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SC resumes hearing of FCAs, Hubco-Wapda cases from today

RECORDER REPORT

ISLAMABAD: Two very important cases are to come up for hearing before special benches of the Supreme Court from Monday.

The first will be the case of the foreign currency accounts before the court of the Chief Justice Irshad Hassan Khan in which the petitioner Saiyid Munir Huda Chowdhary and his bankers are to announce if they have been able settle his request for refund of $1.5 million.

On the basis of private negotiations between Chowdhary and his bankers, the Citibank, the Court had adjourned the case for a week. The Attorney General and the State Bank of Pakistan are also helping in the resolution of the case which is pending before the court since last summer.

The second case is the litigation between Hubco and Wapda against each other on the question of international arbitration and encashment of the sovereign guarantee and also requests for payment of arrears against the purchase of electricity which run into billion of rupees.

The case of Hubco-Wapda being represented by leading lawyers is before a five-member special bench of the Supreme Court. The last hearing of this case was held a week ago.

The bench had expressed it displeasure with the lawyers for ducking their original case, which is an appeal against the stay granted by the Sindh High Court against arbitration and the threat for encashment of sovereign guarantee and raising extraneous questions.