Each and every looted penny of nation will be recovered: SC

ISLAMABAD: A three member bench of the Supreme Court headed by Chief Justice Mian Saqib Nisar has said that every looted penny of the nation will be recovered.

The bench was hearing a case regarding written off loans worth Rs54 billion here Tuesday. The chief justice said that he desires amicable settlement of matter.

He offered the companies which got their loans written off two options. He said the companies can either opt for payment of seventy five percent of the primary amount or their cases will be referred to the banking courts. He said the amount so realized can be used to pay off the country's debt.

Hearing another case pertaining to Bahria town Karachi, the bench asked the builder to stop receiving payments from allottees. It said the Supreme Court has opened an account and the allottees should deposit their installments in the said account.

Owner of Bahria Town Malik Riaz appeared before the court on Tuesday and highlighted the steps taken by him in the real estate sector.

The Chief Justice said we respect the charity work of Bahria town but action will be taken if proven that it executed projects on illegally occupied land.