SC to recover waived off loans

ISLAMABAD:Chief Justice Iftikhar Mohammed Chaudhry has said that the learned court can go to any extent for recovery of bank loans adding that the write off loans are part of national wealth. Hearing the case of written off loans, Chief Justice Iftikhar Muhammad Chaudhary remarked that the waived off loans is public money. He said that the loans have to be returned, a private TV reported.Justice Iftikhar Muhammad further remarked that there is democracy in the country, therefore, the government can promulgate law for recovering the waived off loans.Lawyer of the State Bank informed the apex court that 50,000 loans were written off in the duration between 1971 and 2009.Justice Sair Ali remarked that the State Bank report about writing off bank loans was ambiguous.The chief justice said that the Governor of State Bank will be summoned if details not provided to the court.Later, the court adjourned the hearing till Feb 14 – Dailymailnews