Total Rs 59.54b loans written off

ISLAMABAD- A total of Rs 59,945.17 million loans have been written off during accounting years 1999-2007, Federal Minster for Finance Syed Naveed Qamar told The National Assembly on Monday.

Replying to the supplementary question of various parliamentarians, the Minister said that different techniques were used to write off the loans. He said the act would be taken against those elements that had adopted illegal way to write off their loans.

According to documents of replied question, placed in the National Assembly, most of loans were written off of textile industries, sugar mills and others companies.

According to details, Punjab Bank of Pakistan has written off Rs 608.74 million while National Bank of Pakistan has written of Rs 6109 million loans during 1999 to 2007.

Similarly First Women Bank, SME Bank Ltd, Industrial Development Bank of Pakistan and Bank of Khyber have written of Rs 12.39, 1228.28 Rs 10,763.09 and Rs 1,124.80 millions loans respectively.

A total of Rs 104850 millions loans were written off during 1999 year while Rs 309,190 million was written off during 2000. According detail, a total of Rs 1,004,855, Rs 627,593, Rs 627,593, Rs 1,177,139, Rs 2,348,811, Rs 1,199,808, Rs 2,004795, and Rs 2,192,121 millions loans were written off during 2001-2,3,4,5,6,7 years respectively.