Case related to microloan; IHC directs petitioner to approach relevant fora.
ISLAMABAD -- The Islamabad High Court (IHC) Friday directed the petitioners to approach the relevant fora in a case related to small loans of micro finance institutions and also asked the federation to view the matter in accordance of law.
Chief Justice Athar Minallah conducted hearing on the petition, wherein the lawyer of State Bank of Pakistan (SBP) informed the court that around 80,000 people had requested relief in payment of their loans in wake of coronavirus.
He said that payment of loan worth Rs 4 billion had been postponed to relax the people.
The representative of National Rural Support Programme (NRSP) Iftikhar Bajwa pleaded that micro finance institution were also in financial crunch after the commercial banks had stopped loaning them. He said that SBP had powers and should help to micro finance institutions.
The court sought the opinion of amicus curiae...
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