LAHORE: The Punjab Treasury Department has issued a $ 358.5 million loan to 12 judges of the Lahore High Court for housing.
The loan approval was first approved by the Cabinet Standing Committee on Finance and Development at its March 18th meeting.
Since all 12 judges will retire in the next three to eight years, the government will continue to deduct the loan installment from their salaries and later pensions.
Finance Department released Rs29.875m each to Justice Shujaat Ali Khan, Justice Shahid Waheed, Justice Raja Shahid Mahmood, Justice Shahid Bilal Hassan, Justice Syed Shahbaz Ali, Justice Shahid Jamil Khan, Justice Masud Abid Naqvi, Justice Muhammad Sajid, Justice Tariq Saleem Sheikh, Justice Shehram Sarwar Chaudhry, Justice Anwaarul Haq Pannun and Justice Ms. Alia Neelum.
In a directive issued by the S & GAD Implementation and Coordination Secretary, the loan has been repaid following the approval of the Cabinet Standing Committee on Finance and Development as additional funding for the 2021-22 financial year.
The directive states that the loan will be regulated in accordance with the terms and conditions of the mortgage loan to be determined thereafter.
Published Parhlo, May 3, 2022