The three-member bench by Justice Anwar Zaheer Jamali comprising Justice Ejaz Afzal Khan and Justice Qaiz Faez Isa heard the case and ordered to release Rao Shakeel on bail after he submitted a surety bond worth Rs10 million.
Shakeel, who is former Director General Hajj Affairs, has been under arrest since last four years.
Shakeel, served as the Director General (DG) Hajj Affairs back in 2010.
He, along with former federal minister for religious affairs Hamid Saeed Kazmi and ex-additional secretary ministry of religious affairs Raja Aftabul Islam, was accused of causing a loss worth millions to the national exchequer during the Hajj season in that year.
Shakeel and Islam were indicted by court under sections 109, 409, 420, 468, 471 of Pakistan Penal Code (PPC) and 5 (2) 1947 of Prevention of Corruption Act (PCA) for fraud, cheating, misuse of authority and causing loss to the national exchequer and the public at large by hiring residences in Saudi Arabia.