SC orders govt to pay Rs60bn to NBP pensioners

ISLAMABAD: The Supreme Court of Pakistan has dismissed the review petition of the National Bank of Pakistan and ordered the government bank to pay Rs60 billion to 11,500 pensioners.

In 1999 when the NBP management, through an order, reduced pensions to nearly 33%, despite an earlier pension scheme launched by the federal government in 1977, the retired employees had challenged it in the Supreme Court.

In September 2017, the Supreme Court issued an order directing the state-owned bank to boost pensions for its retired employees. However, the bank filed a review petition with the apex court in early 2018, initiating a protracted legal battle that has left retirees in financial limbo.

However, a three-member bench headed by Justice Mansoor Ali Shah and consisting of Justice Athar Minalla and Justice Muhamad Ali Mazhar dismissed the NBP’s review plea and directed the government to pay the dues within one month.

The Supreme Court dismissed the review petition after six years and has maintained its previous verdict to grant pensions to the employees.

Salman Akram Raja, the counsel for the NBP retired employees, expressed his jubilation after the court verdict saying that the apex court set the precedent that in this country, the poor also have rights. He hoped that the government would release the funds according to the Supreme Court order.