Re­turned writ­ten-off to go in dams fund: CJP

The Financial Daily - - FRONT PAGE -

ISLAMABAD: The Supreme Court of Pak­istan (SCP) on Tues­day is­sued di­rec­tives to de­posit re­turns from the non­per­form­ing loans (NPLs) worth Rs54 bil­lion to the dams fund as banks had as­serted that the loans bor­rowed from them were not li­able to be paid.

Mean­while, the top judge has also or­dered to con­sti­tute a spe­cial bench to de­ter­mine and sort out the pend­ing amount to be paid by in­di­vid­u­als and com­pa­nies which had got loans worth bil­lions of ru­pees writ­ten off by banks in 2002.

How­ever, the court has also given a dead­line of two months to the in­di­vid­u­als and com­pa­nies, if they want to de­posit the pend­ing amount in the Regis­trar Of­fice of the SCP in or­der to avoid any con­se­quences.

Sub­se­quently, the court or­dered the Min­istry of Hous­ing and Works to in­ves­ti­gate into the al­leged il­le­gal res­i­dence of Islamabad In­spec­tor Gen­eral Po­lice (IGP) Muham­mad Aamir Zul­fiqar Khan.

The CJP ex­pressed anger and called the IGP to the ros­trum, and said "you had come to launch an op­er­a­tion on the Lal Masjid, and here you are oc­cu­py­ing flats il­le­gally. It is the res­i­dence of CDA's mem­ber which you have oc­cu­pied."

To which the IGP replied that he was not aware about that fact.

Re­gard­ing funds re­cov­ery from cer­tain in­flu­en­tial peo­ple, the CJP asked "Why haven t any funds been re­cov­ered from

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