Banking courts: appointment of judges

Banking Courts III, and IV Karachi are vacant for long an no judge has been appointed so far. There are five banking courts functioning in Karachi where banks, development financial institutions, leasing companies, etc, are approached for filing of suits for recovery of amounts in terms of special recovery law such as the Financial Institution (Recovery of Finances) Ordinance-2001 including Amended Act-2016.
As per practice, the linked judges have been deputed to hear the cases where courts fell vacant but the present honourable judges of the remaining three courts are much busy in their courts and selected cases are being heard. Cases are often adjourned with long dates; hence various suits and executions are pending. The Special Recovery Laws was promulgated for smooth and speedy trials. It was also aimed at dealing with recovery process of the bank loans and loan defaults. A smooth recovery process would result in growth of a healthy credit culture.
In terms of Clause 5 of sub section 4 of Financial Institution (Recovery of Finances) Ordinance-(Amendment) Act-2016 that a Judge of Banking court shall be appointed by the Federal Government after consultation with the Chief Justice of the Hon'ble High Court of the province in which the Banking Court is established and no person shall be qualified for appointment as the Judge or Banking Court unless he is qualified to be District Judge. Similarly, in accordance with sub section 10 of section 5 of Amendment Act-2016 A Judge of Banking Court shall submit to the Chief Justice of the High Court of the Province in which the Banking court is established, reports on quarterly basis would be comprising of the number of cases filed, heard and disposed of by the Banking Court during each relevant quarterly period.
It is suggested that the copies of every quarterly report should be sent to Governor State Bank of Pakistan as a Regulatory Authority of banks and other financial institutions in Pakistan, including SECP, to have close monitoring. It is also proposed that a website may be designed in banking courts - division-wise in each province - where Cause Lists may be shown of all cases that are fixed for next day/date. Similar websites are functioning in high courts where litigants could see their cases . Appreciation Certificates and awards should be announced for banking courts judges who decide their cases in time limit as specified in the Recovery Ordinance-2001 for disposal of cases in true legal spirit; especially, section 13 of Ordinance indicated that a suit where leave is granted shall be disposed of within 90 days. It is further provided that Court shall not allow adjournment for more than seven days. Judiciary's role towards providing justice is much appreciated.