ISLAMABAD: The Supreme Court on Tuesday gave a final warning to those who have managed to get their loans written off from financial institutions during the last 38 years and directed the State Bank to furnish a list of loan defaulters right from 1971 to date.
“Only one chance will be given to defaulters to return the loans and strict action will be taken against them without any discrimination,” Chief Justice Iftikhar Muhammad Chaudhry observed while heading a three-member bench of the apex court hearing a suo moto case of Rs 54 billion written-off loans.
“If anyone said that the court has crossed its limits we are ready to take the blame in the best interest of the nation,” the chief justice remarked, adding the court would look into the State Bank Circular 29 regarding writing off loans under Article 25 of the Constitution.
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