| Case ID |
4273c679-d4cc-4a08-9166-1295005d8ea8 |
| Body |
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| Case Number |
Constitutional Petitions Nos. 5 and 15 of 2004 |
| Decision Date |
Nov 29, 2011 |
| Hearing Date |
Oct 27, 2011 |
| Decision |
The Supreme Court dismissed the constitutional petitions challenging the privatization of Habib Bank Limited (HBL). The court held that the privatization process was conducted legally and with due diligence. The petitioners' claims that the process was rushed and influenced by the International Monetary Fund (IMF) were found to lack concrete evidence. The court emphasized that the decision to privatize was taken by the competent authority backed by law, and any suggestions of mala fides or undue haste were deemed insufficient to warrant judicial intervention. The court recognized the financial difficulties faced by HBL prior to privatization and noted that the steps taken by the Privatization Commission were aimed at ensuring the bank's viability and preventing economic collapse. The court ruled that the privatization process adhered to the relevant laws and regulations, and the approval of the highest bid was within the commission's purview. The petitioners' arguments regarding the valuation of HBL and the transparency of the bidding process were also dismissed, reinforcing the legitimacy of the privatization exercise. |
| Summary |
This case involves the Supreme Court's ruling on the privatization of Habib Bank Limited (HBL) through open bidding. The petitioners argued that the process was conducted hastily and under pressure from the IMF, alleging a lack of transparency and mala fides in the actions of the Privatization Commission. The court reviewed the timeline of events leading to the privatization, including the financial struggles of HBL prior to its sale, and the measures taken by the government to prepare the bank for privatization. The court concluded that the privatization was lawful, well-documented, and aimed at enhancing the bank's financial stability. The decision reinforces the principles of judicial restraint in matters of executive policy-making and affirms the legitimacy of the privatization processes undertaken by the government. Key terms include privatization, judicial review, financial management, and transparency in public sector transactions. |
| Court |
Supreme Court of Pakistan
|
| Entities Involved |
Privatization Commission,
Habib Bank Limited,
Agha Khan Foundation for Economic Development
|
| Judges |
TASSADUQ HUSSAIN JILLANI,
MIAN SAQIB NISAR,
EJAZ AFZAL KHAN
|
| Lawyers |
M. Ikram Ch. Senior Advocate Supreme Court,
Barrister Zafarullah Khan, Senior Advocate Supreme Court,
Ch. Aitzaz Ahsan, Senior Advocate Supreme Court,
Barrister Gohar Ali Khan,
Makhdoom Ali Khan, Senior Advocate Supreme Court,
S.M. Zafar, Senior Advocate Supreme Court,
Syed Iftikhar Hussain Gillani, Senior Advocate Supreme Court,
Maulvi Anwar ul Haq, Attorney-General for Pakistan
|
| Petitioners |
others,
Dr. AKHTAR HASSAN KHAN
|
| Respondents |
FEDERATION OF PAKISTAN,
others
|
| Citations |
2012 SLD 1451 = 2012 SCMR 455
|
| Other Citations |
Not available
|
| Laws Involved |
Privatization Commission Ordinance (LII of 2000),
Constitution of Pakistan
|
| Sections |
Preamble,
Part V,
Art. 184(3)
|