Paramilitary troops arrested Khan on the orders of the anti-corruption bureau. The development threatens to escalate the nation's political crisis and draw thousands of his supporters to the streets
Khan’s party said he had been picked up in connection with a graft investigation involving a plot of land. The 70-year-old politician is in custody at National Accountability Bureau’s headquarters, the police said.
Officials from the anti-corruption body told the Associated Press that the NAB had issued arrest warrants for Khan last week, for which he had not obtained bail — something that would protect him from arrest under the country’s laws. Khan faces a slew of court cases and was set to be formally indicted Wednesday in a case that involved allegations that he did not properly disclose earnings from the sale of state gifts from his time in office.Pakistan’s benchmark KSE-100 Index fell by 1.2%, the most in almost seven weeks, after news of the arrest. Pakistan’s dollar debt pared earlier gains, with the bond due April 2024 retreating to 50.1 cents on the dollar from its session high of 51.3 cents.
The latest upheaval comes as Pakistan is grappling with an economy in deep distress. Moody’s Investor Service has warned the nation could default without an International Monetary Fund bailout as its financing options beyond June are uncertain.
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