Rs54 bn written off loans case: SC gives two-month time for paying back money

ISLAMABAD: The Supreme Court of Pakistan Tuesday decided to constitute a new bench regarding recovery of Rs54 billion written off loans by the local banks.

A three-member bench of apex court headed by Chief Justice Mian Saqib Nisar heard the case. The CJP observed that few people had complied with the previous order of August 12, 2018. He further observed that out of 222 people, only 39 have decided to pay back their written off loans. The chief justice said that those who are voluntarily paying their loans, there case must be withdrawn and for the remaining, a new bench should be constituted to see the matter.

The court further observed that as the banks were not ready to peruse the case, the money received should be submitted to the dam fund. The CJP observed that those who have decided to pay back their loan are lucky people.

“We are giving them relief regarding the mark-up and they are given offer to pay just two third of the taken loan,” he added. Counsel for the applicants appraised the court that some more people were willing to pay back their loans, but just need a little time.

The court decided that those who were ready to pay their loans must pay to the registrar of the Supreme Court within next two months. “Those who will not pay their loans, a special bench of the apex court will decide their fate,” court decided. The case was adjourned till date in office.