SBP Submits List of Written off Loans in SC

ISLAMABAD, Pakistan News: State Bank of Pakistan has submitted the list of write-off loans from 1971 to 2009 in the Supreme Court,containing the statistics that as many as 0.669million people have got Rs256billion waived.
Talking to media outside the apex court, SBP counsel Iqbal Haider divulged that the waived loans were not merely political, however, he added that the ratio in this regard was low before 1997 but afterwards it rose. Iqbal told the reporters that the Chief Justice ordered to form a commission in December, however, its rules and regulations have yet to be decided. He noted that the SBP stance on waived loans was clear, and added that the loans written-off under law could not be challenged.