State Bank submits list of defaulters to Supreme Court

SBP presents list of 50 firms and individuals who had obtained loan waivers in the Supreme Court.


Express October 20, 2010

ISLAMABAD: The State Bank of Pakistan (SBP) on Wednesday submitted a list of 50 firms and individuals who had obtained loan waivers.

The Supreme Court had called for the list during the hearing of a suo moto case regarding the waiver of loans which caused losses of billions to the national exchequer.

During the proceedings, Chief Justice Iftikhar Chaudhry remarked that the State Bank seems to be defending the looters of public wealth.

The Supreme Court directed SBP to help the court in ensuring the recovery of all loans that have been written off illegally. The Chief Justice observed that loans were public property and the people have the right to take action against the looters.

COMMENTS (8)

AMIN SABSWARI | 11 years ago | Reply What about Schon Group,
Ahmer Ali | 11 years ago | Reply Assalam-o-Allaikum Warahmatullah.Much the best for the whole nation and especially for poor economy of Pakistan but the question rises if either the present government shall help sincerely and honestly the SC in this regard to recover the loans from the defaulters or not by showing effrontery,coercion and compulsions?In this regard much more depends of the authorities the SC does have because SC itself can't recover this a huge amount of money without law enforcement agencies' help and all the law enforcement agencies are working under federal and provincial governments' commandments,
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