Islamabad: Britain’s High Court has ordered a fine of Rs 450 crore from the accounts of Pakistan High Commission in London. The fine was imposed by the National Accountability Bureau (NAB) in lieu of non-payment to foreign asset recovery firm Broadsheet LLC. A local newspaper gave information about this.
According to the Pakistan newspaper Express Tribune, United Bank Limited UK wrote a letter to the Pakistan High Commission on December 29, following a court order requesting it to provide written payment instructions with debit account details to facilitate the payment of USD 28,706,533.35 in line with the Final Third Party Order issued by the high court.
The bank also told the High Commission that in case of non-receipt of written payment instructions by 30 December, there would be no option but to make unilateral withdrawals from the accounts of the High Commission to recover the payment amount as stipulated in the court order.
Citing sources, the report said around Rs 450 crore (USD 26,153,783.34) NAB amount was lying in the UBL, London account, which is operated in the name of Pakistan High Commission in Britain.