In a letter dated April 9, 2019, the ministry said the decision was taken on the recommendation of the National Accountability Bureau (NAB).
The other five people barred from flying abroad are Mubin Saulat, Shahid Islamuddin, Imran-ul-Haq, Uzma Adil Khan, and Aamer Naseem.
The letter states that the accused face charges of misuse of authority and causing losses to the national exchequer. "The amount involved in the case is Rs36.969 billion," states the ministry's letter.
Earlier in April, there were reports that the federal cabinet had also approved a move to place travel restrictions on Pakistan Muslim League - Nawaz (PML-N) leaders Abbasi and Ismail.
It was said that while Abbasi's name was to be placed on the ECL, Ismail's name would be included on the interior ministry's 'stop list'.
NAB has accused former premier Abbasi of awarding a 15-year contract for a liquefied natural gas (LNG) terminal in violation of prescribed rules during his stint as petroleum minister in ex-PM Nawaz Sharif's cabinet.
While the anti-graft body shelved the case in 2016, a decision to reopen the investigation was taken two years later in 2018. The former finance minister Ismail is also being investigated in connection with the LNG corruption case.
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