LAHORE: The government on Tuesday started the process to auction the sprawling residence of former finance minister Ishaq Dar in a posh neighbourhood of Lahore, after it was confiscated by the National Accountability Bureau (NAB) over a reference about assets beyond means.
Ishaq Dar has been absconding court proceedings since 2017 following the registration of reference against him. Later, NAB confiscated his various bank accounts worth Rs500 million and his house, spread over four kanals and seven marlas in Gulberg, Lahore.
On Tuesday, the government advertised the auctioning of the house. The ad said that there would be an open auction on January 28, which would allow the highest bidder to take possession of the house. The district government has set a minimum price of Rs185 million.
The house number 7, in the H block of Gulberg comprised 12 rooms. It was sealed by the district government on the order of NAB three months ago. The wife of Dar challenged the NAB order but in November last year, the accountability court dismissed her petition.
Tabassum Ishaq Dar had contended that the house was owned by her as it was given to her by Ishaq Dar as Haq-e-Mahar on February 14, 1989. The court ruled that Tabassum Ishaq Dar had failed to prove that the property was gifted to her and upheld the NAB decision to confiscate the property.