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  • Apr 1st, 2008
  • Comments Off on Rs 54 billion written-off loans: SBP submits details to Supreme Court
The State Bank of Pakistan on Monday provided details of Rs 54 billion written-off loans to the Supreme Court of Pakistan. The apex court had directed the SBP to submit details of all those persons/concerns whose loans were written off by the outing government.

In Islamabad, a three-member bench of the Supreme Court, comprising Justice Mohammad Nawaz Abbassi, Justice Hamid Farooq and Justice Mohammad Farrukh Mehmood, held further hearing of the case of written-off loans of which it had taken suo moto notice.

During the hearing, Justice Abbasi observed it was strange that poor defaulters of the House Building Finance Corporation (HBFC) or small business loans were put behind the bar, whereas no action was taken against the rich people to recover the state money.

Attorney General Malik Mohammad Qayyum agreed with the court either loans of all people irrespective their status be written off, or no one should be spared. The court appointed prominent lawyers, Abdul Hafeez Pirzada and S.M. Zafar, as amicus curaie, and issued notice to the Attorney General for April 10.

Copyright Business Recorder, 2008


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