Islamabad chief commissioner Junaid Iqbal Chaudhry on Monday distributed cheques among more than one hundred victims of the Muslim Co-operative Development Corporation, saying the remaining amount would also be recovered from the society and handed over to deserving owners.
He directed board of directors of the society to sell the property of the society and recover the entire defaulted amount.
He said the amount be transferred to bank accounts and addresses of victims to avoid travelling from far-flung areas of the country.
The co-operative society's circular registrar Sadaqat Hussain said on the occasion that claims of up to Rs25,000 have been paid to about 5,000 out of 12,000 victims.
He said total asset value of the society is Rs 70 million and added that they have received Rs 10 million by auctioning assets in the first phase.
He further said the recovered amount would be distributed among 7,000 victims before Eid, which would be 10 percent of the total amount to be paid.