Punjab enforces law to prevent usury business in private sector.

LAHORE -- Punjab government on Wednesday took a milestone step under the leadership of Punjab Chief Minister Ch Parvez Elahi by enforcing the law prohibiting usury in private business. The law comes into force with the gazette notification of 'The Punjab Prohibition of Interest Loans Act 2022. In this connection, CM Parvez Elahi stated that after the enforcement of law a ban has been imposed on doing private usury business across Punjab adding that no one can make any transaction with regard to private usury across the province. The CM asserted that those found involved in doing private usury business will be brought in the stern grip of law adding that the one found involved in doing private usury business will be awarded ten years punishment along with Rs. 5 lakh fine. 'After the enforcement of law the one receiving money from private usury in the past will now only return the real amount and will not have to

pay additional amount as interest to the lender', he said, adding that a case will be registered against the concerned person for...