ISLAMABAD, Nov 21: The Supreme Court on Wednesday granted bail to Saif-ur-Rahman on the grounds that the Conciliation Committee had approved procedure for repayment.

Recommendations of the committee were sent to the State Bank governor, who approved them. The chairman, NAB, also okayed the mode of repayment. The matter will eventually be referred back to the accountability court.”

The committee, formed under the NAB Ordinance, had determined the outstanding liabilities to be Rs 976.242 million.

Based on the recommendations of the committee, counsel for the accused handed over Rs 60 million as part of down payment.

In addition to this, the accused had deposited Rs90 million last year.

The repayment will continue, in instalments, for the next six months. The payment of the principal amount of Rs528 million will be made in seven years and will carry a mark-up at the rate of 14 per cent, starting from today.