Haqnawaz shinwari
PESHAWAR
The Capital City Police Peshawar under the leadership of CCPO Mian Muhammad Saeed, have announced a major crackdown on the practice of usury, terming it a social and economic evil that fuels inequality and unrest. The police said that usury, or interest-based money lending, has been identified as a major source of exploitation, and strict action will now be taken against all those involved in the illegal practice.
According to CCPO Peshawar, a comprehensive strategy has been prepared to identify, arrest and dismantle networks and individuals involved in the usury business.
He stated that capital emphasized that those found engaged in such forbidden activities would face no leniency and would be punished according to the law.
The department reiterated its commitment to purging society of oppression, injustice and unlawful economic practices.
The crackdown is being conducted under the Khyber Pakhtunkhwa Prohibition of Private Money Lending Act, 2016, which prohibits individuals or groups from lending money for interest or carrying out interest-based transactions in any form.
The law prescribes imprisonment ranging from three to ten years along with a fine that may extend up to one million rupees for those found guilty. It also states that anyone abetting, assisting or facilitating such activities will face the same punishment.
Under the Act, molestation or harassment of borrowers for loan recovery is punishable with imprisonment of up to five years and a fine of five hundred thousand rupees.
The law further extinguishes all obligations of debtors to pay interest on existing loans, providing relief to those previously exploited through such schemes. The offences under the Act are cognizable, non-compoundable and non-bailable, ensuring strict enforcement.
The Peshawar Police have reaffirmed their resolve to continue operations against all forms of illegal money lending until the practice is completely eradicated from the province. Officials said the action is part of a broader campaign to cleanse society of economic injustice and to uphold the rule of law.
