Two LHC judges withdraw interest-free loan requests
Pakistan
Two LHC judges withdraw interest-free loan requests
LAHORE (Web Desk) - Two of the eleven Lahore High Court judges have opted out of their requests for interest-free loans amounting to Rs32.86 million each for home purchase or construction, a private media outlet has reported.
In September, the Punjab caretaker government had approved funds of over Rs360 million to be availed as interest-free loan by 11 judges of the Lahore High Court for purchase or construction of houses. The approval for the grant of the loan had been given by the Cabinet Standing Committee on Finance.
The government’s move had drawn widespread criticism, given the prevailing high inflation, primarily due to soaring energy prices, which was placing significant economic pressure on the general public.
Each judge was entitled to receive an interest-free loan equivalent to 36 times their basic salary, totaling Rs912,862. The repayment plan required judges to return the loan over a period of 144 months, equivalent to 12 years, through salary or pension deductions.
Per media reports, the two judges who withdrew their loan requests are Justice Rasaal Hasan Syed and Justice Safdar Saleem Shahid.
Both have communicated their disinterest in availing the loan facility to the Punjab government through the court’s additional registrar. Their requests to have their names removed from the list of the 11 judges were conveyed during a meeting of the Standing Committee of the Cabinet on Finance and Development.
Read also: Punjab govt approves Rs360mn interest-free loan for 11 LHC judges
Read more: Approval of interest-free loan for 11 high court judges challenged
Notably, Justice Safdar Saleem Shahid retired from service on July 31, 2023, though his loan request had been initiated prior to his retirement. On the other hand, Justice Rasaal Hasan Syed is set to retire on September 10, 2032.
