🔺 What to do when markets are at an all-time high? Find smart bargains, like these.See Undervalued Stocks

Pakistani Supreme Court postpones hearing in major corruption case

EditorJake Owen
Published 10/22/2023, 05:47 AM

In a recent development, the Supreme Court has postponed the hearing against Abdul Hafeez Sheikh and Abdullah Yousuf to November 14, 2023. The Karachi accountability court adjourned the hearing following the Supreme Court's decision on amendments to the NAB law.

Both Sheikh and Yousuf are accused of misusing their authority during their tenure in the PPP government. This misuse allegedly led to a software app development that resulted in a significant financial loss of $11.125 million to the national treasury. The severity of these charges led to their recommendation by the NAB Regional Board Karachi.

According to Dunya News, the Supreme Court ordered the delay of Dr Hafeez Shaikh's NAB hearing. The accountability court, taking interest in this case, served Shaikh a notice and revived the reference following the Supreme Court's landmark verdict restoring corruption cases. This action implicates him in a substantial national loss amounting to 11.125 million dollars.

This case represents a significant instance of alleged government corruption involving substantial financial losses to the government exchequer. As such, it is being closely watched by legal observers and the public alike. The next scheduled hearing on November 14 will be a crucial juncture in this ongoing investigation.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.