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MQM founder Altaf Hussain to face music again as Sarfraz Merchant plans fresh case

Haider Ali 01:29 PM | 23 Mar, 2017
MQM founder Altaf Hussain to face music again as Sarfraz Merchant plans fresh case
LONDON - London- based tycoon Sarfraz Marchant has decided to file a new case against Muttahida Qaumi Movement (MQM) founder, Altaf Hussain, it has bee learnt.

Sarfaraz while talking to Dunya News said that the British government had dropped money laundering case against MQM founder on political basis.

He claimed that the case against MQM founder was dropped despite the fact that the Scotland Yard had given a written statement that they had solid proof of money laundering against the MQM founder.

Scotland Yard in October last year had announced to drop investigations against Altaf Hussain in the purview of alleged money laundering.

The case against the Muttahida Qaumi Movement (MQM) Chief Altaf Hussain started in the end of 2012 when the police found a large amount of cash at the MQM’s International Secretariat. Scotland Yard said during the course of investigation that it had “credible evidence that the MQM received funds from the Indian government sources and broke the electoral laws of Pakistan and the UK”.

However, the agency after a series of investigations decided not to proceed further.

“The Metropolitan Police Service has today, Wednesday, 13 October, following a detailed evidential review and upon receipt of legal advice, made the decision to withdraw their application in a civil case under the Proceeds of Crime Act 2002 for the forfeiture of over £500,000 in cash. The cash had been seized from a number of venues between 2012 and 2014. Having examined all of the evidence the Met has accepted that there is insufficient evidence to prove that the money seized was the proceeds of crime or was intended for use in unlawful conduct,” said the police in a statement.

It may be mentioned here that UK police also started returning confiscated money worth nearly half a million pounds to MQM founder Altaf Hussain and Sarfaraz Merchant.

“It is a success,” said Mr Merchant after getting the cash. “My money was legitimate.”

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 January 31, 2023 (Tuesday).

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

Currency Symbol Buying Selling
US Dollar ‎USD 267.9 270.65
Euro EUR 287.2 290
UK Pound Sterling GBP 327.75 331
U.A.E Dirham AED 73.3 74
Saudi Riyal SAR 70.35 71.05
Australian Dollar AUD 184.5 186.9
Bahrain Dinar BHD 698.94 706.94
Canadian Dollar CAD 195 197.2
China Yuan CNY 38.76 39.16
Danish Krone DKK 38.4 38.8
Hong Kong Dollar HKD 32.05 32.40
Indian Rupee INR 3.1 3.12
Japanese Yen JPY 2.5 2.54
Kuwaiti Dinar KWD 850.1 859.1
Malaysian Ringgit MYR 60.93 61.53
New Zealand Dollar NZD 168.66 170.66
Norwegians Krone NOK 26.76 27.06
Omani Riyal OMR 682.86 690.86
Qatari Riyal ‎QAR 70.4 71.1
Singapore Dollar SGD 197.17 199.17
Swedish Korona SEK 25.49 25.79
Swiss Franc CHF 285.03 287.53
Thai Bhat THB 8.01 8.16

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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