Govt approves Rs360mn interest-free loan for 11 judges

Lahore: The Punjab interim government has approved funds of over Rs360 million interest-free loan for 11 judges of the Lahore High Court (LHC) for purchase and construction of houses.

According to sources, the approval for the grant of the loan has been given by the Cabinet Standing Committee for Finance.

The high court judges reportedly wanted to use the option of an interest-free loan equivalent to 36 basic salaries for the acquisition and construction of homes.

Each judge receives a base salary of more than Rs. 0.9 million. Within a 12-year period, the interest-free loan will be paid off in installments.

The judges availing the facility of interest-free loans include Justice Ahmad Nadeem Arshad, Justice Safdar Saleem Shahid, Justice Rasaal Hasan Syed, Justice Shakil Ahmad, Justice Muhammad Tariq Nadeem, Justice Muhammad Amjad Rafique, Justice Abid Hussain Chattha, Justice Anwar Hussain, Justice Ali Zia Bajwa, Justice Muhammad Raza Qureshi and Justice Raheel Kamran.

Furthermore, it should be noted that there isn't a single instance where a government employee has received a loan with 0% interest.