The Punjab caretaker government has approved funds of over Rs360 million to be availed as interest-free loans by 11 judges of the Lahore High Court for the purchase and construction of houses.
Sources said that the Cabinet Standing Committee on Finance has approved the loan's issuance.
According to reports, the high court judges wanted to use the option of an interest-free loan equivalent to 36 basic salaries for the purchase and building of homes. Every judge receives a basic salary of more than Rs0.9 million. The interest-free loan will be repaid in installments over a period of 12 years.
Judges Ahmad Nadeem Arshad, Safdar Saleem Shahid, Rasaal Hasan Syed, Shakil Ahmad, Muhammad Tariq Nadeem, Muhammad Amjad Rafique, Abid Hussain Chattha, Anwar Hussain, Ali Zia Bajwa, Muhammad Raza Qureshi, and Justice Raheel Kamran are among those who have accessed the interest-free loan facility.
It is pertinent to mention here that there isn't a single instance where a government employee has received a loan with 0% interest.