The NWFP legislature on Monday unanimously adopted a private members bill prohibiting interest on private loans in the province under which no individual would be allowed to lend money on interest. The bill was moved by JUI-S member Ikramullah Shahid.
The assembly also passed 14 resolutions, including one asking federal government to bind female newscasters on state-run PTV to cover their heads during news hours. Speaker Bakht Jehan Khan chaired the session. The NWFP Prohibition of Interest on Private Loans Bill, 2007 will be implemented across the province soon after it passage.
Under the bill any person found guilty of lending money on interest would be liable to ten years imprisonment and fine up to Rs 0.5 million or both. However, interestingly, the Bill proposes punishment only for lender and not for the borrowers. It also does not apply on banks, financial corporations or co-operative societies approved by federal or provincial governments.
Under section 2, clause (5), 'interest' means any extra profit on principal amount even if borrowed for trade or other purpose. The offence would be non-compoundable and non-bailable.
A resolution by Education Minister Fazl Ali demanded of the Federal government to upgrade the historical Islamia College Peshawar to full-fledged University. Sabira Shakir's resolution asked federal government to appoint legal experts in all embassies abroad to facilitate Pakistani expatriates.
Abdul Akbar Khan asked the federal government to equally distribute the provinces quotas among the districts of a province regarding recruitment of soldiers and officials in Pakistan Army. Minority MPAs Gorn Sarn Lal and Flex Innocent demanded of the PMDC to allocate single-seat quota for minority students in each medical college of the country.
Zubaida Khatoon demanded of the Governor to dissolve the present inquiry committee against Controller of Examination, University of Peshawar, and form a new committee comprising MPAs, sitting or retired judges and academicians.
The assembly also adopted reports of the standing committee on Agriculture, Livestock and Cooperative societies; standing committee on Zakat, Ushar and Social Welfare and House Committee report on Schools and Literacy. The session was adjourned till Tuesday morning.
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