FAISAL S.M. LTD. versus S.B. OF PAKISTAN
The import of machinery under Article 199 as payment as well as your payment / scheme exchange rights was exercised by the applicant under a circular of the State Bank of Pakistan in connection with the provision of exchange. Was accepted in such a way that the applicant had no legal authority to go to the government through the said circular and subsequently no legal authority to seize the benefit granted by the applicant through a circular. No, no notification or circular to snatch or abolish personal rights with prior effect Or could not be. The State Bank's request to withdraw such right of the applicant was, therefore, without lawful authority under the circumstances.
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