Unconstitutional appointment: SC tells NBP president to quit

Ali Raza has been ordered to vacate the office of the bank's president with immediate effect.


Qaiser Zulfiqar January 15, 2011

ISLAMABAD:


The Supreme Court on Friday declared the appointment of National Bank president Ali Raza unconstitutional and directed him to leave his post immediately.

A three-member bench of the apex court headed by Chief Justice Iftikhar Muhammad Chaudhry and comprising Justice Ghulam Rabbani and Justice Khalil-ur-Rehman Ramday announced the reserved verdict on a petition of Mir Muhammad Idris who had challenged the validity of the reappointment of Syed Ali Raza as President of the National Bank of Pakistan (NBP) for a fifth time for one year.

The court after detailed hearing had reserved its ruling in the matter on January 4, 2011.

At the time of announcement of the verdict, Malik Manzur Qadir, counsel for the petitioner, section officers of the ministry of finance and employees of NBP regional headquarters were also present in the court.

The appointment of Ali Raza was challenged in Supreme Court in August 2010. During the course of hearing, the petitioner’s attorney Manzur Qadir had argued that according to the Nationalisation Act, National Bank president can only be appointed for two terms but former President General (retd) Pervez Musharraf had issued ordinance for Syed Ali Raza’s appointment while the present government also extended the period of his appointment till June 20, 2011.

He also informed the court that there are serious allegations of corruption against Mr Raza, including one relating to loans’ write-off to the tune of Rs26 billion.

The petitioner made the federation, Ministry of Finance, National Bank of Pakistan and President of National Bank as respondent in his petition.

Published in The Express Tribune, January 15th, 2011.

COMMENTS (14)

Ahmed Jalil | 13 years ago | Reply You guys clearly don't know what u are talking about . Ali raza is the most successful president in NBP history and pakistan s banking history. There is a reason he was appointed by four different governments for over a decade and the reason is obvious if any see's the NBP numbers. He saved a dying bank with a profit of less than 1 billion and took it to 30 billion in 5 years. He is world renowned and been recognized by all major banking publications and is counted amongst the top 25 bankers in asia. he has been on the cover of businessweek and made NBP the strongest bank in the country. He has made more money for pakistan than any other public servent and in his decade long term there has not even been one corruption scandal of any kind in NBP. These facts are known to everyone in the financial sector... dont u guys not know anything about your country. ali raza is undoubdtly regarded as the most successful, honest and best banker in the country...and that is not debatable. and the courts decsion had to do with the govts appointment process not ali raza who is a pakistani hero we should be proud of
Jamal | 13 years ago | Reply One should see the things might be happening behind the scene. Who will be the next pick as NBP President?
VIEW MORE COMMENTS
Replying to X

Comments are moderated and generally will be posted if they are on-topic and not abusive.

For more information, please see our Comments FAQ