| Case ID |
10827971-0e2c-4abb-927b-dd1b03e13da2 |
| Body |
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| Case Number |
Writ Petition No. 3795 of 2013 |
| Decision Date |
Apr 07, 2014 |
| Hearing Date |
|
| Decision |
The petition was dismissed on the grounds that the petitioner, having established a letter of credit prior to the promulgation of the new Import Policy Order, was attempting to circumvent the new regulations. The court found that the issuance of a revolving letter of credit, as sought by the petitioner, was not permitted without the State Bank's approval. The petitioner’s arguments were deemed to undermine the implementation of the new policy. Thus, the court upheld the new Import Policy Order, 2013, which restricted imports to vehicles not older than five years, and the petitioner’s claim was rejected. |
| Summary |
In the case of Writ Petition No. 3795 of 2013, the Islamabad High Court addressed the legal complexities surrounding the importation of sprinkler lorries under changing import policies. The petitioner, Haji Abdul Raziq Khan, contended that he had established a letter of credit before the new Import Policy Order, 2013, which imposed stricter regulations on the import of vehicles over five years old. The court examined the Foreign Exchange Manual and the Import Policy Orders, concluding that the petitioner failed to comply with the required procedures for opening a revolving letter of credit. The decision emphasized the importance of adhering to regulatory frameworks in international trade and import practices, ensuring that financial instruments like letters of credit are utilized within legal boundaries. This case underscores the critical role of the State Bank of Pakistan in overseeing import financing and the necessity for businesses to align their operations with current legal standards to avoid disruptions. |
| Court |
Islamabad High Court
|
| Entities Involved |
Federal Board of Revenue,
State Bank of Pakistan,
Collector of Customs,
Meezan Bank Ltd.
|
| Judges |
RIAZ AHMAD KHAN, J
|
| Lawyers |
Mian Abdul Ghaffar,
Khawaja Azhar Rasheed,
Liaqat Ali,
Raja Khalid Mahmood Khan,
Raja Muhammad Iqbal,
Ms. Misbah Gulnar Sharif,
Qazi Ghulam Dastgir
|
| Petitioners |
Haji ABDUL RAZIQ KHAN
|
| Respondents |
FEDERATION OF PAKISTAN,
|
| Citations |
2014 SLD 2123 = 2014 CLD 975
|
| Other Citations |
Not available
|
| Laws Involved |
Foreign Exchange Manual, 2013,
Import Policy Order, 2013,
Import Policy Order, 2009,
Constitution of Pakistan
|
| Sections |
Chapter XXIII, Ss. 14, 9, 5 & 16,
Section 4,
,
Article 199
|