Former finance minister Senator Ishaq Dar. Photo: File

ISLAMABAD: The accountability court hearing the assets reference against Senator Ishaq Dar reserved its ruling on the suspect's petition against the freezing of his assets on Wednesday. 

Dar, the former finance minister and close aide of former prime minister Nawaz Sharif, is accused of possessing assets disproportionate to his declared sources of income.

A reference was filed against him by the National Accountability Bureau (NAB) in light of the Supreme Court's July 28 verdict in the Panama Papers case.

Dar had been earlier declared a proclaimed offender by the accountability court due to his continuous absence from the proceedings and his property and assets were also ordered to be seized. 

Advocate Qazi Misbah appeared on behalf of Dar and requested the court to dismiss its order of freezing and seizure of Dar's assets. 

NAB prosecutor Imran Shafique opposed the plea, arguing that the defendant should have approached the court within 14 days of the order which was not done. 

Ishaq Dar requests accountability court to unfreeze Hajvery Trust accounts

Court issues notice to NAB seeking response over the petition

Misbah responded that he received the order late otherwise swift response would have been conducted.

Accountability Court-I Judge Mohammad Bashir then reserved the verdict and will announce it on February 14. 

The next hearing of the assets reference case will be held on February 8, when two witnesses are expected to appear before the court and record their statements. 

On Jan 24, the court ordered unfreezing of Dar's Hajveri Trust bank account on welfare grounds. On January 10, Dar had petitioned the court stating that Hajvery Trust is an organisation for orphans, where 93 orphan boys and girls are being looked after and for their sake, the court must unfreeze the trust's bank accounts.