He expressed his views on the matter during the hearing of a case pertaining to the utilisation of dam funds set up for the construction of Diamer-Bhasha and Mohmand dams.
Additional Attorney General Khurram Saeed listed down three options with regard to the use of the funds before a five-member larger bench of the Supreme Court (SC).
He said that the funds could be invested in treasury bills, Pakistan Investment Bonds, or National Saving Certificates. He further remarked that investments in treasury bills are made for a period of either six or three years, and yield respective interest rates of 10.2% and 10.5%.
With regard to PIB, investments are made for periods of three, five, or 10 years. The interest rates for this respective timeframes amount to 12.2%, 12.5% and 12.9%, respectively.
In response, the bench – which comprised Justice Sheikh Azmat Saeed, Justice Umar Ata Bandial, Justice Faisal Arab, Justice Ijaz Ul Ahsan, and Justice Munib Akhtar – deliberated on the options and reserved its verdict in the case.
