SC moved to collect details of foreign loans


LAHORE: A citizen has filed petition in the Supreme Court whereby the step for changing the limit set for obtaining foreign loans has been challenged.

On behalf of citizen Munir Ahmad, Advocate Azhar Siddique pointed out that the federal government in 2015 had enhanced the limit laid down in the laws for acquiring foreign loans. This way, the highest loans in the history of the country were obtained, according to the petitioner.

He claimed that the outgoing government obtained loans more than anyone in the country due to which the value of dollar surged. The loans obtained for the Orange Line Metro Train were also identified in the petition. He declared this project as a white elephant.

According to the lawyer, neither details of the foreign loans were being provided nor the detail about the condition of return of these loans are being told. He prayed that the details of foreign loans and conditions for return of these loans be provided besides nullifying amendment made for enhancing the limit of acquisition of foreign loans.