ISLAMABAD: The Islamabad High Court (IHC) on Monday dismissed a petition seeking to restore suspended National Bank of Pakistan (NBP) president Saeed Ahmed.

The PTI government suspended Mr Ahmed last month. He is currently facing a reference in an Islamabad accountability court alongside former finance minister Ishaq Dar.

However, the Aug 28 Finance Division notification of Mr Ahmed’s suspension did not state a reason, and simply said: “Mr Saeed Ahmed President/Chief Executive Officer National Bank of Pakistan is placed under suspension with immediate effect and until further order.”

Mr Ahmed had in turn challenged the suspension in the high court, but Justice Athar Minallah dismissed his petition on the grounds that extraordinary jurisdiction to provide instant relief to the petition cannot be invoked since the reference against Mr Ahmed is pending before a court.

Mr Ahmed had, through his counsel Faiz Rasool Jalbani, challenged the federal cabinet’s notification that suspended him on a request from the National Accountability Bureau (NAB).

The petition stated that Mr Ahmed’s appointment was contractual in essence, and he had not breached any of the terms fixed by the government in view of section 11(3)(a) of the Banks (Nationalisation) Act.

Mr Jalbani said the petitioner had neither done nor been alleged to have done the acts or omissions that may render him liable to removal in view of sections 11(3)(b)(c) and 11(12) of the Banks Act.

The deputy attorney general argued that Mr Ahmed had been suspended because he is facing a reference related to money laundering that is pending before the accountability court.

Mr Jalbani pointed out that the allegations against Mr Ahmed were hearsay and there was no recorded evidence against his client. He said Mr Ahmed was abroad and was not operating any account when the alleged crime occurred.

Justice Minallah asked the counsel whether Mr Ahmed would voluntarily step down until he is cleared, since he is facing a serious allegation. Mr Jalbani responded that Mr Ahmed was working on a two year contract that is to expire in January 2019.

He insisted the court set aside the suspension and restore Mr Ahmed, allowing him to complete the remainder of his term.

However, the court was not convinced by the arguments and dismissed the petition.

Mr Ahmed has been nominated as a co-accused and charged with opening accounts allegedly used by Mr Dar for money laundering. Mr Dar has been declared a proclaimed offender by the accountability court.

According to the NAB reference, the investigation had revealed that the “accused Saeed Ahmed was one of the directors of Hajveri Modaraba Management Company and 7,000 shares in Hajveri Holding (Pvt) Limited were transferred in his favour from the wife of the principal accused [Mohammad Ishaq Dar]”.

NAB said seven bank accounts were opened in Mr Ahmed’s name according to its investigation, and were prima facie used to benefit the former minister and his companies.

Published in Dawn, September 25th, 2018