Consensus reached to build 2 dams with money recovered from loan defaulters: CJP

The Chief Justice Mian Saqib Nisar on Saturday remarked that consensus between all stockholders to immediately build two dams in view of the chronic water crisis in the country had been reached.

The CJP stated this while chairing a two members bench hearing a suo motu case in connection with the Rs54 billion worth of illegal loan waivers carried out by 222 individuals or companies.

During course of proceedings, Justice Nasir informed the litigants presented in the court that the said consensus was developed during a key meeting with experts and various stakeholders earlier this week.

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He added that the amount recovered from the defaulters will be used to construct new dams immediately.

The CJP stated that some of the defaulters had expressed willingness to pay 75 per cent of the written-off loan amount, whereas cases of not returning the amount will be referred to banking courts.

Subsequently, the bench directed all parties to submit their written suggestion on the matter and adjourned further hearing till July 4.

On previous hearing, Chief Justice warned the loan waivers to get ready for consequences if they failed to pay off public money. “If we fail to bring back the nation’s wealth, then we do not deserve to occupy this office”, Mian Saqib Nisar was quoted as saying.

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