Younus Habib, man behind Mehran Bank scandal, passes away at 78

KARACHI: Younus Habib, one of the primary characters in the Asghar Khan case, passed away here on Wednesday at the age of 78.

Habib had been suffering from cancer since a long tie and was admitted in Karachi’s Aga Khan Hospital where he breathed his last.

He had served as the head of Mehran Bank, a scandalous financial institution which was used to dole out money to former Prime Minister Nawaz Sharif and other politicians during 1990 elections.

He had also served as the president of National Bank of Pakistan.

Habib had admitted to his act of financing the politicians to manipulate elections before the Supreme Court in 2012 in the case filed by Air Marshal (retd.) Asghar Khan.

What is the Asghar Khan Case?

In 1996, Air Marshal (retd) Asghar Khan wrote a letter to the then Chief Justice of Pakistan Nasim Hassan Shah.

In this letter, he alleged that the then president Ghulam Ishaq Khan, then Army Chief General Mirza Aslam Beg, then ISI Director General Lt Gen Asad Durrani, as well as the owner of now-defunct Mehran Bank Younus Habib had distributed Rs 140 million among several politicians to manipulate the 1990 polls to defeat Benazir Bhutto.

After the passage of more than a decade following the matter having brought to the apex court, it gave a 141-page landmark verdict on October 19, 2012, declaring that 1990 elections were rigged.

It ordered the Federal Investigation Agency (FIA) to investigate the matter and if evidence was found against anyone, action should be taken against them.

The court held that there was sufficient evidence to suggest that the 1990 election was rigged and that a political cell maintained by the then president Ghulam Ishaq Khan at Presidency supported the formation of the IJI to stop a victory of the PPP.

It found Ghulam Ishaq Khan, Baig and Durrani guilty of violating the constitution.