Business & Finance

SC summons president ABL, imposes fine

ISLAMABAD: Supreme Court on Wednesday summoned president Allied Bank, Limited (ABL) in-person while imposing Rs. 2,0
Published January 17, 2018 Updated January 17, 2018 09:40pm

ISLAMABAD: Supreme Court on Wednesday summoned president Allied Bank, Limited (ABL) in-person while imposing Rs. 2,000,00 on him as fine for non appearance.

A three bember bench headed by Chief Justice Mian Saqib Nisar remarked that pensioners were depressed so the authorized persons should be a helping hand for them instead of a source of creating barriers.

The chief justice also raised questions on the privatization of United Bank Limited remarking that it seemed prima facie that the privatization of the bank was not made according to rules and regulations.

The chief justice observed that a president of a bank was receiving three to five million rupees as salary but not ready to pay a hundred rupees to the poor pensioners.

CJP remarked that "how I can say Khushhal Bibi, an old pensioner to be "Khushhal" (happy) in Rs. 243 which was just fare of a Rickshaw (Cab) to her home to the bank".

Meanwhile, the chief justice also restrained Sulman Aslam Butt counsel for a litigant from citing precedents of Indian Supreme Court and remarked that Indian courts did nothing as compared to our courts for Human Rights.

Subsequently the bench adjourned further hearing of the case till January 18.

Copyright APP (Associated Press of Pakistan), 2018