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NAB law explainer: Anti-graft body now restricted to corruption over Rs500m

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Pakistan anti-corruption law has been further amended, on the recommendation of the national assembly’s standing committee on law and justice. After which, on Wednesday, the national assembly passed the National Accountability (Second Amendment) Act 2022.

This is the second time the law has been altered by the coalition government, since coming to power in April. Previously changes were made to the anti-corruption law in May.

It is important to mention that the PTI has challenged the changes made to the anti-graft legislation in the Supreme Court of Pakistan, which is expected to take up the case soon.

What new revisions have been made to the law that governs the National Accountability Bureau? Geo.tv lists down the changes:

  • Now an offence will fall under the NAB law only if a person commits corruption of the value of more than Rs.500 million. This means that NAB “has been fixed to take action against only mega scandals,” stated the standing committee when approving the amendments.
  • Previously, the prosecutor general’s term was non-extendable. Now the three-year-term can be extended.
  • After an investigation is completed by NAB, no supplementary reference can be filed in a case unless new evidence comes to light.
  • Earlier the NAB chairman could call “any person” or request “any document” during an inquiry. As per the revisions, now the accountability body can only summon those people and documents relevant to the inquiry or investigation.
  • Previously the chairman NAB, with approval from the court, could direct any suspicious person’s surveillance and seek the assistance of any government agency. This section has been removed.
  • Under the earlier law, banks and financial institutions were to report unusual or large transactions to the NAB. Now, the law states that the transactions should be over Rs. 2 million to be considered “unusual”.
  • At the time of the arrest, the NAB will have to inform the person of the charges against him/her, and any person called to provide information shall be informed of the allegations so the person is able file a defense.
  • Earlier the NAB law stated that if someone absconds, to avoid being served or evades punishment, he/she will be guilty of an offence with three years’ imprisonment. This has been omitted.
  • Even after a reference is filed the NAB chairman can withdraw the case if it is “unjustified”, before the charges are framed.
  • A person entering into a plea bargain or voluntary return shall not prejudice the case of another accused
  • If it comes to light that the plea bargain was a result of duress or coercion, during the inquiry, the court may recall the plea bargain
  • Earlier the amount from plea bargain and voluntary returns was to be deposited with the federal or provincial government within one month. That has been omitted.

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The Pakistan Army’s pivotal role in the socioeconomic development of Balochistan

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Along with the province administration, the Pakistan Army has played a key role in leading a number of socioeconomic projects. A determined effort has been undertaken to solve the issues and utilise the potential of the province, realising the intrinsic relationship between the development of Balochistan and the advancement of Pakistan overall.

In the face of security problems, the Pakistan Army has adopted a multipronged strategy that includes peacekeeping as well as socioeconomic development. By means of focused awareness initiatives, communities have been motivated to seize mainstream chances, which has resulted in the voluntary surrender of militants and opened the door to a peaceful cohabitation.

The Army and the Balochistani administration have placed a high priority on the construction of educational facilities, particularly in outlying areas, recognising the role that education plays as a catalyst for advancement. By equipping the public with the knowledge and skills necessary for a better future, this strategic focus seeks to free the people from the hold of extremism.

In addition, the Pakistan Army’s unflinching security has helped to usher in a new era of growth, supported by strategic initiatives like the Gwadar Port and the China-Pakistan Economic Corridor (CPEC). The Army’s actions to protect CPEC projects have received international recognition, and the Chinese Minister of National Defence has praised them for their commitment to regional peace.

The Reko Diq project is a highly promising venture that has the potential to become the largest gold and copper mine globally. This grand project has the potential to reduce Pakistan’s debt load and spark massive economic expansion, drawing in international capital and improving the nation’s economic prospects.

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$13.44 billion in liquid foreign reserves

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The State Bank’s foreign reserves were $8,040.3 million, whereas Pakistan’s total liquid foreign reserves as of the week ending April 5, 2024, were US$ 13,441.7 million.

The State Bank of Pakistan said that during the week under review, the central bank’s foreign exchange reserves dropped by $0.1 million to $8,040.3 million in a statement released here on Monday.

It further stated that commercial banks’ net foreign reserves were reported to be $5,401.4 million.

The nation’s total liquid foreign reserves as of the previous week, which concluded on March 29, 2024, were $13,378.9 million.

These included the $8,040.4 million in foreign reserves held by the central bank and the $5,338.5 million in net foreign reserves held by commercial banks.

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Today, IHC will hear Qureshi, the founder of PTI,’s arguments against his conviction in the CCI case.

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The PTI founder and Shah Mehmood Qureshi will appeal their convictions in the cipher case to the Islamabad High Court today (Tuesday).

The hearing will be conducted by a division bench that consists of Justice Miangul Hassan Aurangzeb and Chief Justice Aamir Farooq of the Islamabad High Court.

The attorneys will present their arguments regarding the appeals against the sentencing during the hearing.

However, Bushra Bibi, the wife of the PTI founder, has filed a petition to have her medical examined, and this plea will also be heard today.

Bushra Bibi’s application will be considered by Justice Miangul Hassan Aurangzeb. The petitioner has voiced her concern that the food she was provided was toxic.

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