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Verdict reserved on Sharifs’ objections on NAB supplementary references

Sharif family

ISLAMABAD: An accountability court on Thursday reserved its verdict on two supplementary references regarding Al-Azizia Steel Mills, Flagship Investment and Hill Metal Establishment cases. Judge Mohammad Bashir resumed the hearing after former prime minister Nawaz Sharif, his daughter Maryam Nawaz and son-in-law Captain (retd) Safdar have reached the court. As the hearing began, counsel for Nawaz Sharif, Ayesha Hamid, submitted ... Read More »

NAB arrests former LDA chief over Ashiana Housing Scheme scam

Ahad Khan Cheema

LAHORE: The National Accountability Bureau (NAB) has arrested former Lahore Development Authority (LDA) director general Ahad Khan Cheema for alleged corruption in Ashiana Housing Scheme, a low-cost housing project of the Punjab government. NAB Lahore officials had taken the incumbent chief executive officer of the Punjab Thermal Power Ltd, Cheema, into custody from his office on M M Alam Road ... Read More »

Sh Rasheed moves NAB against PM, Capt Safdar

NAB chairman Justice (retd) Javed Iqbal

ISLAMABAD: Awami Muslim League Chief Sheikh Rasheed Ahmad has submitted his complaint against Prime Minister Shahid Khaqan Abbasi on the import of Liquefied Natural Gas (LNG) from Qatar to Chairman National Accountability Bureau Justice (retd) Javed Iqbal. Earlier, Sheikh Rasheed had filed a petition before the Supreme Court for the disqualification of Prime Minister Shahid Khaqan Abbasi under articles 62 ... Read More »

KP NAB directed to shift PDA cases to Rawalpindi

QUETTA: Jun09 – Justice (Retd) Javed Iqbal speaks during a press conference in Quetta.
ONLINE PHOTO by Ahmad Kakar

PESHAWAR: National Accountability Bureau (NAB) Chairman Justice (retd) Javed Iqbal has given approval to shift all cases of the Peshawar Development Authority to Rawalpindi Region NAB from Khyber Pakhtunkhwa NAB. The inquiry and investigations of all these cases will be held in Rawalpindi’s NAB Region. The step was taken on a letter issued on February 21 on behalf of MII ... Read More »

FIA arrests human trafficker

FIA crime

KARACHI: Federal Investigation Agency’s (FIA) Anti-Human Trafficking Circle (AHTC), Karachi arrested Al Hashmi Travel Hajj and Umrah Chief Manager Qaiser Abbas Khan. He was running the travel agency without the legal authority. The same agency had been seized by FIA earlier. The official recovered 11 passports & other materials from the possession of the accused and his office premises were ... Read More »

Phone companies depositing WHT on weekly basis

telecom sector, cellular companies

ISLAMABAD: Mobile phone companies are depositing withholding tax to national exchequer on weekly basis, Minister of State for Finance, Revenue and Economic Affairs Rana Muhammad Afzal Khan said. He said that the cellular/mobile phone companies (Telcos) are collecting withholding taxes from their subscribers, and depositing the same on weekly basis in the National Exchequer. Informing the Senate, he said that ... Read More »

SBP injects Rs 1,230.2 billion into market

Pak rupee

KARACHI: State Bank of Pakistan on Thursday injected Rs 1,230.2 billion into money market for seven days as reverse repo through its open market operation. The rate of return accepted is 5.77 percent per annum, said SBP statement. Read More »

Food commodities worth $2.395b exported in seven months

German organic food market keep growing

ISLAMABAD: Country earned $2.395 billion by exporting different food commodities during last seven months of current financial year as compared the exports of $2.016 billion of the corresponding period of last year. During the period from July-January, 2017-18, food group exports from the country grew by 18.83 percent as against the exports of same period last year, according the data ... Read More »

Current account deficit widens to $9.15b in 7 months


KARACHI: Pakistan’s current account deficit has widened by 48 percent to $9.156 billion during July – January 2017-18 as compared with the deficit of $6.43 billion in the corresponding period of the last fiscal year. According to balance of payment data issued by State Bank of Pakistan (SBP), the trade deficit widened by 24 percent to $21.51 billion during first ... Read More »

NAB orders probe against federal health minister, PMDC chairman

saira afzal tarar

ISLAMABAD: The National Accountability Bureau has ordered a probe against State Minister for Health Saira Afzal Tarar and the Pakistan Medical Dental Council chairman on charges of corruption in affiliating 12 medical colleges to the council. The anti-graft body executive board meeting, held on Tuesday under the chair of NAB Chairman Justice (retd) Javed Iqbal, also approved two corruption reference, ... Read More »

NAB to hold open court on every Thursdays


MULTAN: The National Accountability Bureau (NAB) will hold an open court on last Thursday of every month. According to NAB office sources, the citizens have been asked to contact NAB office and submit their complaints against corruption. The step was taken followig the directive of NAB Chairman Justice (Retd) Javed Iqbal. Director General NAB Multan Atiqur Rehman will listen to ... Read More »

FIA arrests passenger held at Lahore airport


LAHORE: The Federal Investigation Agency (FIA) Immigration has arrested a passenger at Allama Iqbal International Airport. According to a spokesman, the FIA Immigration intercepted a passenger, Abdul Razzaq, a resident of Sahiwal, who had arrived at the airport by flight No PK-726 from Riyadh.  He presented his passport No ST189250 for clearance, which was found fake on checking. The passenger ... Read More »

Senate body expresses reservation over mismanagement, transparency in PIA


ISLAMABAD: Senate Standing Committee on Privatization and Statistics has expressed reservation over mismanagement and non-transparency in Pakistan Airlines (PIA), which was piling up financial burden on national exchequer. The committee recommended accountability and transparency mechanism for smooth functioning to bring it out of financial crisis. The committee meeting, which discussed the privatization of PIA and its future prospect,  was chaired by ... Read More »

ADB delegation calls on Secretary BISP, discuss various initiatives


ISLAMABAD: A delegation of Asian Development Bank (ADB) lead by Director General Central and West Asia Department (CWRD) Werner E. Liepach called on Secretary Benazir Income Support Programme (BISP), Omar Hamid Khan here on Monday. DG ADB appreciated different initiatives of BISP and acknowledged its efforts for graduating vulnerable women out of poverty. He especially praised the new projects being ... Read More »

Rs148b project: NAB to probe into award of motorway construction contract


ISLAMABAD: The National Accountability Bureau (NAB) has decided to summon the former chairman of National High Authority (NHA), Shahid Ashraf Tarar, and contractors of the Karachi-Lahore Motorway Abdul Hakeem section to investigate alleged corruption of Rs24 billion in the award of contract for Rs148 billion for building motorway in August 2015. According to a senior official of NAB, the bureau ... Read More »

FIA launches crackdown against human traffickers


LAHORE: The Federal Investigation Agency (FIA) launched a crackdown against human traffickers and arrested two of them and three passengers. FIA Deputy Director Mufakhir Adeel told that FIA team raided the Sialkot airport and arrested three passengers who were flying abroad through illegal documents. The accused Saeedur Rehman, Shabbir Hussain and Nasrullah told that they had paid money to agents ... Read More »

3,388 human traffickers nabbed in three years


ISLAMABAD: Federal Investigation Agency (FIA) has arrested 3,388 persons who were allegedly involved in human trafficking during last three years. Of the total, 2259 human traffickers were arrested in Punjab, 1045 human traffickers in Islamabad, 77 in Khyber Pakhtunkhwa (KPK), 05 in Sindh and 02 in Balochistan. The year-wise break-up of arrests issued by Interior Division on Monday showed that ... Read More »

KP NAB to hold open court on chairman’s directions


PESHAWAR: Khyber Pakhtunkhwa (K-P) National Accountability Bureau (NAB) Director general Farmanullah Khan has announced holding an open court (khuli kucheri) following directions by the NAB chairman. The decision was taken in light of the directions issued by the NAB Chairman Justice (retd) Javed Iqbal, a statement issued by the NAB’s regional office in the provincial capital stated. According to details, Justice ... Read More »

Foreign exchange rates

foreign trade

KARACHI: The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following exchange rates bulletin, here on Monday. LIBOR FOR CALCULATING INTEREST ON SPECIAL US DOLLAR BONDS VIDE SBP F.E. CIRCULAR NO.42 & 21.07.98 & 04.08.98 RESPECTIVELY. LIBOR VALUE 6 MONTHS US DOLLAR 2.0964 20.02.2018 CONVERSION RATES FOR 19TH FEBRUARY 2018 FOR FOREIGN CURRENCY FOR FORWARD COVER FOR ... Read More »

IRSA releases 77,200 cusecs water


ISLAMABAD: The Indus River System Authority (IRSA) Monday released 77,200 cusecs water from various rim stations with inflow of 32,100 cusecs. According to the data released by IRSA, water level in the Indus River at Tarbela Dam was 1414.00 feet, which was 34.00 feet higher than its dead level of 1,380 feet. Water inflow in the dam was recorded as ... Read More »