Judicial Magistrate Mehreen Baluch approved Siddiqui and his tenant Javed Iqbal's bail against a sum of Rs20,000.
The duo was released from prison soon after the interior ministry confirmed receiving orders from the court.
Siddiqui and Iqbal were arrested on Friday night and a case was registered against them under Section 188 PPC for violating the Tenancy Act.
On Saturday, Siddiqui and Iqbal were presented in the court in handcuffs. The former adviser's counsel contended that Siddiqui was arrested over a house agreement that he never signed, as the house belonged to his son.
However, the magistrate had approved a 14-day judicial remand of both accused and they were consequently transferred to the Rawalpindi prison.
A copy of the house lease agreement that The Express Tribune has acquired shows that Karak district’s Iqbal and Siddiqui’s son signed a one-year agreement, renewable for another year. The house was rented on a monthly rent of Rs170,000 with a security deposit of Rs340,000.
Siddiqui's handcuffing 'condemnable': Qaiser
National Assembly Speaker Asad Qaiser expressed concern over the handcuffing of Siddiqui terming it "condemnable".
He telephoned Interior Minister Ijaz Shah and conveyed his concerns over the ill-treatment of the veteran journalist.
The NA speaker also summoned Islamabad police chief to appear in Parliament with a report of the incident.
"Irfan Siddiqui is a seasoned journalist and teacher," the speaker said, adding that "We have to respect the sanctity of knowledge and freedom of expression."
PML-N welcomes decision
In a statement after the bail decision, Pakistan Muslim League - Nawaz (PML-N) leader Marriyum Aurangzeb said the development
proved that the people of Pakistan still had conscience.
Addressing Prime Minister Imran Khan, she said the rule of the "selected and incompetent" will come to a quick end if the people of Pakistan stand together for the truth.
The former information minister also thanked the media for playing a constructive role in the matter.
Siddiqui talks to media
Siddiqui thanked social media activists, journalists and the civil for raising voice against his arrest.
Addressing a press conference outside his residence in Islamabad following his release, Siddiqui shared his ordeal and claimed that police had cordoned his house late Friday, and he was taken to the police station forcibly, without being shown an arrest warrant.
The senior columnist lamented that the police also misbehaved with his family, treating him as if he was a spy or a terrorist.
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