SBP inform SC Rs 193 billion loans written off

ISLAMABAD, Pakistan News : The State Bank of Pakistan (SBP) has informed the Supreme Court of Pakistan that more than Rs 193 billion loans have been written off in the country from 1997 till 2009.

Iqbal Haider, the counsel of the SBP told media outside the premises of SC after submitting detail sheets about the written off loans that the SBP is preparing the list of the people whose loans have been written off from 1971 to 1997 on the order of the SC. These loans have been written off by 37 banks. There are 19711 beneficiaries whose loans have been written off and this number include the number of people whose loans were more than Rs 0.5 billion, he added.

The SC has taken suo moto notice of this issue in 2006 but the hearing of the case could not be completed in the SCP. The Supreme Court has ordered SBP to provide the list of the loans written off from 1971 till yet. But the SBP produced the list of the people from 1997 to 2009 whose loans were written off.