BA passes Balochistan Prohibition of Private Money Lending bill

August 27, 2014 Off By Web Desk

QUETTA: Provincial Assembly at its session here Thursday passed Balochistan Prohibition of Private Money Lending bill 2014. Speaker Jan Muhammad Jamali chaired the session.

The bill shall come into force at once and shall extend to whole of Balochistan except Tribal Areas. It shall repeal Balochistan Money Lending Ordinance 1960 ( WP Ordinance XXIV of 1960).

Under clause 2 © Private Money lending means a person who lends money in cash or in kind on interest but does not include any corporation incorporated by the Federal or Provincial government as a bank or a finance Corporation or a cooperative society.

Under the bill no person, individually or collectively shall engage himself in private money lending in the Province of Balochistan.

Leader of Opposition Maulana Abdul Wasay congratulated Balochistan Assembly over passage of this bill. He aid Almighty Allah and his Prophet has declared interest as Haram and war with them. This bill he said will be in the best interest of common man. He said the society which does not implement this law is cruel.

Provincial Ministers Abdul Rahim Ziaratwal, Dr Hamid Achakzai, MPAs, Agha Liaqat, Madam Yasmeen Lehri, Madam Husn Bano, Madam Shahida Rauf, Gul Muhammad Domar, Nasrullah Zeray, William Barkat and Maulvi Maazullah also congratulated the House and the people of Balochistan over passage this bill.

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