Lahore, Feb 6 (IANS): Pakistan's provincial minister and senior Pakistan Tehreek-e-Insaf (PTI) leader Aleem Khan was arrested here on Wednesday by the country's anti-graft body, the National Accountability Bureau (NAB), for owning assets beyond his known sources of income.

Khan was taken into custody as he appeared before NAB Lahore. The Punjab local government minister was being investigated in cases pertaining to owning assets beyond his known sources of income and an offshore company.

The watchdog will present Khan before an accountability court on Thursday to seek his remand. Following the arrest, Khan resigned from the post of Punjab local government minister, Geo News reported citing his family. However, Punjab Information Minister Fayazul Hasan Chohan rejected reports of Khan's resignation.

Khan faces multiple inquiries -- one involving offshore company Hexam Investment Overseas Ltd and another for owning assets beyond his known sources of income.

A press release by the anti-corruption body cited by Dawn online said that Khan misused his authority as General Secretary of the Park View Housing Society and as a past member of the provincial Assembly.

Geo News reported that Khan owned assets worth over Rs 918 million. According to his nomination papers submitted for the recently held elections, he held total assets worth Rs 918,278,855.

Khan's personal property was valued at over Rs 159 million while his ownership of shares was said to be more than Rs 129.3 million.

Pakistan Muslim League-Nawaz (PML-N) leader and former Sindh Governor Mohammad Zubair called the development "positive".

"Today's (arrest) is a positive development. Prime Minister Imran Khan has a big responsibility to maintain the credibility of politics."

Zubair added that the Prime Minister must now seek resignations from ministers who were under investigation by the anti-corruption watchdog.