Abb Takk News

SC Annuls IHC Verdict On Benazir Stock Option Employees Scheme

Islamabad: Supreme Court of Pakistan annulled Islamabad High Court (IHC) verdict to issue funds under Benazir stock option employees scheme from 2013 to 2019.

A larger bench of the SC headed by Chief Justice Gulzar Ahmed heard the provision of funds to the government employees under the Benazir stock option employees scheme.

Additional attorney general Sohail Mahmood told the court that the PPP government back in 2009 decided to give 12 percent shares of the government companies to the employees. The provision of profit to the employees stopped after the change of the government in 2013 while the incumbent government ended the scheme but the IHC has ordered to provide payments from 2013 to 2019 under the scheme.

Justice Aijaz Ul Ahsan reminded that Sindh High Court (SHC) had declared entire scheme as against the law.

Chief Justice remarked that the financial conditions of the government is disturbed due to such schemes adding that the rulers distributed the government money as election stint thinking is as a personal money.

Chief Justice said that it was also happened that people were given 15 years salaries and perks and privileges.

The court annulled the IHC verdict to provide payments to the employees from 2013 to 2019 under the Benazir stock option employees scheme.