ISLAMABAD: The Chief Justice Mian Saqib Nisar on Saturday remarked that consensus between all stockholders to build immediate two dams has been developed in view of the chronic water crisis in the country.

CJ passed this remarks while chairing a two members bench hearing a suo motu case in connection with Rs54 billion worth of illegal loan waivers carried out by 222 individuals/ companies.

During course of proceedings, Justice Nasir informed the litigants presented in the court that the said consensus was developed during a key meeting with experts and various stakeholders earlier this week adding that the amount recovered from the defaulters will be used to construct new dams immediately, he added.

Chief Justice Nisar stated that some of the defaulters have expressed willingness to pay 75 percent of the written-off loan amount, whereas those who do not return the amount will be sent to the banking courts.

Chief Justice also appropriated the wisdom of Justice Monib Akhtar who made two formulas for the recovery of loans and said that I feel proud that Justice Monib was elevated as Supreme Court Judge on my recommendations, now people would know why I recommended him, he added.

Subsequently, the bench directed all parties to submit their written suggestion on the matter adjourned further hearing if the case till July 4.

On previous hearing, Chief Justice warned the loan waivers to get ready for consequences if you failed to pay off public money "If we fail to bring back the nation’s wealth then we do not deserve to occupy this office", Chief Justice added.