SC Orders NBP to Pay Rs. 60 Billion in Pensions to Retired Employees Within a Month

The Supreme Court of Pakistan on Wednesday dismissed the review petition of the National Bank of Pakistan (NBP) while maintaining the verdict in which it had ordered the bank to pay pensions to its 11,500 retired employees. The court ordered the NBP to pay the due amount of Rs. 60 billion to the retired employees within one month, state news agency APP reported. A three-member bench headed by Justice Mansoor Ali Shah announced the verdict after hearing arguments from the respondent. It is pertinent to mention here that the NBP had moved a review petition to the SC against the verdict in which it had ordered the bank to pay the pension amount to the retired employees. In September 2017, the Apex Court ordered the state-owned bank to enhance the pension to its retired employees. However, at the start of 2018, NBP filed a review petition with the Supreme Court.