ISLAMABAD: The Supreme Court Wednesday announced the detailed judgment in privatization of Habib Bank Limited case and declared the privatization process according to the statutory provisions saying "it does not reflect violation of any statutory provisions".
The Supreme Court said that the approval of the privatization of Habib Bank Limited by the Cabinet Committee on Privatization was within the purview of Privatization Commission.
Watan Party through its president Barrister Zafarullah Khan and Dr. Akhtar Hassan Khan challenged the privatization of Habib Bank Limited (HBL) in the Supreme Court through constitutional petitions under Article 184 (3).
The 70 paged detailed judgment was announced which has been authored by Justice Tassaduq Hussain Jillani.
The bench said that neither the process was tainted with lack of transparency or malafides nor the successful bidder lacked qualifications prescribed in law.
According to the judgement, both the petitions were dismissed by the bench and declared the privatization process legitimate.
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