SC directs SBP to deposit dam fund amount in NBP

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ISLAMABAD, Jun 13 (APP):The Supreme Court on Thursday directed the State Bank of Pakistan (SBP) to deposit the amount collected for the construction of Diamer Basha and Mohmand Dams in National Bank of Pakistan (NBP) for an auction.

A five-member larger bench of the apex court headed by Justice Sheikh Azmat Saeed heard the case pertaining to the construction of Diamir and Bhasha Dams.

During the course of proceedings, the bench ordered the SBP to deposit the amount in NBP.

The court in its ruling observed that NBP had assured the court of paying an interest rate of 12.60 percent.