SC seeks report from banks over Rs54b written off loans


The Supreme Court (SC) has sought details from nine banks in respect of written off loans of Rs 54 billion besides directing the ministry of law to explain the steps taken by the banks for waiving loans under the pretext of laws.

The inquiry commission has filed a bulky report containing 12 volumes on the loans which have been waived. It was said in the report that loans were got written off in the guise of laws. Certain private banks and ministry of finance have also filed reports before a bench of SC led by Justice Mian Saqib Nisar which is hearing the case.

During the course of hearing on Wednesday, Deputy Attorney General Sajid Bhatti and lawyers of parties concerned appeared in the court. The deputy attorney general told the court that an inquiry commission had filed a detailed report containing 12 volumes in the court and women have been stated to be the reason for waiving of loans by the banks.

The court remarked: “How can it be done? Ascertain from the ministry of law what are those laws in the garb of which loans been written off.”

The court while seeking report from the banks put off the hearing for 30 days.