Interest based private lenders to be arrested in KPK  

Interest based private lenders to be arrested in KPK  

PESHAWAR:(APP) Central Chairman Peace Jirga, Syed Kamal Shah has urged the Provincial Ehtesab Commission and National Accountability Bureau (NAB) to take action against private lenders who gives loan to people on interest base.

READ MORE:  KPK Assembly passes bill to ban interest-based private money lending

Speaking at `Guest Hours programme' of Peshawar Press Club here on Thursday, Syed Kamal Shah said Khyber Pakhtunkhwa assembly has already passed `Prohibition of Interest on Private Loans' bill and therefore these institutions should also take action against the persons involved in this  practice.

Chairman Peace Jirga also requested Chief Justice Peshawar High Court (PHC) to direct lower courts to assist affectees of private lenders by directing the concerned Police station to file FIR on the basis of the application.

He said under section 22A of the Pakistan Penal Code, Session court can direct concerned Police station to file FIR on the basis of application of the affected person.

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Syed Kamal Shah said Peace Jirga was formed in 2005 in Mardan and has taken a number of measures for resolution of disputes among people, kidnapping for ransom and for providing relief to affectees of interest based private lending.

He said the practice of providing private loans on interest base is more dangerous than corruption for prevention of which different government departments are working.

Thousands of people of KP have been affected because of the practice of interest base private loan and have lost all their belongings including cash and property, but are under debut of huge loans.

He gave an example of the person, Noor Muhammad from Charsadda who obtained a loan of Rs. One million from a private lender on interest base Despite returning the actual amount of Rs. One million, Noor Muhammad is still has to pay huge amount, Kamal Shah disclosed.

In Mardan, he continued, a Christian woman sold her kidney to pay off a loan of Rs. 0.5 million taken by her husband from a private lender.

Kamal Shah highly appreciated passage of bill from KP assembly and expressed the hope that affectees will take a relief after action by law enforcing agencies.

He requested government to ensure early implementation of the bill so that people could benefit of this legislation.

He said all interest based private lenders should be arrested and their assets be seized because all these are earning of massive exploitation of poor people in take loan for fulfillment of their urgent requirement and then keep in paying back the loan throughout their life.