PAK. SC grants bail to Imran Khan in eight May 9 cases; PSX swings before closing at record

By Ali Imran Chattha | Nazrana Times

ISLAMABAD / KARACHI, Aug 21: The Supreme Court on Thursday approved post-arrest bail for Pakistan Tehreek-i-Insaf (PTI) founder and former prime minister Imran Khan in eight cases linked to the May 9, 2023 unrest, overturning an earlier Lahore High Court rejection and giving the embattled politician a rare legal respite.

A three-member bench headed by Chief Justice Yahya Afridi and comprising Justices Shafi Siddiqui and Hasan Azhar Rizvi — who replaced Justice Miangul Hassan Aurangzeb after a morning reconstitution — heard Mr Khan’s appeals against the Lahore High Court’s June 24 order which had dismissed bail petitions in the same cases. During the proceedings, the chief justice observed that the burden lay squarely on the prosecution to justify the high court’s refusal. The hearing, adjourned a day earlier due to the Punjab prosecutor’s illness, resumed with Barrister Salman Safdar representing Mr Khan and Special Prosecutor Zulfiqar Naqvi appearing for the provincial government.

The eight cases pertain to incidents in Lahore during the May 9 violence, including arson at police vehicles near Jinnah House, attacks on Askari Tower at Liberty, vandalism of PML-N offices in Model Town, unrest near Sherpao Bridge and clashes outside Shadman police station. Earlier, both an anti-terrorism court and the Lahore High Court had dismissed Mr Khan’s bail applications, with the prosecution arguing that the PTI founder had orchestrated the violence despite being in NAB custody at the time. The defence, however, insisted that the cases were politically motivated and unsupported by credible evidence.

Legal experts were quick to note that today’s relief does not guarantee Mr Khan’s immediate release. The former premier continues to face multiple other references, including high-profile cases relating to the Toshakhana gifts, the cipher controversy, and the Al-Qadir Trust. Convictions and ongoing trials in those matters mean that while the bail verdict is symbolically significant, the PTI chief will remain behind bars unless further relief is granted in separate proceedings.

The political reverberations of the judgment were immediate. PTI leaders hailed the order as a victory for justice and vowed to redouble their campaign for their leader’s release. The government, while avoiding an instant formal response, has consistently argued that bail does not amount to acquittal and reiterated that accountability for those responsible for May 9 would continue. Officials in recent months have emphasised that civilian trials under terrorism laws remain central to ensuring deterrence against such unrest.

The impact of the news was also felt in financial markets. The Pakistan Stock Exchange experienced a sharp intraday sell-off shortly after reports of the court order, with the KSE-100 index plunging to around 149,229 points amid investor anxiety. However, bargain-hunting and institutional support later buoyed the index to close at 150,591, up 0.55 per cent — its highest-ever closing level. Dealers described the movement as a reflection of political headline sensitivity, noting that while judicial developments create short-term swings, longer-term direction hinges on fiscal policy and IMF engagement.

For now, Mr Khan’s legal battle remains far from over. The Supreme Court’s forthcoming detailed judgment will outline the reasoning behind today’s ruling, while lower courts are expected to process surety bonds in the coming days. The decision nonetheless marks a rare success for the PTI founder in a year defined by mounting convictions, prolonged detention, and a rapidly evolving political landscape.