LAHORE: The Lahore High Court (LHC) has stopped the National Accountability Bureau (NAB) from passing final order on an inquiry pertaining to the privatization of Muslim Commercial Bank.
Justice Shamas Mehmood Mirza heard initial arguments and stopped NAB from issuing final order on inquiry and sought replies from the NAB chairman, law ministry and privatization commission.
In a case of privatization of one of Pakistan’s largest bank, the court restrains NAB to pass orders as the chairman and directors approached tje LHC against continuous summoning from NAB in connection with the ongoing inquiry.
They pleaded through their lawyer that they purchased bank in auction after fulfilling all requirements. They pointed out that under section 42 of Privatization Commission Ordinance, an investigation agency could probe into within one year time but NAB has initiated inquiry after lapse of several years which is violation of section 42 of the ordinance.
They said NAB continuously served notices on them to appear before inquiry officers, and requested the court to suspend the notices.
The Lahore High Court sought replies from chairman NAB, law ministry and privatization commission up to October 20.
