SC issues notice to 222 people who got their loans written off

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—file photo


ISLAMABAD: The Supreme Court of Pakistan on Sunday issued notices to two hundred and twenty two individuals and companies for getting their loans waived off.

A two-member bench of the apex court, headed by Chief Justice Mian Saqib Nisar, was hearing a case pertaining to the written-off loans in Islamabad.

A federal law officer informed that the report of the commission, which was formed to look into the written-off loans, has been submitted in the court by Governor State Bank.

He said as per finding of the report, the loans to the tune of Rs84 billions were revoked.

Issuing notices to all those having got their loans written off, the chief justice vowed that action would be taken against them.

During the previous hearing, the bench observed that the money waived off will be recovered even if such a step requires seizure of the shares, units or assets. Every single penny will be recovered, it added.

The court was informed that the loans were revoked on the basis of a circular issued by the State Bank of Pakistan (SBP).

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