SC seeks report from state bank in respect of loan defaulters since 1971

Supreme Court (SC) has sought report from State Bank of Pakistan (SBP) in respect of those who have got their loans written off since 1971.

During the course of hearing of suo motu case Friday Chief Justice of Pakistan (CJP) Iftikhar Muhammad Chaudhry remarked this was hard money of people and court was taking interest in this case for the very reason that political people were involved therein and the court did not want to mention their names. Circulars are issued if the common man obtains loan while the loans of influential people are written off, he further remarked.

He observed those who had deposited money in the banks were wandering in the streets with begging bowl and those who had got their loans waived were sitting in high offices. This amount should be spent for the welfare of the people, he remarked.

Justice Khalil ur Rehman Ramday remarked the nation was doomed to destruction and no one was there to take notice of it.

The case has been adjourned till August, 2.

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