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NA committee summons NAB chief over hefty payment to Broadsheet

11:33 PM | 14 Jan, 2021
NA committee summons NAB chief over hefty payment to Broadsheet

ISLAMABAD – A standing committee of the National Assembly has summoned National Accountability Bureau (NAB) Chairman Justice (retd) Javed Iqbal over a matter related to payment of millions of dollars to Broadsheet LLC, a UK-based law firm. 

The NA Standing Committee on Foreign Affairs has asked the head of the anti-graft buster on January 18 (Monday) after taking notice of payment of more than $28.706 million (Rs4.59 billion) to the UK company. 

It emerged earlier this month that Pakistan paid more than $28.706 million (Rs4.59 billion) the British assets recovery company after the London High Court found the National Accountability Bureau (NAB) guilty of breaching a contract. 

The hefty amount was transferred from the Pakistan High Commission (PHC) on behalf of NAB to Broadsheet LLC after a long litigation. The firm was hired around 17 years ago to detect alleged foreign assets of dozens of Pakistanis which it failed to trace any, Geo News reported. 

On December 17, the London High Court’s Financial Division had directed Pakistan to ensure payment of the amount to the NAB’s former client Broadsheet by 30th.

The Pakistani anti-graft buster had hired Broadsheet during former president Pervez Musharraf’s government in 2003 to trace assets in the UK and USA of more than 200 Pakistanis Benazir Bhutto, Asif Ali Zardari and Nawaz Sharif.

The British firm had moved the court against NAB after the anti-graft watchdog broke its contract in violation of the terms and conditions.

The media outlet citing sources said that Pakistan has left no option except complying with the orders as it has exhausted all legal options. The lawyer representing Pakistan had also advised against challenging the verdict.

Daily Pakistan Global Web Desk

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Currency Rates in Pakistan Today - PKR to US Dollar, Euro, Pound, Dirham, and Riyal - 21 April 2024

Pakistani currency remains unchanged against US Dollar and other currencies on April 21, 2024. US dollar was being quoted at 277.5 for buying and 280.5 for selling.

Euro stands at 293 for buying and 296 for selling while British Pound hovers at 342.25 for buying, and 345.65 for selling.

UAE Dirham AED was at 75.20 and Saudi Riyal's new rate was at 73.30. 

Today’s currency exchange rates in Pakistan - 21 April 2024

Currency Symbol Buying Selling
US Dollar USD 277.5 280.5
Euro EUR 293 296
UK Pound Sterling GBP 342.5 346
U.A.E Dirham AED 75.2 75.9
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 181 182.8
Bahrain Dinar BHD 740.55 748.55
Canadian Dollar CAD 201 203
China Yuan CNY 38.47 38.87
Danish Krone DKK 39.78 40.18
Hong Kong Dollar HKD 35.53 35.88
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 903.11 912.11
Malaysian Ringgit MYR 58.08 58.68
New Zealand Dollar NZD 164.22 166.22
Norwegians Krone NOK 25.61 25.91
Omani Riyal OMR 723.2 731.2
Qatari Riyal QAR 76.45 77.15
Singapore Dollar SGD 204.5 206.5
Swedish Korona SEK 25.31 25.61
Swiss Franc CHF 305.47 307.97
Thai Bhat THB 7.56 7.71

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