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Pardons like this exist for a reason - the justice system is meant to rehabilitative, a person who has been successfully rehabilitated serves no purpose wasting taxpayer money in jail, this provides necessary flexibility
This also adds to the system of checks and balances
Also since you mentioned ubi jus ubi remedium, take note that rights against crime are rights in rem not rights in personam, since the state and society are wronged parties, it makes states have exceptional powers of commuting, remitting, pardoning, etc.
this article is violative of Ubi jus ibi remedium i.e where there is a right, there is a remedy. because technically even if a person committed a murder or even r*pe the president can set him free. Why our constitutional makers inserted this article?