Petition against written off loans dismissed as withdrawn

LAHORE: Justice Nasir Saeed Sheikh of the Lahore High Court (LHC) on Thursday dismissed as withdrawn a petition, requesting that the details of the loans worth Rs 50.84 billion, written off by commercial banks during the last two years, should be made public and directions should be issued for recovery of these loans.The judge did not agree to hear the petition as a similar matter was pending before the Supreme Court on which the petitioner’s counsel requested to withdraw it.A citizen Imran Khan of Pakpattan Sharif had moved the petition.The petitioner’s counsel, Noshab A Khan, stated that huge amount of loans worth Rs 50.84 billion were written off by commercial banks during the last two years. He said out of these loans Rs 256 million had been written off to the well-connected individuals and companies. He said it must be ascertained that whether the people and firms who got their loans written off actually went bankrupt or if they had the loans forgiven due to patronage – Dailytimes