Written off loans would be recovered by selling assets of beneficiaries, declares CJP Nisar

01:05 PM | 26 Apr, 2018
Written off loans would be recovered by selling assets of beneficiaries, declares CJP Nisar
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ISLAMABAD -  The Chief Justice of Pakistan Mian Saqib Nisar announced on Wednesday that the loans which were written-off on political basis will be recovered at any cost.

Hearing the loan write-off case, the top judge declared that the assets of the individuals who failed to pay back loans would be sold off in order to recover the money and depositing it in the national kitty.

When the top judge asked about the total amount which was not paid back, the counsel for a private bank replied that Rs 54 billion had been written off.

Barrister Zafarullah apprised the bench that Benazir Bhutto, Nawaz Sharif, Yousaf Raza Gillani Chaudhry brothers and Muhammad Khan Junejo also failed to pay back loans.

The CJP sought details of all those who took loans from government banks, and had not paid them back. He also asked for details of national and international bank accounts of the aforementioned Pakistanis.

The top judge also asked Governor Tariq Bajwa, Governor State Bank of Pakistan if there was a way to bring back the money stashed in offshore accounts.

To this, the Governor replied that there was no such clause in the legal procedures.