Pakistani SC orders Haris Steel industry to pay PKR 500 million
Sunday, 06 Sep 2009
Dawn reported that the Supreme Court has directed Haris Steel Industries to pay PKR 500 million and hand over property of equal value to the Bank of Punjab till September 9th 2009. The court also adjourned the hearing till September 10th 2009 to decide about the matter of payment of the remaining PKR 8 billion.
A 3 member SC bench headed by Mr Iftikhar Muhammad Chaudhry Chief Justice of Pakistan and comprising Justice Mr Ghulam Rabbani and Justice Mr Jawad S Khawaja resumed the hearing of the case.
At the inception of the hearing, Mr Waseem Sajjad counsel for Haris Steel Industries took the plea that Mr Sheikh Munir Ahmad CEO of the mill would deposit PKR 200 million in the Bank of Punjab today and the remaining amount of PKR 300 million would be paid before September 9th 2009. He said that the details of property valuing PKR 500 million had been worked out and a list has been charted out in this respect which would be handed over to the bank.
Mr Khawaja Haris advocate appeared on behalf of the government of Punjab. He said that the property was already in the possession of the government.
Justice Mr Jawad S Khawaja remarked the cost of this property would have to be got assessed to ascertain its actual price.
Mr Khawaja Haris advocate submitted representatives of the government of Punjab and the State Bank of Pakistan had already evolved the estimated price of the land.
Presenting a miscellaneous application before the court, Mr Khawaja Haris advocate took the plea that Mr Ali Ejaz, Mr Irfan Ali and Mr Muhammad Sohail were not cooperating with NAB in the investigation process. The CJP ordered the 3 persons to cooperate with NAB during its investigation.
Mr Waseem Sajjad advocate contended that false allegations of obtaining a loan of one billion rupees had been levied against Mr Haris Afzal. The CJP remarked that he should be presented in the court if he was innocent. Mr Waseem Sajjad contended that a red warrant had been issued and he would be presented in the court if the warrants were withdrawn.
