PSO flourished under the tenure of MD PSO appointed by Khaqan: SHC

KARACHI: The Sindh High Court on Friday observed that Pakistan State Oil had flourished under the tenure of former managing director Sheikh Imranul Haq, whose appointment caused the filing of National Accountability Bureau reference against former petroleum minister Shahid Khaqan Abbasi and others for causing a loss to the national exchequer.

Issuing a detailed judgment on bail petitions of former petroleum minster Shahid Khaqan Abbasi and others whose pre-arrest bails were earlier confirmed in the short order, the SHC’s division bench, headed by Justice Mohammad Karim Khan Agha, observed that PSO did not make any losses and in fact in certain areas became more profitable in the tenure of petitioner Sheikh Imranul Haq, who was cited as an accused in the NAB reference.

The court observed that malafide is very hard to prove and as such it can also be inferred from the fact and circumstances of the case and in this case the court made such an inference of malafide by the NAB against the petitioners co-accused in NAB reference, who are on pre-arrest bail and who are in one way or another associated with Shahid Khaqan Abbasi.

The court observed that there was no evidence on record that Abbasi influenced the-then prime minister’s decision and if NAB’s allegation against Abbasi is to be believed, then the PM should also have been added to the reference. The court observed that considering the turnover/profit of PSO, which was far higher than any other oil marketing company in Pakistan, the salary of MD PSO although high was not excessive.

The court observed that the fact Abbasi might have had an eye on moving PSO into the LNG business has not been proved and not particularly significant as petitioner Imran was fully qualified to be MD PSO even if it did not move into the LNG business.

The court observed that the allegation with regard to illegal appointment of former MD PSO and loss to the state was case of further inquiry whereas NAB’s theory on the real reason to appoint Imranul Haq in PSO and later into LNG business by dissolving the board of management on a fake pretext will only be determined after evidence has been led at trial.

The court observed that it was the federal government acting through the former PM and not the petroleum minister who dissolved the BOM of PSO on account of petrol crises contrary to the NAB allegation.

The court also questioned the jurisdiction of NAB in the case observing that so-called loss in salary of around Rs.5.7 million per month in appointment of managing director Pakistan State Oil is relatively inconsequential, keeping in view the fact that NAB’s mandate is to investigate mega corruption cases involving billions of rupees.