RAWALPINDI, Jan 30: An accountability court acquitted Navid Qamar, former finance minister and chairman of the Privatization Commission, of all the charges here on Wednesday.

The judge AC No.1, Rustam Ali Malik, however, awarded three-year sentence to Shahid Islam, co-accused, after declaring him proclaimed offender in the said case.

Qamar was facing the corruption reference for his alleged involvement in corruption while serving as Chairman, Privatization Commission during Benazir Bhutto government (1993-96).

The prosecution had alleged that the privatization of Ittehad Chemicals Limited, which was authorised by the accused, caused huge losses to the public exchequer.—APP