Dismissing a plea filed against elimination of Riba from the country's financial system on Tuesday, the apex court observed that earlier the matter had been referred for adjudication to Federal Shariat Court. Hafiz Akif Saeed, Ameer Tanzeem-e-Islami had filed the petition challenging the Riba in the financial system of the country, making Prime Minister Nawaz Sharif and others as respondents.
The Registrar Supreme Court had raised objection over the plea to which Saeed filed miscellaneous appeal against the order in the matter. Appearing before a three-judge bench of Justice Mian Saqib Nisar in the matter, the counsel for Hafiz Akif Saeed contended before the bench that it's the constitutional responsibility of the government to reduce disparity in the income and earnings of people of various classes of Pakistan.
He further said that the concerned authorities failed to fulfil the constitutional responsibility to eliminate Riba from the financial system of the country saying Riba was still institutionalised in the financial system of Pakistan.
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