Islamabad: The Supreme Court of Pakistan(SC) on Monday rejected a suggestion to form a commission for compiling list of those persons who got their bank loans written-off.A three-member bench comprising Chief Justice Iftikhar Muhammad Chaudhry heard a suo motu case of written-off loans from 1971 to December 2009.
The CJ remarked that the loans were written-off on political grounds rather than merits, adding that the SC would not keep silence over plundering of the national wealth.
He observed that the court was recovering the money by taking suo motu notices.
He questioned that why the State Bank of Pakistan (SBP) was not using its powers as no other bank even breathe without its permission.
The court observed it was the SBP governor’s responsibility to oversee the country’s economy, adding that huge losses has been inflicted on the national kitty by writing-off such a huge loans.
The court adjourned the hearing till February 14 on the plea of SBP’s counsel Iqbal Haider.
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