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Panama Papers scandal: Parvez Elahi and his son booked in money laundering case

Former Punjab CM gets bail in another case of unauthorised appointments

06:54 PM | 20 Jun, 2023
Panama Papers scandal: Parvez Elahi and his son booked in money laundering case
Source: Chaudhry Parvez Elahi

LAHORE – In connection with alleged money laundering in the Panama Papers scandal, the Federal Investigation Agency (FIA) on Tuesday filed a complaint against former federal minister Chaudhry Moonis Elahi and his father Chaudhry Parvez Elahi. 

Offshore companies that the president of the Pakistan Tehreek-e-Insaf (PTI) and the former federal minister held were made public by the Panama Papers, the FIA says. 

FIA had gathered evidences in order to file a case against the former Punjab chief minister and his son. 

Parvez and Moonis were charged in a case brought under the laws governing fraud and money laundering with hiding billions of rupees in five Panamanian companies. 

According to FIA sources, Mr. Elahi reportedly bought businesses in Panama and there was proof of money being illegally transferred outside. 

Bail in illegal appointments case

Earlier Chaudhry Parvez Elahi was granted post-arrest bail by anti-corruption court in Lahore on Tuesday in connection with an investigation into unauthorised appointments in Punjab Assembly.

After hearing the arguments on an appeal submitted by the former chief minister, Special Judge Ali Raza Awan of the anti-corruption court pronounced the judgement who reserved the verdict day before.

The PTI leader was given post-arrest bail in exchange for one million rupees surety bonds.

Parvez Elahi was first detained on June 1 outside of his Gujranwala home in connection with a Rs70 million fraud case involving the theft of development funds designated for the Gujrat district.

Daily Pakistan Global Web Desk

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Rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 28 Feb 2024

Pakistani currency remains momentum against US dollar in the open market on February 28, 2024 (Wednesday).

US Dollar rate in Pakistan

In the open market, the US dollar moves up and currently hovers at 282 for buying and 282.25 for selling.

Euro currently stands at 303.1 for buying and 306.1 for selling while British Pound rate stands at 351.6 for buying, and 355.1 for selling.

UAE Dirham AED hovers at 76.1 whereas the Saudi Riyal saw slight increase, with new rates at 74.25.

Today’s currency exchange rates in Pakistan - 28 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 282 282.25
Euro EUR 303.1 306.1
UK Pound Sterling GBP 351.6 355.1
U.A.E Dirham AED 76.1 76.8
Saudi Riyal SAR 74.25 75.05
Australian Dollar AUD 181.1 183.1
Bahrain Dinar BHD 742.91 750.91
Canadian Dollar CAD 207.1 209.1
China Yuan CNY 38.87 39.27
Danish Krone DKK 40.61 41
Hong Kong Dollar HKD 35.75 36.1
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 905.46 914.46
Malaysian Ringgit MYR 58.5 59.1
New Zealand Dollar NZD 173.05 175.05
Norwegians Krone NOK 26.41 26.71
Omani Riyal OMR 725.54 733.54
Qatari Riyal QAR 76.74 77.44
Singapore Dollar SGD 207.15 209.15
Swedish Korona SEK 27.04 27.34
Swiss Franc CHF 317 319.5
Thai Bhat THB 7.76 7.91

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