AC resumes hearing of assets reference against Ishaq Dar

ISLAMABAD (92 News) – The accountability court (AC) today (Wednesday) resumed hearing of assets beyond income reference against former finance minister Ishaq Dar. The AC judge Judge Mohammad Bashir resumed hearing of the reference filed against Ishaq Dar for having assets beyond known means. In today’s proceedings, the court recorded the statement of five prosecution witnesses, while the counsel of former minister Ishaq Dar cross examined the witnesses. The charges against Dar followed an investigation into the finances of former prime minister Nawaz Sharif, who was ousted in July after the Supreme Court disqualified him for not declaring salary from his son’s off-shore company. The finance minister is one of Sharif’s closest political allies and Dar’s son has married Sharif’s daughter. Both men deny any wrongdoing. Dar had resigned from his post amid his legal woes and a worsening economic outlook for Pakistan, which is battling to stave off a balance of payments crisis due to dwindling foreign currency reserve and a widening current account deficit. Dar was initially lauded for steering Pakistan out of a balance of payments crisis in 2013 and returning the nuclear-armed country towards a higher growth trajectory. But over the past year, he has faced criticism for his refusal to allow the rupee to weaken to ease macroeconomic pressures. He has also been accused of eroding the central bank’s independence.