ISLAMABAD: The Supreme Court has asked for details of Rs. 52 billion worth of loans within an hour.
Chief Justice Iftikhar Muhammad Chaudhry remarked, “Why don’t people realize their responsibilities? The court can not teach everyone.”
A three-judge bench headed by Chief Justice Chaudhry is hearing the suo motu case of written off loans.
The Chief Justice told State Bank’s counsel Iqbal Haider that judges are not afraid of working under the Constitution. The court wants to know who were granted loans worth Rs. 52 billion.
Justice Chaudhry said that millions of rupees obtained by Redco Textile Limited in the form of loans were written off, but nobody was jailed.
Meanwhile, Redco Textile's counsel told the court that out of Rs. 362 million, Rs. 465 million has already been returned. He said that unjustified mark up had raised the loans from Rs. 362 million to Rs. 709 million.
He said an appeal has already been filed in this regard