Supreme Court: HBL’s privatisation challenged

Lawyer submits that rules were violated while privatising the bank because the sale was not properly advertised.

LAHORE: Tasneem Shaukat Khan, Watan Party Women Wing president, filed a petition on Saturday before the Supreme Court’s Lahore registry challenging the privatisation of Habib Bank Limited (HBL). Petitioner’s counsel Barrister Zafarullah Khan stated that the HBL was privatised during General (retired) Pervez Musharraf’s rule in 2004. He said that the bank was given to Agha Khan Economic Development Fund at a “throwaway price”. Barrister Khan also submitted that rules were violated while privatising the bank because the sale was not properly advertised.

Published in The Express Tribune, March 11^th, 2012.