IHC issues notices on petition against SBP governor's appointment

ISLAMABAD: The Islamabad High Court (IHC) on Monday issued notices to the federal authorities to submit their response on a petition filed by as many as 23 senators challenging the appointment of the State Bank of Pakistan (SBP) governor.

A bench of the IHC directed the official respondents to submit their response on next hearing and directed the court office to fix the matter for hearing after two weeks.

The senators belonging to the Pakistan Peoples Party (PPP), the Pakistan Tehreek-e-Insaf (PTI), the Muttahida Qaumi Movement (MQM) and the Awami National Party (ANP) have moved the high court against the appointment of Tariq Bajwa as SBP governor.

Advocate Sardar Latif Khosa, representing the petitioners, alleged the Pakistan Muslim League-Nawaz (PML-N) government ignoring the legal requirements and procedures for the appointment of the central bank governor.

He argued that the appointment was illegal, and of no legal effect and requested the judges to declare his appointment illegal and unlawful.

Earlier, the opposition in the Senate had moved a resolution seeking immediate removal of the SBP governor. However, the ministry of finance issued a statement saying the appointment was made in accordance with the State Bank Act 1956.

On July 7, last year, the federal government appointed former finance secretary Tariq Bajwa as  new governor of the State Bank of Pakistan (SBP) after the post fell vacant following the retirement of Ashraf Mahmood Wathra.