Properties of loan defaulters to be seized, remarks CJP

ISLAMABAD (92 News) – The Chief Justice of Pakistan (CJP) on Friday remarked that the properties of loan defaulters will be seized and their cases can be referred to the National Accountability Bureau (NAB). A three-judge bench headed by Chief Justice Mian Saqib Nisar heard the suo moto case on May 13 related to waiving of Rs54 billion loans during the government of former president Gen (r) Pervez Musharraf. Hearing a suo motu case today pertaining to the loan write-off of fifty four billion rupees, he remarked that the loans were written-off illegally as he was not sat here to prepared mind. The chief justice made it clear that all the people who got their loans written off illegally on political basis or otherwise would have to return them to the national exchequer. "If anybody did not return the national exchequer then their properties will be seized and their cases will be referred to the NAB," he remarked. The SC has sought reply within a week from the 222 companies involved in the loan write-off and hearing of the case has been adjourned till June 19.