President Asif Ali Zardari’s lawyers invoked presidential immunity on Tuesday as an accountability court heard the Park Lane reference.
Zardari's counsels, Farooq H Naek and Arshad Tabraiz contended that Zardari, having been elected the president now, has presidential immunity.
They asserted that proceedings against the president cannot continue due to the immunity clause.
Accountability court judge Nasir Javed Rana presided over the hearing.
The court then asked whether the case could progress against the co-accused.
Zardari's legal representatives responded affirmatively that legal action could proceed against the remaining defendants.
The National Accountability Bureau (NAB) prosecutor contended that this case pertains to a private bank. It will first need to be determined whether this court can even hear it, as per the existing laws.
He further said deputy prosecutor Azhar Maqbool Shah has presented arguments concerning other references, adding that he will also argue this reference at the next hearing.
The court adjourned the hearing till April 17.
The Park Lane reference alleges Zardari of influencing relevant authorities during his previous term as the president – from 2008 to 2013 – to obtain loans for his 'front companies'.
NAB claimed that Harish and Company was the frontline firm of Zardari’s Park Lane Estate which caused a loss of Rs60 million to the national exchequer.
The former president allegedly received a loan of Rs1.5 billion released for Parthenon Private Limited “with ill intention”, and the money was later transferred for his personal use through fake bank accounts.
NAB accused the former president of causing the national exchequer a loss of Rs3.77 billion.
