The appointment of the Governor of the State Bank of Pakistan Tariq Bajwa has been declared as legal by the Islamabad High Court (IHC) on Tuesday.
The judge of the Islamabad High Court (IHC) Justice Miangul Hassan Aurangzeb has dismissed a petition filed by as many as 22 senators seeking removal of the State Bank governor.
The President of Pakistan Mamnoon Hussain has appointed Mr. Bajwa as the governor of the central bank of Pakistan on July 7, 2017. The governor was appointed for the period of 3 years starting from the day he took over his new responsibilities.
The senators – who challenged the appointment of governor last year belongs to various known political parties of the country, including the Pakistan Tehreek-e-Insaf (PTI), the Pakistan People’s Party (PPP), the Muttahida Qaumi Movement (MQM) and the Awami National Party (ANP).
The senators – seeking the removal of governor state bank alleged that the government of Pakistan Muslim League-Nawaz (PML-N) had ignored the legal requirements and procedures for the appointment of the governor of the State Bank of Pakistan.
The petitioners have urged the court that the appointment of the governor was unlawful and requested the Islamabad High Court (IHC) to declare Mr. Tariq’s appointment as unlawful and illegal.
The opposition [of that time] had also move a resolution seeking immediate removal of the state bank governor to the Finance Ministry of that time. However, the ministry issued the statement saying that the appointment of the SBP governor was made in accordance with the State Bank Act 1956.