TANZIL-UR-RAHMAN, CJ.---Heard the learned counsel for the parties.
2. By this petition two circulars bearing Nos. 603-22-RCS, dated the 13th February, 1969 and RCS/B&C/4869-5018, dated the 5th December, 1979, issued by the Registrar Cooperative Societies Punjab, Lahore, have been challenged on the ground that the said circulars to the extent they provide for charging interest are repugnant to the Injunctions of Islam. Reliance is placed on a judgment of this Court reported as Dr. Mahmood-ur-Rahman Faisal v. Government of Pakistan PLD 1992 FSC 1. For the reasons recorded in the aforesaid judgment the above-referred circulars to the extent they provide for charging interest are declared repugnant to the Injunctions of Islam as laid down in the Holy Qur'an and Sunnah. Unless the said circulars, declared repugnant herein, are suitably amended by the Provincial Government, the same shall cease to be effective as on and from the 1st of January, 1993.