January 17, 2020: The Supreme Court (SC) on Friday turned down an appeal of Allied Bank of Pakistan against the decision of Peshawar High Court (PHC) in a case pertaining to pension freezing of employees.
A division bench of the top court headed by Justice Mushir Alam heard the case filed by the management of Allied Bank.
During the outset of hearing, the counsel for employees stated that the management had taken no approval from board before freezing the pensions of employees.
However, the bank management adopted the stance that the pensions had been frozen in 2002 after the approval of board of directors of the bank.
The management prayed the court to dismiss the decision of PHC.
After hearing arguments from both sides, the court maintained the orders of high court and dismissed the appeal.
It may be mentioned here that around 6000 employees of the bank would be able to receive pensions in accordance of their scales at time of their retirements.