The Federal Constitutional Court (FCC) on Wednesday directed all parties involved in the long-pending Employees’ Old-Age Benefits Institution (EOBI) corruption case to submit a workable proposal for resolving the dispute at the next hearing, observing that the matter has remained unresolved for more than a decade.
Court Proceedings
A two-member FCC bench, headed by Chief Justice Amin-ud-Din Khan, heard the case. During the proceedings, the Chief Justice remarked that all stakeholders were participants in the “sins and virtues” of the EOBI case and questioned what practical solution could be devised for a matter that has remained pending since 2013.
Background of the Case
Barrister Ali Zafar informed the court that the case originated from a suo motu notice taken by the Supreme Court regarding the alleged purchase of 18 properties by EOBI at prices significantly higher than their market value. He said market valuations of the properties had been conducted in compliance with judicial directions. He submitted that a plot on Lahore’s Mall Road had been purchased for Rs790 million, whereas experts had assessed its value at Rs540 million at the time of the transaction. The property’s value has since appreciated to around Rs2.3 billion, he added.
EOBI’s Stance
The counsel said EOBI wished to retain certain properties while recovering money in lieu of others. However, his client was being pressured to both return the property and repay the allegedly excessive amount received in the deal. Former EOBI chairman Zafar Gondal also appeared before the court and requested that no decision be taken without hearing his stance, noting that his counsel was absent from the proceedings.
Court’s Assurance
Chief Justice Amin-ud-Din Khan assured the parties that the court harboured no bias and that everyone would be given a full opportunity to present their case. He stressed that no final determination would be made without hearing all concerned parties. The court observed that the market value of the properties had changed considerably since the transactions were executed and directed all stakeholders to formulate a practical proposal for resolving the dispute. The hearing was adjourned until after the summer judicial vacations.
Lahore Police Security Plan
In a separate development, Lahore police unveiled a comprehensive Muharram security plan for 458 processions, ensuring strict security measures to maintain law and order during the holy month.
