Lahore, Feb 14 (IANS): The Lahore High Court (LHC) on Thursday approved Pakistan Muslim League-Nawaz (PML-N) President Shehbaz Sharif's bail petitions in Ashiana Iqbal Housing Scheme and Ramzan Sugar Mills corruption cases and ordered his release.

The decision was taken by a two-member LHC bench headed by Justice Malik Shahzad Ahmad Khan, Geo News reported.

Pakistan's anti-graft watchdog, the National Accountability Bureau, had arrested the leader of the opposition on October 5, 2018, in connection to the multi-billion Ashiana Iqbal Housing case.

Sharif had been charged with misuse of authority during his tenure as Punjab province's Chief Minister from 2013 to May 2018 by unlawfully assuming powers of the board of directors of the Punjab Land Development Company and awarding a contract to an ineligible proxy firm that resulted in the failure of the housing scheme.

The scam reportedly caused losses of millions of rupees to the national exchequer and deprived 61,000 applicants of houses.

In Ramzan Sugar Mills case, Sharif has been accused of using public funds to benefit the Mills, which belongs to his family.

He had denied all the charges against him as false and frivolous and his counsel had sought relief of bail on 30 grounds, including one on medical reasons.