With the directives to facilitate business community, the Supreme Court of Pakistan Friday ordered the provincial government of Punjab to return bank guarantees to the mills exporting flour. A three-judge bench headed by Justice Mushir Alam heard the case.
Justice Alam remarked that it is quite unfortunate to see that the hurdles are being created for the exporters despite claims of facilitating them. "On one hand, it is said that facilities will be provided to business community while on the other, difficulties are being created for them," he remarked. The counsel for flour mills told the court that bank guarantee has been deposited in dollars. The State Bank of Pakistan also confirmed the exchange of bank guarantee into local currency. Director Food Punjab took the plea that flour mills could not satisfy the food department, on which Justice Qazi Faez Esa said, "Which documents had you asked for your satisfaction?" "I don't know what kind of satisfaction you want," Justice Esa further remarked. The court while rejecting the plea of Punjab government against the court orders for returning the bank guarantee to flour mills owners disposed of the case.
Copyright Business Recorder, 2019
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