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IHC Declares Appointment of SBP Governor Legal

Islamabad (July 17, 2018): Appointment of Tariq Bajwa as Governor of State Bank of Pakistan has been declared lawful by Islamabad High Court.

Justice Mian Gul Hassan Aurangzeb of the IHC dismissed a petition filed by 22 senators challenging the appointment of the SBP Governor.

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Tariq Bajwa was appointed as the central bank Governor by President Mamnoon Hussain on July 7, 2017 for a period of 3 years starting from the day he assumed his new responsibilities.

The senators belonging to various political parties, including the Pakistan Peoples Party (PPP), the Pakistan Tehreek-e-Insaf (PTI), the Muttahida Qaumi Movement (MQM) and the Awami National Party (ANP) moved the high court against the appointment last year.They alleged that the then Pakistan Muslim League-Nawaz (PML-N) government ignored legal requirements and procedures for the appointment of the central bank governor.

The petitioners argued the appointment was unlawful, and of no legal effect and requested the IHC to declare Bajwa’s appointment as illegal and unlawful.

A resolution seeking immediate removal of the SBP governor was also moved by the opposition at that time. However, the ministry of finance issued a statement saying the appointment was made in accordance with the State Bank Act 1956.

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