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NAB opposes Zardari's bail fearing record tampering

Haider Ali 07:52 PM | 12 Apr, 2019
NAB opposes Zardari's bail fearing record tampering
ISLAMABAD - The National Accountability Bureau (NAB) listed down the reasons behind its opposition to the interim bail granted to former president Asif Ali Zardari by the Islamabad High Court (IHC) in the fake accounts case.

The anti-graft body, stated in its report presented to the court, that the former president 'may tamper records' if not taken into custody, accusing Pakistan peoples Part co-chairman of not cooperating with the investigation team.

According to the accountability watchdog, Zardari fraudulently obtained Rs1.5 billion in loans for his Park Lane company through other firms.

The bureau has alleged that Zardari, in connivance with former prime minister Syed Yousaf Raza Gillani, illegally obtained three luxury bullet-proof cars, two BMWs and one Toyota Lexus from the state gift repository, gifted by the governments of UAE and Libya.

NAB further informed the court that Zardari paid Rs37.16 million as duty/tax on the said vehicles through cheques issued from the fake accounts in question.

"NAB has collected documentary evidence in accordance with the law," it added.

"However, it is the petitioner that is not cooperating with NAB. Moreover, the petitioner remained at influential positions. Therefore, tampering of evidence on his part cannot be ruled out," the bureau cautioned.

The fake accounts case pertains to the use of fictitious accounts to launder money. Initially the amount laundered was found out to be around Rs 35 billion, however, the Federal Investigation Agency had revealed in its report that an amount around Rs 100b was involved in the case.

The Federal Investigation Agency had named Zardari, Talpur, Omni Group chairman Anwar Majeed, his sons and over 10 others as suspects in an interim charge sheet filed in the banking court in August last year.

The fake bank accounts cum money-laundering probe started last year when then chief justice Saqib Nisar ordered the formation of a Joint Investigation Team for a thorough investigation. The case was brought to light in 2015, however, high-profile arrests were made on the directives of the former top judge.

The National Accountability Court is also investigating the case and recently it arrested former Karachi Port Trust (KPT), Secretary Aftab Memon.

Haider Ali

The writer is a civil servant.

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KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on February 8, 2023 (Wednesday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 276.9 280.15
Euro EUR 296.12 296.74
UK Pound Sterling GBP 331.78 332.48
U.A.E Dirham AED 75.06 75.36
Saudi Riyal SAR 73.48 73.79
Australian Dollar AUD 190.31 192.71
Bahrain Dinar BHD 732.23 740.23
Canadian Dollar CAD 205.22 207.42
China Yuan CNY 40.72 41.12
Danish Krone DKK 39.92 40.32
Hong Kong Dollar HKD 35.08 35.45
Indian Rupee INR 3.35 3.46
Japanese Yen JPY 2.5 2.54
Kuwaiti Dinar KWD 900.32 909.32
Malaysian Ringgit MYR 64.65 65.25
New Zealand Dollar NZD 174.19 176.18
Norwegians Krone NOK 27.12 27.41
Omani Riyal OMR 715.11 723.11
Qatari Riyal ‎QAR 75.64 76.34
Singapore Dollar SGD 208.03 210.03
Swedish Korona SEK 26.1 26.4
Swiss Franc CHF 297.31 299.81
Thai Bhat THB 8.25 8.4

KARACHI – Gold prices fell on Wednesday for the third straight day in local markets, after hitting aan all-time high in previous week.

The per tola price of 24 carats gold in Pakistan dropped by Rs2,000 to settle at Rs198,000 while the price of 10 grams decreased by Rs1715 to reach Rs169753.

On Monday, the gold price witnessed a drop of Rs200 per tola to close at Rs204,300.

In the international market, the commodity witnessed an upward trend as per ounce price reached to $1,880 after an increase of $11 dollars.

https://en.dailypakistan.com.pk/08-Feb-2023/pakistani-rupee-registers-gains-against-dollar-amid-imf-talks

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