ISLAMABAD – The Supreme Court on Friday directed the governor of the State Bank of Pakistan (SBP) to request Justice (r) Jamshed Ali to head the commission for recovery of Rs 256 billion loans written off by various banks from 1971 to 2009.
A two-member bench comprising Chief Justice Iftikhar Muhammad Chaudhry and Justice Ghulam Rabbani gave the direction after Additional Attorney General KK Agha informed the court that Justice (r) Saleem Akhtar, who was nominated to head the commission had excused himself.
The chief justice said Justice (r) Ali was probing a matter in the Bank of Punjab. He asked the SBP governor to approach Justice (r) Ali and if he was willing and available, he be asked to be the chairman of the commission and then an advertisement for the recovery of the loans be made. The court later adjourned the hearing until April 25.
Earlier on March 15, during the hearing of a suo motu case about the recovery of the written-off loans, the SBP had floated a proposal to the Supreme Court, seeking formation of a commission under a retired judge for the recovery.
