Economics & Business Pak Affairs

Banks not empowered to write off loans: CJP

ISLAMABAD: Chief Justice Iftikhar Mohammad Chaudhry has said the national economy has been plundered adding that a full bench of 17 judges will be constituted to recover the loans written-off since 1973. The Chief Justice during hearing of the case about written-off bank loans remarked that it is the most important case of the national history after the 18th Amendment Case.

The Chief Justice of Pakistan expressed his annoyance over the deferral plea of the State Bank lawyer and remarked that the circular indicates that the central bank has been responsible for the written off bank loans. He said the banks have not been empowered to write off the loans. The CJP further said that it is the play of the influential class which crushes the poor. The court adjourned the hearing till October 20th.-SANA

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Haroon Akram Gill

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