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CJP Orders Defaulters To Repay 75 Percent Written-off Loans

Islamabad (August  02, 2018): The Chief Justice of Pakistan, Justice Saqib Nisar on Thursday again ordered defaulting companies and individuals to repay 75 percent of the principal amount of written-off loans.

This CJP remarked while hearing a suo motu case pertaining to illegal waivers of bank loans worth billions of rupees by influential persons and companies.

During the hearing, the top judge ordered implementation of repayment of 75 percent of the principal amount of the illegally waived loans, and remarked that those companies/individuals who want to follow the orders should inform the court.The defaulting parties should also inform in how many days they will return the amount, the chief justice remarked.

CJP Nisar observed that the court has to allocate the repaid amount towards construction of dams in the country. A commission should be formed to sort out the matter, he remarked.

A private bank’s official, present during the hearing, told the court that talks are ongoing with customers who have taken out loans from the bank, to which the chief justice responded that the parties should sit together and resolve their issues.

Earlier on July 27, Supreme Court ordered 222 defaulters to submit 75 percent amount in loan write-off case.

A three member bench headed by Chief justice of Pakistan justice Saqib Nisar heard the case. Chief justice questioned that is he same Rana Hayat, who is contesting the election?

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Rana Hayat’s counsel replied that the name of his client is not included in the list.

Chief Justice said that we will look into this matter, if your name is not in the list.

CJP remarked that we would pass one order for all the defaulters, those who have swallow the loans, will have to return.

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