Inside Financial Markets

NAB raids Balochistan Fininancial Secretary Mushtaq Raisani House

The National Accountability Bureau (NAB) on Friday recovered more than Rs730 million from the residence of Balochistan Finance Secretary Mushtaq Ahmed Raisani, who was arrested earlier in the day.

Raisani has been accused of embezzling billions of rupees from local government development funds, a senior NAB official, who did not want to be named,

NAB recovered bags filled with local and foreign currency from Raisani’s residence.

Hundreds of Cash Foreign Currency Gold found in 12 suit cases.

According to initial count around Rs730 million worth of currency and prize bonds have been recovered from the serving bureaucrat’s residence.

Photo provided by author
Photo provided by author

Raisani was arrested during a a raid at his office in the civil secretariat on Friday.

The finance department was sealed during the raid while officials searched all rooms to sift through records, sources said, adding that records of the finance department were also seized for further investigation.

Raisani, an influential bureaucrat in Balochistan, has served as secretary finance for the last few years. He served in same position during the PPP government’s term.

After a string of arrests in Sindh, this is the first high profile arrest made by the accountability body in Balochistan during the PML-N government’s term as it seeks to unearth corruption worth billions of rupees in the provincial finance department’s development funds.

“More arrests are likely after interrogation of the secretary,” an official told, seeking anonymity.

Raisani suspended, Lango resigns

After the episode, Balochistan government announced suspension of Mushtaq Raisani in a late night notification.The notification explains that the secretary finance was suspended following his arrest by National Accountability Bureau (NAB).

Balochistan government spokesperson told media that the provincial government will fully co-operate with NAB during investigation against Raisani.

On the other hand, Advisor to Chief Minister on Finance, Khalid Lango has resigned from his post following Raisani’s arrest.

Mir Khalid Lango said that he is resigning for a man from his department is facing such grave allegations of corruption and foul play, which does not morally allow him to stay in his post.

He however clarified that he is not facing any inquiry nor has been any allegation levelled against him.

Baqar Hussain

A Wannabe CFO, just had stepped in the corporate sector, willing to explore every aspect here and learn as mush as i can, awareness for those who dont, get the info where ever possible and stay up to date always.

The Canadian Securities Institute


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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)