cavalry Ground offices of PML-N president, his sons

On Saturday, a team of the Lahore city district government took control of a five-kanal house (7-H Hajvery House, Gulberg III) belonging to Mr Dar who is facing a corruption reference in “income beyond means” cases.

Because he is absconding in a corruption reference, all the movable and immovable assets of Mr Dar — the Gulberg house; three plots in Al Falah Housing Society, Lahore; six acres of land in Islamabad; a two-kanal plot in Parliamentarians Enclave, Islamabad; a plot in the Senate Cooperative Housing Society, Islamabad; a plot measuring two kanals and another of nine marlas in Islamabad; and six vehicles — have been attached on the request of NAB.

Mr Dar was declared an absconder by the Supreme Court in 2017 when he failed to appear before it as he was in London, reportedly undergoing medical treatment. Since then he has remained in London.

Meanwhile, the NAB teams conducted search in the Gulberg and Cavalry Ground offices of PML-N president Shahbaz Sharif, his sons Hamza Shahbaz and Suleman on charges of money laundering and possessing assets beyond known sources of income.

NAB reportedly secured evidence against the PML-N leaders from their offices.

PML-N vice president Maryam Nawaz is likely to appear before officials of NAB Lahore on Wednesday (today) in a money laundering case in connection with the affairs of Chaudhry Sugar Mills.

Published in Dawn, July 31st, 2019

Pakistan

Govt takes possession of Dar’s five-kanal house

Agreement reached with British authorities over extradition of Ishaq Dar: Shahzad Akbar

Former Panamagate JIT head Wajid Zia testifies against Ishaq Dar in corruption reference

Asim

Jul 31, 2019 07:52am

Are his assets siezed because he is an absconder or because corruption is proved against him?

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Zak

Jul 31, 2019 07:52am

His buildings in Dubai are worth $1 billion.

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Aslam

Jul 31, 2019 07:53am

Very good news indeed. Hope they arrest Maryam Nawaz today and suprise us all.

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Anonymouseee

Jul 31, 2019 07:56am

Justice is being served finally.

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Omer

Jul 31, 2019 07:56am

They just want him to come back, be a witness against Nawaz Shariff,Shahbaz and Maryam and anyone else they want out of their way, and they will let him go, will leave all his wealth, will forget all his crimes, typical dictatorship tactic.

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Musti Sheikh

Jul 31, 2019 08:06am

This is tip of the iceberg money related to corrupt politician and absconders who emptied the national exchequer for their personal gratification.

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Anti-Corruption

Jul 31, 2019 08:09am

Only a drop in the bucket. Let it keep coming from Dars, Sharifs, Zardaris, Bhuttos, Shahs and so on...This money belongs to poor hardworking citizens of Pakistan

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Qasim Dawood

Jul 31, 2019 08:15am

Holly molly , that’s 50 crore

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Bhaijan

Jul 31, 2019 08:18am

Only peanuts recovered, the big chunks still untraced. Please do more...........

Recommend 0

Jul 31, 2019 08:20am

That amounts to only $3 million. The people would like to know how much expense has the NAB incurred to seize this money? So the people can judge NAB’s performance. In real monetary terms, NAB’s performance seems less than dismal. All of it’s doing so far is nothing more than very expensive entertainment value for the public

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Sami

Jul 31, 2019 08:23am

Excellent step. Well done.

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ilyas khan

Jul 31, 2019 08:27am

the recovery started in bit and peaces. A very positive step. never happened in Pakistan history

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Aussie

Jul 31, 2019 08:32am

From where he got Rs500Million in his bank accounts???

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Dr Farhan

Jul 31, 2019 08:37am

Wow... Rs.500 million, that would roughly equate to USD $50 million. ( Exchange rate taken roughly at the time when he was in Finance minister). How could he amass that amount. Was the govt paying him 10s of million per month to be the finance minister? maybe he has a Qatari letter?inheritance? Or maybe a benefactor? Am wondering if Ms.Safdar still thinks the present govt. Is out to get the PML N ..

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ClingOn

Jul 31, 2019 08:37am

So tell me again how did Mr. Dar collect that much money and property if he was merely an employee of Sharif family a couple decades ago?

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Concerned

Jul 31, 2019 08:49am

Finally... let’s target the bigger fishes now.

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Viq saad

Jul 31, 2019 09:00am

No let up, keep going. One day they will be on streets soon.

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Mahmood Chisti

Jul 31, 2019 09:29am

He has billions of dollars currency and assets stashed away mainly in Dubai his and his masters money and assets he was the money man, IK is trying his best let’s hope he succeeds he has powerful foes.

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Dr. Malek Towghi (Baloch)

Jul 31, 2019 09:37am

Robbery.

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Nizamuddin Ahmad Aali

Jul 31, 2019 09:41am

Far. Y

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JusticE

Jul 31, 2019 09:43am

So it shows absconder in corruption case is far more higher crime than absconder in treason case because I am yet to see any action against the former Military dictator.

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Ahmed Khalid

Jul 31, 2019 09:48am

PM Imran's federal government is lagging behind in forensic evidences. They are doing tits and bits kind of things to gain popularity. Ishaq (Former Finance Ministry), is so rich that he can acquire the citizenship of any country. Then what they will do? PM Imran's administration need to work hard on the grounds not just to focus on the headlines. Provide some tuition to NAB from CBI (India) which would be cost-effective or if the exchequer has money provide them tuition from US Treasury Intelligence wing.

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ZAK

Jul 31, 2019 09:49am

Wheres the huge amount NAB?

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Eagle eyes

Jul 31, 2019 10:00am

The amount recovered was equivalent to USD 5 mn at the time of the corrupt PM. Now under the honest PM, it is worth USD 3 mn. Good going.

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Mansur Ul Haque

Jul 31, 2019 10:10am

Very good. Sell his properties and deposit money in National kitty. We have not hope and are confident that other absconders who are very powerful in one day will be brought to Justice. At present we are scared to name them.

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Akram

Jul 31, 2019 10:24am

All who are questioning how dar made 500m, What do you all who say about following The assets of Pakistan Tehreek-e-Insaf (PTI) were valued over Rs. 1.4 billion. In 2012, his assets were valued at 22.9 millions with liabilities worth Rs. 0.38m

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SkyHawk

Jul 31, 2019 10:28am

Well done NAB. These corrupt and criminal big fishes of PMLN looted Pakistan as if there was no tomorrow. I hope the same will happen with the other big criminals like Zardari, Nawaz sharif, Maryam Nawaz. Please freeze their bank accounts as well, confiscate their illegal assets and properties in and outside of Pakistan, put them behind bars forever and ban them from politics for plundering the national wealth and recover the looted money plus deposit this money into Qaumi Khazana.

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Pakistani

Jul 31, 2019 10:30am

NAB being an autonomous body was sleeping during the tenure of PPP and PML-N. Why has not anyone from NAB being investigated for gross negligence?????

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Verbose

Jul 31, 2019 10:30am

I just did the conversion for 500 Million PKR to USD and found out the exchequer just got a pittance in their pockets!

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Ahmad

Jul 31, 2019 10:36am

@Asim, You are trying too hard. He had his chance to defend himself but i'm sure he cant provide a money trail just like NS.

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A Pakistani

Jul 31, 2019 10:39am

Imagine a man who is on the run from the law, who is in a foreign country because he fears investigation and subsequent arrest by his country's anti-graft authorities, imagine a man from whose accounts Rs. 500,000,000 were transferred to Govt. account(s). Imagine this man who has been laundering illegal money for himself and the former Prime Minister of his country. Now imagine this man ... was the Finance Minister of his country, the very person responsible for the national treasury. These are the people who've seeped Pakistan dry of her blood, whose actions have held Pakistan back from achieving her true form in the world. These people don't deserve mercy, these people are the culprits of Pakistan and her 200,000,000+ population. These people should pay for their crimes, even if it's alleged for now.

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G H A L I B J E E E

Jul 31, 2019 10:48am

Peanuts, for him.

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WARRIs

Jul 31, 2019 11:03am

500 million is just the tip of the iceberg considering the level of corruption committed by Ishaq Dar as guardian of our wealth.. NAB needs to “do more” to recover more corruption money from Dar.

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WARRIs

Jul 31, 2019 11:05am

@Omer, this is not dictatorship... this is strictly applying the laws to catch the top culprits!!

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Careless Whispers

Jul 31, 2019 11:06am

What about aleem khan, swati, babr swan, ch of Gujrat, I see a one way traffic here

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Adnan Mazher Khan

Jul 31, 2019 11:12am

@Asim, How one can earn more than Rs. 500 M in Pakistan without corruption. And, this is just one bank account.

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Karachi

Jul 31, 2019 11:17am

@Asim, Absconder like IK in some cases and as like Musharraf in the high treason case.

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sabeeh ahmad

Jul 31, 2019 11:29am

This is called true accountability...

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Well Wisher

Jul 31, 2019 11:34am

@Dr Farhan, more near to 3.12 million USD considering 1USD = 160 PKR. Still a big amount by any measure, and this is just a tip of the iceberg.

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Bilal Khan

Jul 31, 2019 11:48am

500 million is like 500 rupees for him.

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Hasnain Khan

Jul 31, 2019 11:52am

So sick to see all the apologists here in the comments. Shows that we still have learned nothing and maybe never will.

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Mahmood

Jul 31, 2019 11:57am

A small change, compared to perhaps $5 billion he stole for himself or assisted his cronies, friends and family to siphon off from foreign loans, deals, contracts, or faciltated the Sharif family to shift to their offshore accounts, through fiddling, cooking the books, fake invoices and shell companies. We are looking at perhaps 0.001% of what he may have made off with!

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Mahmood

Jul 31, 2019 11:59am

@Asim, Under the circumstances, does it matter? Even if a case is brought against him in a court of law, if neither he nor his counsel appears to defend him, wouldn't the prosecutor (the government) win by default, with the tiniest evidence available to prove his guilt??

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NKAli

Jul 31, 2019 11:59am

@Asim: Sir, your question surprises me. FYI "CORRUPTION!" Salams

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riz

Jul 31, 2019 12:17pm

@Asim, "Are his assets siezed because he is an absconder or because corruption is proved against him?" He is absconding from the court of law that's mean there is something fishy

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AZulfi

Jul 31, 2019 12:17pm

@Omer, How do you know? Do you have some inside knowledge? give credit where it is due rather than always doubting and criticising people. Well done NAB...finally doing what is meant to be doing

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Zeeshan Ahmed Khan

Jul 31, 2019 12:27pm

Recovery only possible in PTI government. Otherwise PPP and PMLN playing drama from last 10 year in the name of democracy. PAKISTAN WILL PROGRESS WITHOUT. I DON'T MIND COMPLETELY BAN THOSE PARTIES WHO RUINED COUNTRY WITH BOTH HANDS. WHITE COLLAR CRIMINAL LIKE PPP and PMLN is difficult to find proof. But bravo to PTI commitment to doing so.

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Syed Hani

Jul 31, 2019 12:30pm

Good going NAB

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irfan

Jul 31, 2019 12:32pm

@Zak, what else he needs now after having US$ 1 billion

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Imran

Jul 31, 2019 01:11pm

Well done .

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Jimmy

Jul 31, 2019 01:23pm

How can he afford to live in London and what is his source of income to live this expensive lifestyle.

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Jigar

Jul 31, 2019 01:24pm

@Asim, because we the nation are paying for his sins.

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The Truth Spy

Jul 31, 2019 01:48pm

i saw by my own eyes his 60 story building in Dubai

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Parvez

Jul 31, 2019 02:34pm

" He is an absconder " ..... it looks highly unlikely that he will return. Those who helped him run ( and it it no secret who they are ) should be held accountable.

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Shahid Kamal

Jul 31, 2019 02:37pm

At last, the people of Pakistan have got a long awaited news of some recovery from a person who is part of the elite group who has looted this country mercilessly. One question is yet to be answered as to how and who helped him to run away from the country after attending an overseas meeting. Helping criminals is itself a serious crime. Partial accountibility will give suspicion to the fact weather this country is really heading towards a welfare state like Madinah.

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AHMED 40

Jul 31, 2019 03:15pm

If NAB is truly independent it should investigate DHA and how is it that property owned by generals becomes most expensive in Pakistan unlike any other country in the world

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khabboo

Jul 31, 2019 03:19pm

Asim about 7 hours ago Are his assets siezed because he is an absconder or because corruption is proved against him?. IF he doesn't want to appear before the courts then sieze it all. In exile for a reason?? “NAB has received credible evidence against the former finance minister of the PML-N government for laundering money,”

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khabboo

Jul 31, 2019 03:27pm

Omer about 7 hours ago They just want him to come back, be a witness against Nawaz Shariff,Shahbaz and Maryam and anyone else they want out of their way, and they will let him go, will leave all his wealth, will forget all his crimes, typical dictatorship tactic If "they" want Maryam and co out of the way", i think "they" can do it pretty easily. Why would they let him go. put him away along with the Sharifs if NAB have all the proof.

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Jamshed

Jul 31, 2019 03:38pm

This is loose coins for Ishaq Dar. His sons have apartment buildings in UAE built from Ishaq Dars ill-gotten wealth from which they generate untold income. The PMLN have plundered the country and have crippled it beyond repair.

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Saad

Jul 31, 2019 03:40pm

Why to Punjab or any provincial Government, all the looted money belongs to Federal Government, it must go to National Bank of Pakistan.

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Jamil

Jul 31, 2019 03:43pm

Can you please also seize Parvaiz Mush's properties as well - a big farm house in Islamabad?

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Haseeb

Jul 31, 2019 04:17pm

Are you talking about that NAB who runs on videos?

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Ranjha

Jul 31, 2019 04:20pm

@Asim, Does it matter? He is a crook in both instances!

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hassan

Jul 31, 2019 04:23pm

@Zak, How do you know this? Where is the evidence? Even if they are worth X number of dollars, GoP has no control over it.

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hassan

Jul 31, 2019 04:25pm

@AW, Rubbish ! You want things to go on as before?

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Dr. Salaria, Aamir Ahmad

Jul 31, 2019 04:33pm

Too little, too late.

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Qazi

Jul 31, 2019 04:41pm

@Asim, Both

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Qazi

Jul 31, 2019 04:45pm

@Omer, Please learn to appreciate good deeds of others and show some repulsion for the crimes of corrupt mafia. After all corrupt mafia has sabotaged the future of our next generations.

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Qazi

Jul 31, 2019 04:47pm

@Pakistani, Agreed completely. previous NAB chairman should be investigated for gross negligence and should account for all these corrupt practices.

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LAHORI KID

Jul 31, 2019 04:59pm

I bet you can sell the properties and get twice that amount, but how can the government put the money in the government’s accounts? Far still has to be convicted before you start planning for his money.

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white noise

Jul 31, 2019 05:18pm

They should look at his UAE portfolio, after all he was their economic adviser for years.

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M. Siddique

Jul 31, 2019 05:20pm

Rs500m is a drop in the bucket of what he has looted. Billions of DOLLARS have been misappropriated.

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Jimmy Narielwalla

Jul 31, 2019 05:27pm

Good Work, sell off his house in Lahore and Target his property in Dubai as well.

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Abdullah

Jul 31, 2019 06:38pm

Finally, for the first time in the history of Pakistan looted money is put back in Pakistan's treasury. This is proof, we need to give this government more time. We must support them for the full 5 year term completion.

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Naveed Anwar

Jul 31, 2019 11:57pm

@Asim, both.

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Naveed Anwar

Aug 01, 2019 12:02am

@Omer, Not the case. You know it as well. You are so used to the corrupt culture now that you have started to doubt the actual attributes of good society with morals. When you are being asked to be ethical & responsible then you call them dictators. The accountability is must in any society. You welcome it or not but we are going through cultural cleansing.

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Obaid

Aug 01, 2019 02:13pm

@Akram, umm Imran Khan was one of the greatest cricket player who made millions playing cricketand doing endorsements. Thats how he has the money that he has.

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Rashid Khan the Afghan

Aug 01, 2019 07:25pm

I wonder if Ishaq Dar has convinced the UK Home Office (Ms Preeti Patel and formerly Sajid Javed - Home Secretaries) that this political vendetta on the part of PTI? Mr Dar obviously was / is a dual national and has the right to remain in the UK unless Pakistan seeks his extradition on a solid case of money launderings and embezzlement of Government funds. Now, this is where allowing overseas Pakistanis with dual nationalities run for office in parliament or assemblies hits the buffers. They can do and Ishaq Dar. Only Pakistan nationals with no other nationality should be allowed to hold office in politics, government and security services.

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