Orders Of President Of Nation Bank Of Pakistan by Supereme court
Syed Ali Raza's Reappoinment as president of NBP Declared to be unconstitutional
by the way of notice April 10,2010.remember this order was issued by 3 bench comprising chief
justice Iftikhar Mohammad Chaudhry, Justice Ghulam Rabbani and Justice Khalilur Ramday.
They issued the order on joint petition filed by Mir Muhammad Idris and others challenging the validity of
reappointment of Mr Raza who was on an extension for the fifth time.
His 1st appoinment was made in 2000 and extend in july for another 3 years.
In 2003 he was once again been reappoinmented for the next three years and again
means till 2009.He was givin an extention till july 2010 and now till 2011.
There is no justification for his reappointment asthe bank`s annual profit has been declining since 2007.”
said by Advocate Manzor Qadir.
Under section 11(3)(d) of the Banks (Nationalisation) Act 1974, the counsel said,under the law no one can be
prsident of NBP even More than 2 terms but it happend due to illegal Laws of Government 2007 under Musharaf.
The counsel placed the July 31 Supreme Court judgment holding Nov 3, 2007, emergency illegal in his support.
The court, however, preferred not to discuss allegations relating to written off loans during Mr Raza`s period \
because the case is seized with a similar matter in a different case.