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.
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.
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.