Pardon in banking cases being given under NRO

[LRE]

Pardon in banking cases being given under NRO



Tuesday, July 29, 2008
By our correspondent

ISLAMABAD: The grant of pardon to a former banker and a Pakistani businessman based in Dubai under the notorious National Reconciliation Ordinance (NRO) has raised many eyebrows in the banking sector, The News has learnt reliably.

The cases against these two gentlemen were withdrawn by the Federal Review Board in June, days ahead of a hearing by the Supreme Court. In addition to the above-mentioned high-profile case, there are other cases as well in the banking where the Federal Review Board is granting pardon.

The withdrawal of such cases has raised alarm bells among the local and foreign bankers as the accused are being given pardon in those cases which are being heard by the superior courts for the past many years.

However, a number of such cases have been transferred to the Federal Review Board and cleared under the NRO. This would benefit the businessmen and bankers who were closer to the previous governments.

Financial-sector sources claim that if cases of alleged financial misappropriation are dealt under the NRO, the ultimate sufferer will be the depositors. These cases are being prosecuted by the government and the banks concerned.

According to legal experts, the withdrawal of cases in the banking sector is beyond the NRO scope. The bankers said that the government should let the normal legal process take its course and should not open the NRO window in the banking cases as the millions of dollars involved in these cases belong to the depositors.

The documents available with The News confirm that the Federal Review Board is passing orders without giving the complainant a fair hearing. The defendants have lodged the plea with the FRB that they are being politically victimised.

However, during the past many years when the superior courts were hearing these cases, the defendants never said they were being politically victimised. Legal experts believe that under the NRO, the government cannot withdraw cases filed by private banks and parties. "This would curtail the powers of the superior judiciary," he said.

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