ISLAMABAD: The Islamabad High Court has issued a show-cause notice to the collector how for failing to return seized gold bars. The case concerning the return of the seized gold bars was heard by the Islamabad High Court.
The court expressed dissatisfaction with the offer to pay approximately Rs4.8 million in exchange for the gold bars and issued a show-cause notice to the collector, seeking a response within two weeks. A division bench comprising Justice Sardar Ejaz Ishaq and Justice Arbab Muhammad Tahir issued an order in the case. Citizen Waqar-un-Nisa has filed a contempt of court petition.
According to the order, the petitioner was to be returned the gold bars, not paid money in their place. The petitioner’s counsel said that the payment had been calculated according to the 2023 gold price instead of its current value.
He questioned why the state should benefit from the increase in gold prices while the petitioner bears the loss.
According to the order, the court was informed that the gold bars had been handed over to the State Bank of Pakistan and could no longer be recovered.
Section 169(4) of the Customs Act concerns the sale of confiscated goods and the safekeeping of the proceeds; the relevant legal provision does not mention the irrevocable transfer of confiscated gold to the State Bank.
The court stated in its order that no satisfactory explanation had been provided as to why the petitioner would receive less than the current value and why the state would benefit from the increase in price. The petitioner maintained that the gold could not be confiscated until smuggling was proven.
Declaring the response of the relevant authorities unsatisfactory, the court issued a show-cause notice to the collector and directed him to submit a response within two weeks. The court adjourned further proceedings until Nov.
2. It may be recalled that the Islamabad High Court had ordered the gold to be returned to the petitioner within two weeks. A contempt petition was filed after the court’s order was not implemented.
