ISLAMABAD: Chief Justice of Pakistan (CJP) Mian Saqib Nisar Tuesday warned those who had got written off billions of rupees worth loans to get ready for consequences if they failed to pay off public money to them.
The CJP while heading a bench which heard a suo moto case regarding written off loans of Rs 54 billion rupees, also remarked that every looted penny of the nation would be recovered.
He said he desired an amicable settlement of the matter. He offered the companies, which got their loans written off, two options. They could either opt for payment of 25 percent principal amount or their cases would be referred to banking courts.
The amount realized in that case could be used to pay off the country’s debts and the banking courts would have to decide all the cases within six weeks, he added.
He said the 25 per cent principal loan amount could be deposited to an account opened in the Supreme Court’s name, and the court might decide the markup rate itself.
The court adjourned the case till June 27.
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