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Summary
State Bank of Pakistan Tuesday submitted a list of those individuals and organizations who had got Rs193billion bank loans waived off.According to the list, around 19,711 individuals got Rs193billion loans written off in 12 years, i.e from 1997 to 2009.The Chief Justice said that only one chance would be given to the defaulters but afterwards accountability would be held of everyone.According to the State Bank list, 37 banks waived off loans in this period.The Habib Bank has waived off Rs490million loans taken by 5,728 individuals, while United Bank wrote off Rs380million loan of 3,157 persons and the National Bank waived RS280million loan of around 1,545 people.The Supreme Court took suo moto notice of Rs540million waived off loans and sought the defaulters list from the State Bank a few years ago.State Bank lawyer told the court that the list consisted of loans waived off from 1997 to date while the list from 1971 to 1997 is being compiled.Speaking on the occasion, the Chief Justice said that It is an irony that the influential are getting their loans write off while loans are being taken to run the state affairs, the CJ said, terming it a big loss for both the nation and country.The CJ called for return of all the written off loans from 1971, adding that the Court would not deter in this regard even if it is charged with transgression for taking suo moto notice in the larger interest of the country.
