The Punjab caretaker government has approved funds of over Rs360 million, to be availed as interest-free loan by 11 judges of the Lahore High Court 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.
Reportedly, the high court judges had desired to avail the facility of interest-free loan equivalent to 36 basic salaries for the purchase and construction of houses. Each judge draws a basic pay of over Rs0.9 million. The interest-free loan will be repaid in installments in a period of 12 years.
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.
It may be mentioned here that there is no single precedent that an interest-free loan is given to government employees.