Pakistan court issues arrest warrant for finance minister

Pakistan’s Finance Minister Ishaq Dar is seen after a party meeting in Islamabad, Pakistan on September 26, 2017. (File photo by Reuters)
Updated 14 November 2017
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Pakistan court issues arrest warrant for finance minister

ISLAMABAD: An anti-corruption court in Pakistan on Tuesday issued an arrest warrant for Finance Minister Ishaq Dar, media reported, after the veteran politician failed to turn up for several court hearings.
The warrant comes at an awkward time for Pakistan, which wants to raise in excess of $1 billion on international debt markets through a Sukuk and a Eurobond in coming months and wants to woo international investors.
Dar, who has been charged with amassing wealth beyond his known sources of income, has for three weeks missed court hearings conducted by the anti-graft agency the National Accountability Bureau (NAB), prompting a judge to issue a non-bailable arrest warrant, the English-language Dawn newspaper and other media reported.
Dar, who is receiving medical treatment in London and now faces arrest upon his return to Pakistan, has pleaded not guilty.
A spokesman for the NAB was not immediately available for comment.
The charges against Dar followed an investigation into the finances of former Prime Minister Nawaz Sharif, who was ousted in July after the Supreme Court disqualified him for not declaring a small salary from his son’s off-shore company.
The finance minister is one of Sharif’s closest political allies and Dar’s son has married Sharif’s daughter. Both men deny any wrongdoing.
Dar has rejected growing calls to resign amid a worsening economic outlook for Pakistan, which is battling to stave off a balance of payments crisis amid dwindling foreign currency reserve and a widening current account deficit.


NATO will show unity despite differences: Stoltenberg

Updated 20 June 2018
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NATO will show unity despite differences: Stoltenberg

  • Stoltenberg said NATO hopes to start accession talks with Macedonia at the summit, which will be held in Brussels on July 11 and 12
  • The US leader has also complained that the transatlantic defense alliance is more useful for Europe than it is for the United States

BRUSSELS: NATO chief Jens Stoltenberg voiced confidence Tuesday that Alliance members will demonstrate unity at a summit next month despite “important differences” between the United States and European members of the transatlantic Alliance. US President Donald Trump has called on fellow members to shoulder a bigger share of the NATO budget. The US leader has also complained that the transatlantic defense alliance is more useful for Europe than it is for the United States. However Stoltenberg remained decidedly upbeat on Tuesday, while acknowledging the differences. “I’m absolutely confident that the NATO summit will demonstrate the transatlantic unity, that Europe and the United States stand together despite important differences on important issues like trade, the Paris (climate) agreement or the Iran nuclear deal,” the NATO leader told the France 24 television channel. “I met president Donald Trump recently in the White House and he reconfirmed his strong personal commitment to NATO and he also recognized that European allies are investing more in defense.” Trump caused dismay in Europe during his presidential campaign when he said that NATO was “obsolete” and failing to meet the challenge posed by Daesh terror groups. “He has a strong message about the need to do more (on defense spending) and I agree with him and the European allies also agree with him,” said Stoltenberg. Stoltenberg also said NATO hopes to start accession talks with Macedonia at the summit, which will be held in Brussels on July 11 and 12, after the small Balkan nation reached a deal with Greece to be renamed the Republic of North Macedonia.