LAHORE, Sept 9 Lahore High Court Chief Justice Khwaja Muhammad Sharif, announcing a partial verdict on suo motu case against Zarco Exchange Company, on Wednesday ordered to make payment to affectees from public in the first phase by using Rs50 million security of the company deposited with the State Bank of Pakistan.

The amount will be distributed among the affectees by a committee after verifying their claims. Representatives of FIA, Zarco and SBP will be members of the committee.

Payment schedule for other affectees, including Zarco's franchises, will be issued in the second phase.

Chief Justice Khwaja Sharif heading a division bench with Justice Ijaz Ahmad Chaudhry had reserved verdict on Tuesday after the parties concluded their arguments.

The FIA director-general and counsel of Zarco chief executive Lakht-i-Husain had submitted their proposals for the schedule and mode of payment to affected people.

The FIA DG had suggested the court to use Rs50 million of the company lying with the SBP as security to make payment to the affectees.

He was of the view that if the bank cooperated with FIA they could make payment to affectees from public and rest of the amount could be given to franchise companies.