LAHORE, May 2: No progress has yet been made on the prohibition of money lending bill taken up by the standing committee on revenue relief and consolidation since August 2003. The committee, headed by Mian Majid Nawaz, met for the 12th time on Monday only to decide “to follow the procedure explained by the law department” as the last objection to the legislation.

The law authorities are of the opinion that though legislation on the subject is lawful the bill needs provincial cabinet’s nod before it is formally discussed by the committee.

Assembly officials say the law department and not Punjab Assembly rules require cabinet’s approval for the piece of legislation.

The bill has been referred to the cabinet and the law department has been asked to re-submit it to the committee within 60 days.

Earlier, the department had objected that as the Federal Shariat Court had taken up the issue of interest so the committee should not discuss the private bill, moved by ruling PML’s Humaira Shahid in June 2003 in the house.

The bill seeks ban on “private money lending for the purpose of earning interest which is prohibited by the Shariah.”

Article 31(1) of the constitution also provides that steps shall be taken for enabling Muslims of Pakistan, individually and collectively, order their lives in accordance with fundamental principles and basic concepts of Islam, the mover says.

Private money lenders are charging people compound interest and thus fleecing them, necessitating that they are barred from lending money.

The proposed law suggests that violators are punished with a jail term of up to 10 years along with fine up to Rs500,000.

Mrs Shahid and Special Education Parliamentary Secretary Tahir Husain Malazai, who is also a committee member, were critical of delaying tactics adopted both by the law as well as the revenue departments in giving their opinions on the bill.

“We are puppets in the hands of departments which are not allowing us to provide even small relief to masses,” Mrs Shahid said, referring to over one and a half years period consumed by the revenue department in submitting its opinion.

Mr Malazai said the committee had rejected the department’s stance that there was no need for a fresh law as there existed a 1960 Act under which money lenders were required to get a licence for their business.

“The department was not aware of the act and it was me who had informed them about it while working for my bill,” said Humaira Shahid.

“Not a single licence has been issued under the law as money lenders are active on their free will.”

Malazai says the act has virtually become dead so there is need for a fresh law.