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. A total of Rs 205,818 millions loan was written off of Fauji Cement Company and Rs 23,588 millions of Sarela Cement Industries. Similarly, a total of Rs 1117.489 million loans were written off of Mohib Textile Mills and Rs 296 millions of Allied Textile Mills during 1999 to 2007. A loan of Rs 1,648 million of great artist Samina Peerzada was written off during 2005. Rs 5 million of Deputy Commissioner Zafar Iqbal and Rs 6 million of Assistant Commissioner Akbar Hussain were written off, according to document. The Minster also informed the House that Liquefied Petroleum Gas (LPG) is being smuggled into country from Iran from three major entry points i.e Taftan, Mand and Panjoor of Balochistan province. He said that these are brought in sealed bowers and were proceeded to Karachi where they were distributed all over the country against fake documents. In reply to a question, he said that at a total of 521 million Kg pulses were imported during 2006-7 years. He said that pulses were imported form China, India, Iraq, Kuwait, South Africa, Saudi Arabia, UAE, UK and USA. The Minister also informed that the prices of 65 percent of ghee and 87 percent of cooking oils have been increased during 2005-8 year. He said that the government is not providing subsidy to the companies for supply of edible oil/ ghee to utility stores corporation at cheaper rates.   He also informed that the government launched a scheme tiled "President's Rozgar Scheme" directed at the un-employment persons during financial year 2006-7. National Bank of Pakistan is executing this scheme, he said. Advisor to the Prime Minister on Interior Rehman Malik Monday told the National Assembly that all the political parties should join hands to curb terrorism in the country. While replying to various supplementary questions, he claimed that hands of foreign country are involved to destabilize and supporting terrorism in Balochisn. He said that the government would take strict action against it. He said that reentry law and enforcement agencies have seized three vehicles of explosions and nine suicides. He said that first vehicle had contained 400 kg explode materials while second had 200 kg. The third vehicle had 180 kg explosion material. He said that the explosion, which was occurred in front of Denmark embassy, is only 20kg. "We need the support of nation and all political parties to get rid of terrorism and extremism in the country. Islam gives the message of love and peace not terrorism and extremism. I give message of those elements who involve their children in terrorism activates; they should give pen and book in the hands of their children instead of suicide jacket. He said that his ministry has sent summary to the Prime Minister for registration of madrassas. He said that there are 70000 madrassas in the country while only 14000 are registered. He said that a committee would be constituted for registration and MNAs, Senators and Ulema would be included in the committee. 

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