While issuing a written order on Friday in response to please challenging legality of incumbent President of the National Bank of Pakistan (NBP) Arif Usmani and others’ appointment, the Islamabad High Court (IHC) summoned central bank official in person for court assistance in the matter.
The federal government has announced the appointment of Arif Usmani as the president and chief executive officer of the NBP for a term of three years with immediate effect from February 12, 2019.
Challenging the appointment of the NBP President Usmani, Board of Directors and Chairman Zubair Soomro citizens Syed Jahangir, Javed Iqbal, Fazal Raheem and Latif Qureshi urged the IHC to declare all the appointment illegal on the grounds that due process was ignored in the matter.
On Friday, a single-member bench of the IHC Justice Mohsin Akhtar Kiyani said in written order copy of which available with TlTP, “ Learned counsel for the parties have concluded their arguments except State Bank of Pakistan (SBP) – Office is directed to issue notice to SBP for its representation before the court”.
Summoning Director Finance of the SBP, Justice Kiyani said in his order, “Director Finance shall appear in person before the court on the next date of hearing in order to assist this court qua the clearance of name of the President of NBP as referred in the list before initiation of process of recruitment”.
The petitioners have alleged that the appointment of chairman and directors have been in violation of Public Sector Companies (PSC) Rules 2013, Listed Companies Regulations 2017, Esta Code, SBP prudential regulations and Supreme Court decisions.
Citing the ratio of a landmark judgment of the top court during arguments before the single-member bench the counsels quoted Supreme Court’s decision in the Ashraf Twana case in 2012, Ataul Haq Qasmi case in 2019 and the PTV case in IHC in September 2020. IHC has been urged to declare appointment of chairman and all boards be declared illegal and that all benefits and amounts given to them may be recovered.
