NAB initiates fresh inquiry against Zardari for not disclosing NYC property

Web Desk 04:41 PM | 5 Jul, 2021
NAB initiates fresh inquiry against Zardari for not disclosing NYC property

ISLAMABAD – The National Accountability Bureau has initiated a fresh inquiry against former former president Asif Ali Zardari for not disclosing the ownership of an apartment in the United States.

Inquiring details of the alleged ownership of an apartment in New York, the anti-graft watchdog has informed the PPP co chairman, via a notice, that he had not disclosed the New York apartment in his assets.

The federal institution also pointed out in the notice that the anti-graft body could not obtain records confirming that any legal sum was sent from the South Asian country to buy the costly flat that is located in Belaire Condominiums located at 524 East 72nd Street, New York.

Last month, NAB had issued a notice, along with a questionnaire, to Zardari seeking details of the apartment he allegedly owns. Subsequently, it asked the PPP leader to submit the details.

Meanwhile, Asif Zardari has approached the Islamabad High Court for a pre-arrest bail in the case. The PPP leader submitted the plea making NAB chairman, DG Rawalpindi and the investigation officer as respondents in the case.

A medical report of the Ziauddin Hospital was also enclosed with the plea stating that former president is not physically well and is under treatment for multiple ailments. 'There is a history of NAB targeting me', it also cited.

The PPP co-chair stated that he required more time to submit his response with the watchdog. He prayed the court to grant him bail until a final decision into the case and declare the notice sent by NAB Investigation as illegal.

On Saturday, Federal Minister for Information and Broadcasting Fawad Chaudhry claimed that NAB had recovered around Rs33 billion in the fake accounts case involving Asif Zardari. ‘With such a recovery, the volume of corruption in the country could be gauged easily as how the past rulers had looted the country and Sindh [in particular]. The actual volume of corruption in the fake accounts case was whopping Rs5,000 billion,’ Chaudhry wrote on Twitter.

Web Desk
Web Desk

Daily Pakistan Global Web Desk


ISLAMABAD – Pakistani rupee finally ended its losing streak against US dollar on Tuesday, gaining Rs4.43 after massive depreciation over the last week.

During the intra-day trading, the rupee was hovering at 266.75 with an appreciation of around 1.07 percent as talks between Pakistan and IMF underway for a stalled bailout programme.

Earlier on Monday, the rupee plunged by Rs7 and the greenback touched all-time high of Rs272. Last week, the local currency dropped by Rs24.54 in the interbank market – the largest single-day depreciation in more than two decades.

Finance experts linked the rupee’s recovery to exporters offloading some of their proceeds as remittances and export continued days after dollar cap was removed.

The country of over 220 million is facing a worst economic crisis with the forex reserved held by the country’s central bank remaining at critical $3.68 billion which were not enough to cover a month's import.

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs205,900 on Tuesday. The price of 10 grams of 24k gold was recorded at Rs176,530.

Likewise, 10 grams of 22k gold were being traded for Rs162,500 while a single tola of 22-karat gold was being sold at Rs 182,100.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City Gold Silver
Lahore PKR 205,900 PKR 2,370
Karachi PKR 205,900 PKR 2,370
Islamabad PKR 205,900 PKR 2,370
Peshawar PKR 205,900 PKR 2,370
Quetta PKR 205,900 PKR 2,370
Sialkot PKR 205,900 PKR 2,370
Attock PKR 205,900 PKR 2,370
Gujranwala PKR 205,900 PKR 2,370
Jehlum PKR 205,900 PKR 2,370
Multan PKR 205,900 PKR 2,370
Bahawalpur PKR 205,900 PKR 2,370
Gujrat PKR 205,900 PKR 2,370
Nawabshah PKR 205,900 PKR 2,370
Chakwal PKR 205,900 PKR 2,370
Hyderabad PKR 205,900 PKR 2,370
Nowshehra PKR 205,900 PKR 2,370
Sargodha PKR 205,900 PKR 2,370
Faisalabad PKR 205,900 PKR 2,370
Mirpur PKR 205,900 PKR 2,370


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