Pakistan News: The Supreme Court has asked to submit list of those whose loans have been written off during last two years. Chief Justice Iftikhar Muhammad Ch. Said that the loans have to be returned if waived illegally.
In the hearing of the case about write-off loans, lawyer Khawaja Haris told the court that almost Rs 50 billion were written off during last two years and most of the loans were waived off by commercial banks. It was also told to the court that Rs 154 billion loans were written off from 1971 to 2000.
On this, the court demanded list of loans waived off during last two years. The CJP said that Governor State Bank and Sindh Governor might be called if needed. He said that the circular that waived loans would be scrutinized. He said that State Bank has no authority to issue circular under Article 33.
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