Tag: National Accountability Bureau

  • Anti-corruption victory: NAB recovers Rs2.3 trillion, saves $10 billion

    Anti-corruption victory: NAB recovers Rs2.3 trillion, saves $10 billion

    National Accountability Bureau (NAB) Chairman Lt Gen (retd) Nazir Ahmed announced a significant achievement, revealing that the bureau has successfully recovered an impressive amount of Rs2.3 trillion and saved over $10 billion in savings for the national exchequer. 

    Speaking at an event, he highlighted the necessity of collective efforts in combating corruption, emphasising that every instance of corruption should face consequences.

    Chairman Nazir Ahmed underscored the importance of collaboration among all stakeholders, stating that the eradication of corruption is a shared responsibility that no single institution can accomplish alone. 

    He reiterated NAB’s commitment to fulfilling obligations outlined in the United Nations Convention against Corruption (UNCAC), emphasising that documenting the economy is a crucial step in reducing corruption.

    Prominent economist Dr Ashfaque Hasan Khan and UNODC Pakistan’s Country Representative, Jermey Milsom, attended the event as guest speakers. 

    Dr Khan, in his keynote speech, emphasised the citizen’s responsibility to register in the taxation system for access to state welfare benefits.

    He highlighted the plight of individuals in the informal/unregistered economy facing poverty due to limited access to banking incentives, proposing a restructuring of the tax system to provide incentives rather than relying solely on punitive measures.

  • President allows NAB to secure 30-day physical remand of suspects, night before Imran Khan’s NAB appearance

    President allows NAB to secure 30-day physical remand of suspects, night before Imran Khan’s NAB appearance

    Acting president and Senate Chairman Sadiq Sanjrani on Monday night signed the National Accountability Bureau (NA) Amendment Ordinance 2023, which allows the accountability watchdog to secure a 30-day physical remand of a suspect, as opposed to the existing duration of 14 days

    After the revisions, the NAB chairman has been given authority to issue arrest warrants for individuals implicated in cases where cooperation during the investigation is insufficient.

    Sanjrani has signed the ordinance upon the request of Prime Minister (PM) Shehbaz Sharif, “The prime minister’s advice at para 6 of the summary is approved. The National Accountability (Amendment) Ordinance, 2023, is signed and promulgated.”

    It is pertinent to mention here that NAB Rawalpindi has summoned Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan, and his wife, Bushra Bibi today (Tuesday), regarding two lseparate cases.

    Imran Khan will be appearing in the Toshakhana case, while Bushra Bibi has been summoned in relation to a £190 million National Crime Agency (NCA) UK settlement case.

  • Intraday update: Pakistani rupee plunges to historic low of Rs290 against dollar amid political turmoil

    Intraday update: Pakistani rupee plunges to historic low of Rs290 against dollar amid political turmoil

    On Wednesday, the Pakistani rupee (PKR) reached a historic low against the US dollar, falling to Rs290 during intraday trading at the interbank foreign exchange market. This decline is a major setback to Pakistan’s economy, as the rupee lost Rs5.16 in a single day compared to the previous day’s closing rate of Rs284.84.

    The previous record low of Rs288.43 was set in April. The sharp decline in the Pakistani rupee raises concerns about the country’s financial stability, and several factors have contributed to this depreciation.

    The arrest of former Prime Minister Imran Khan on corruption charges has led to increased uncertainty and added pressure on the Pakistani rupee. This political turmoil has negatively impacted investor confidence and the value of the local currency.

    Furthermore, the uncertain status of the International Monetary Fund (IMF) loan programme has further exacerbated the decline of the Pakistani rupee. Although the government had anticipated an installment of $1.2 billion under the Extended Fund Facility (EFF) program, delays in loan disbursement and recent developments in negotiations have raised concerns about Pakistan’s ability to meet its financial obligations. These doubts have put additional strain on the rupee’s value.

    Currency experts are closely monitoring these developments and expressing caution about the future outlook of the Pakistani rupee. The government must take decisive measures to stabilize the currency and restore investor confidence. This may involve implementing effective economic policies, addressing corruption concerns, and ensuring a more transparent and predictable investment environment.

    It is crucial for the Pakistani government to engage in constructive dialogue with the IMF to secure the much-needed loan program. Demonstrating a commitment to fiscal discipline, structural reforms, and good governance can potentially alleviate concerns surrounding the economy and enhance the rupee’s value in the international market.

    While the situation appears challenging, it is important to note that currency fluctuations are not unique to Pakistan. Several emerging economies have faced similar issues in recent years. The government’s response and its ability to address the underlying causes of the rupee’s depreciation will be critical.

  • NAB chief to draw Rs1.7 million salary, gets govt residence, two cars

    NAB chief to draw Rs1.7 million salary, gets govt residence, two cars

    The federal cabinet has approved the salary package, perquisites and benefits of Lt. General (R) Nazir Ahmad Butt as Chairman, National Accountability Bureau (NAB).

    According to news reports, after obtaining the cabinet’s approval, Chairman NAB will get Rs17 lacs monthly as a salary, a government residence and two vehicles. At the same time, he will also get a plot of two kanals in the federal capital. NAB chairman will further get 2000 units of electricity per month and 600 litres of petrol each month.

    The Ministry of Law and Justice, after obtaining approval and authorisation from the Minister of Law and Justice, solicited the approval of the federal cabinet through the circulation of the summary for determination of terms and conditions of the Chairman NAB as admissible to a judge of a Supreme Court of Pakistan.

    It is pertinent to mention here that Lt. General (R) Nazir Ahmad was appointed as Chairman NAB by Ministry of Law and Justice on March 6 and had assumed charge on the same day.

  • IHC grants 14-day protective bail to PM’s son Suleman Shehbaz

    IHC grants 14-day protective bail to PM’s son Suleman Shehbaz

    The Islamabad High Court (IHC) on Tuesday granted protective bail to Prime Minister (PM) Shehbaz Sharif’s son Suleman for 14 days in a money laundering case registered against him by the Federal Investigation Agency (FIA).

    Last week, the IHC had barred authorities from arresting Suleman in the assets-beyond-means reference while hearing his petition for protective bail that would enable him to surrender before a trial court.

    Earlier today, Suleman appeared before a single-member bench of IHC Chief Justice Aamer Farooq for bail in the money laundering case.

    Amjad Pervez, Suleman’s lawyer, told the IHC CJ that his client has to appear before a special judge central in Lahore.

    After this, Justice Farooq granted protective bail to the PM’s son and directed him to appear before the relevant court within 14 days.

    Addressing the media after the hearing, Suleman addressing Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan, said, “The time of accountability is here; we will not spare him. We will not give him any space now; he will be punished.”

    Asked about Farah Khan, a friend of Imran Khan’s wife who allegedly sold the watches gifted to Khan, Suleman wondered why did she run away from Pakistan.

    “You are crying that Farah Gogi is not a public office holder. I was not a public office holder either,” said Suleman. He added that PTI chairman, while he was in power, did not even think about women and instantly arrested them.

    “You had the power, you could have proven the cases,” said Suleman.

    The PM’s son also slammed former National Accountability Bureau (NAB) chairman Javed Iqbal, saying that he was a “black stain” on the accountability system.

  • Bushra Bibi’s closest friend’s case dropped by Anti Corruption Establishment Punjab

    Bushra Bibi’s closest friend’s case dropped by Anti Corruption Establishment Punjab

    The Anti-Corruption Establishment (ACE), Punjab, has dropped a corruption case against Farah Khan, a close friend of Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan’s wife, Bushra Bibi, reports Geo News.

    Farah was accused of getting a 10-acre plot allotted in the Faisalabad Special Economic Zone for only Rs83 million when its actual worth was Rs600 million. A prerequisite was in place for any company interested in buying the plot to have a minimum valuation of Rs. 2 billion.

    The Additional Chief Secretary of the Home Department issued the order to dismiss the case after former Director-General of ACE l, Rai Manzoor Nasir, declared Farah innocent in the investigation.

    In May, Imran Khan said that the cases against Farah were “totally wrong.”

    “She [Farah] has been in the real estate business for 20 years,” said Imran Khan.

    “It was implied that Farah’s riches grew exponentially during three years […] real estate business has generated a lot of money during the last three years,” he explained.

    “They say that the National Accountability Bureau (NAB) is independent. First of all, I ask NAB, can a case even be built against Farah Khan or not?” Imran questioned.

    He said that the term “wealth beyond known sources of income” applies to public office holders only.

    In June it was reported that Farah Khan and her husband Ahsan Jameel Gujjar were treated as residents of Imran Khan’s house in Bani Gala, which was declared the official PM House during his tenure.

    The records for 44 months showed that Farah alias Gogi and Gujjar’s visits to Bani Gala were not recorded in the registers maintained by the Islamabad Capital Territory (ICT) Special Branch. The Special Branch of Islamabad Police controls the entry and exit points of PM House as part of the security provided to the PM.

  • ‘Establishment is a political player in Pakistan’: Fawad Chaudhry

    ‘Establishment is a political player in Pakistan’: Fawad Chaudhry

    Pakistan Tehreek-e-Insaf (PTI) leader Fawad Chaudhry said that the neutral (military) establishment in Pakistan is a political player. He asked how it can be neutral, as it is either on ‘this’ side or ‘that’.

    “They are political players in Pakistan. They have to decide for themselves. The military and the judiciary have been political players in Pakistan’s 75-year history,” said Fawad.

    Speaking on ARY news programme, ‘Off The Record’, Fawad said, “The monopoly on information, which belonged to the intelligence agencies previously, has been ended by social media now. The military and judiciary are powerful institutions, we can’t dictate them. Therefore, now they have to make this decision whether to keep on moving this way or adopt the path of modern institutions.”

    https://twitter.com/FawadPTIUpdates/status/1539655765908066304?s=20&t=9no6LbXJEsbbmC-zlDEqcw

    Talking about neutrals and neutrality, Fawad said that there is a context to being neutral.

    On the National Accountability Bureau (NAB) amendments, Fawad said the neutrals let the NAB laws to be amended. “If this is how the institutions have to remain neutral, then it will be a disaster.”

    https://twitter.com/FawadPTIUpdates/status/1539647626517155842?s=20&t=9no6LbXJEsbbmC-zlDEqcw

    Fawad said that even he was shocked that Shehbaz Sharif was being considered to become prime minister of Pakistan.

    During a seminar on “Regime Change Conspiracy and Pakistan’s Destabilization” on June 22, Imran Khan said, “People ask me if I knew about it, then why didn’t I do anything? Well, I never imagined that they would appoint Shehbaz Sharif as the prime minister.”

  • ‘Jo sazish rok saktay thay, unko bataaya tha ke barri mushkil se mulk ki economy sambhali hai’: Imran Khan

    ‘Jo sazish rok saktay thay, unko bataaya tha ke barri mushkil se mulk ki economy sambhali hai’: Imran Khan

    Chairman Pakistan Tehreek-e-Insaf (PTI) and former Prime Minister (PM) Imran Khan while speaking to a public gathering said, “Jo sazish rok saktay thay, unko bataaya tha ke barri mushkil se mulk ki economy sambhali hai.” [Those who could stop the conspiracy I told them that we managed the economy with a lot of difficulty.]

    Khan on Friday claimed that he talked to “those who could have stopped the conspiracy” and also sent the then finance minister Shaukat Tarin to have a word with them but it turned out to be a futile exercise.

    “I am ready to go to jail and even die for this cause but I would never accept becoming a slave to the United States,” he said, adding that the “three stooges” [Asif Zardari, Shehbaz Sharif, and Maulana Fazlur Rehman] had hatched a conspiracy against his government in collaboration with the US.

    “Handlers, while sitting in the US, toppled a sitting government in Pakistan,” he said. “We would, therefore, continue a campaign against this conspiracy until elections are called anew.”

    Referring to PML-N supremo Nawaz Sharif and Prime Minister Shehbaz Sharif, Imran Khan said: “One of the brothers hurls abuses at the country’s army, while the other resorts to bootlicking.”

    He further said that PPP Co-chairman Asif Ali Zardari suggesting the National Accountability Bureau (NAB) reforms is “a sign of the Judgement Day”.

    “Those who could have stopped the conspiracy should know that the PTI government had stabilised the economy with great difficulty,” he added.

  • ‘Gen Bajwa should be saluted or should he be criticised?’ Zardari

    ‘Gen Bajwa should be saluted or should he be criticised?’ Zardari

    Pakistan Peoples Party (PPP) co-chair Asif Ali Zardari said on Wednesday said that the army was “apolitical” for the first time, asking whether the situation warranted saluting Chief of Army Staff (COAS) General Qamar Javed Bajwa or “fighting” with him.

    “Should Chief of the Army Staff (COAS) General Qamar Javed Bajwa be saluted for [keeping] the army apolitical or shall he be criticised?” asked Zardari, adding that the government will try to make sure “they” remain apolitical and neutral in the future.

    Faiz Hameed has been khuddi laen (sidelined)

    When asked whether he would salute former Inter-Services Intelligence (ISI) chief Lt Gen Faiz Hameed, Zardari replied, “he has been khuddi laen (sidelined).”

    Talking about the judiciary, which has been criticised by Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan, Zardari said he had never run a campaign against them.

    “[Former military ruler] Pervez Musharraf kept me in jail for five years but we did not attack his house and I have said internationally, I want to see Musharraf alive.”

    “I think we should let the institution do its work and help them.”

    General elections only after the government introduces electoral reforms

    Asif Ali Zardari said that Pakistan would move towards general elections only after the government introduces electoral reforms.

    “Electoral and NAB (National Accountability Bureau) reforms are included in our game plan,” the ex-president said during a a meeting with journalists, noting that if polls are held before reforms, then any government that comes into power will face the issues that the past and present regimes are facing.

    “We have to change laws and improve them and then go to elections. Whether it takes three or four months, we have to work on implementation of policies and improving the electoral process,” Zardari said at a press conference in Karachi.

    He said he had consulted Pakistan Muslim League-Nawaz (PML-N) Mian Nawaz Sharif and “made him understand that as soon as our reforms and low-hanging fruit targets are complete [we can go to polls]”.

    When will the new army chief be appointed?

    Defence Minister Khawaja Asif in a recent interview said that there was a possibility of holding elections before November. In response, Zardari said the PML-N leader had his own thoughts and was bound to listen to his party’s directives.

    “The PML-N decided with me that until electoral reforms were brought, there would be no [talk] about the new army chief’s appointment.” Once the electoral reforms had been introduced and the economic situation had improved and the parliament believes it is time to go for elections, polls can then be held, he added.

    ‘Out of box solutions to fix economy’

    Speaking on the economy, Zardari said, “We did not take any votes from the PTI’s dissident lawmakers,” he said, adding that he has come to power to know the prices of “aaloo, tamatar, unlike Khan.”

    Zardari also called for “out of the box” solutions to fix Pakistan’s economy as the country faces an uphill task on the fiscal front.

    He maintained that the new government will take some time to control the situation. Asif Zardari said that the nation will have to face problems until the International Monetary Fund (IMF) programme is finalised.

    He said he had a lot of “out-of-the-box thought processes”, including about the State Life Insurance Corporation. “It is an investment of more than Rs100 billion. Give 26 per cent of it to a business house with a good track record and float 26pc [of its shares] in the market. You will get at least Rs8 to 10bn.”

     There is no such thing. He (Imran) has created a political myth:

    Zardari, while responding to a question, said he had not read the cable that Imran claimed contained proof of a “foreign conspiracy” to oust him.

    “I do not believe any [US] State Department official is irresponsible enough to [say] what you have read out to me. There is no such thing. He (Imran) has created a political myth. What need does the US have [to interfere]?”

    The former president said Pakistan needs to correct its policies and portray itself as a safe haven so the international community would consider it as a partner.

    He slammed Imran for labelling his opponents as Mir Jafars and Mir Sadiqs. “If anyone can run the country, it is us, not him. His own friends left him because they (PTI) could not fulfil their political commitments.”

  • Which reptile is Imran Khan most scared of? Zardari reveals all

    Which reptile is Imran Khan most scared of? Zardari reveals all

    Former president and Pakistan People’s Party (PPP) co-chairman Asif Ali Zardari revealed that Pakistan Tehreek-e-Insaf (PTI) Chairperson Imran Khan is afraid of lizards.

    Taking a jibe at the PTI chairman, Zardari said Khan was detained for eight hours in 2007 and over there, it came to light that he was afraid of lizards.

    “If Imran Khan will be put in jail, then it will be an enormous problem for this gora (white) sahab,” he added.

    “We have an issue with Imran Khan’s mindset. We have an issue with how Imran Khan has provoked the people of Pakistan. Individually, I don’t care for him, ” said Zardari.

    “Imran Khan has been lying since the beginning. He exaggerates a lot. His ” said Asif Zardari on Geo News programme ‘Capital Talk’.

    Talking about a secret meeting with Prime Minister (PM) Shehbaz Sharif and Zardari, the PPP leader was questioned if it was this secrecy that led to Khan losing his position. “I don’t know what is in Imran Khan’s mind. But his advisers are novices, they are not political beings. They don’t understand politics. You know politicians make terrible bedfellows. So this can happen anytime.”

    Responding to becoming a part of PM Shehbaz’s cabinet, Asif Zardari said Bilawal Bhutto-Zardari’s inclusion will be decided according to the party’s Central Executive Committee (CEC).

    “Bilawal Bhutto as Foreign Minister of Pakistan will be decided in PPP’s CEC meeting,” he said.

    Talking about the 22-year political journey of Khan, Zardari said, ” Once Bibi [Benazir Bhutto] was asked what does she think about Imran Khan in politics, she said that as long as the ball is not tempered, he is welcome.”

    Zardari said that Khan’s propaganda machinery was very strong. “He has hired people internationally. He has the complete support of the Goldsmith family.”

    Talking about National Accountability Bureau (NAB), Zardari said that it is important to bring sensibility to NAB. So before the next elections, “we will decide to dilute some of the powers of NAB”.

    Talking about wooing Khan’s allies to vote against him in the no-trust motion, the former president went on to say, “I am a guarantor in all agreements made with allies and we will fulfill all of their legitimate demands.”

    “I am also a guarantor with Muttahida Qaumi Movement-Pakistan (MQM-P). However, someone has misguided Pakistan Muslim League-Quaid (PML-Q), but we still want them to join us,” he said.

    Zardari said it was also his responsibility to oversee the implementation of the agreements signed with all allies, including the MQM-P, Balochistan National Party (BNP-M) of Akhtar Mengal, Shahzain Bugti of Jamhoori Watan Party (JWP) and Khalid Magsi of Balochistan Awami Party (BAP).