Asset Reference: Court adjourns hearing against Dar till tomorrow

ISLAMABAD (92 News) – An accountability court (AC) on Tuesday adjourned the hearing of asset beyond income supplementary reference against former finance minister Ishaq Dar filed by the National Accountability Bureau (NAB) in line with the Supreme Court directive in the Panamagate case. The accountability court (AC) judge Muhammad Bashir resumes hearing of the supplementary asset beyond income reference against the federal minister. During the proceedings, three co-accused appeared before the court on Tuesday. The court could not indict the accused in the case and adjourned the hearing till tomorrow. In the previous hearing, the court had dismissed the plea of National Bank president Saeed Ahmad, co accused in supplementary asset beyond income reference against former finance minister Ishaq Dar. Previously, 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. He 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.